N 49 713295 I · PROMISE · TO · PAY · THE · BEARER · THE · SUM · OF FIVE RUPEES ON · DEMAND · AT · ANY · OFFICE · OF · ISSUE FOR · THE GOVERNMENT · OF · INDIA N 49 713295
The Government of India's 5 Rupee notes of this period were a direct product of wartime financial pressure — the First World War disrupted silver supplies severely enough that paper substitutes for coin denominations became unavoidable policy rather than preference. India had long resisted low-denomination paper currency, and public acceptance remained grudging well into the 1920s.
De La Rue printed the series in London throughout the entire run. The long issuance window — spanning fourteen years — means date varieties exist across multiple signing officials, and the Controller of Currency signatures are the primary distinguishing factor between early and late examples.
The Government of India's 5 Rupee notes of this period were a direct product of wartime financial pressure — the First World War disrupted silver supplies severely enough that paper substitutes for coin denominations became unavoidable policy rather than preference. India had long resisted low-denomination paper currency, and public acceptance remained grudging well into the 1920s.
De La Rue printed the series in London throughout the entire run. The long issuance window — spanning fourteen years — means date varieties exist across multiple signing officials, and the Controller of Currency signatures are the primary distinguishing factor between early and late examples.