5 Rupees

The P#56 series was issued under the "Signed by Governor" convention that the Reserve Bank maintained throughout this period — S. Jagannathan served as Governor from 1970 to 1975, so notes bearing his signature span a relatively narrow window. The 5 Rupee denomination at this time occupied an awkward position in the currency structure: small enough to circulate heavily, large enough to be worth counterfeiting, and printed in sufficient volume that surviving uncirculated examples are genuinely uncommon despite their age.

Heavy use in rural trade meant most examples show significant soiling along the horizontal fold lines.