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50 Rupees Ten Year National Plan Certificate
| Issuer | Government of India |
|---|---|
| Year | 1954 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Rupee (1950-1957) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | TEN YEAR NATIONAL PLAN CERTIFICATE NOT TRANSFERABLE EXCEPT WITH THE PERMISSION OF THE COMPETENT POSTAL AUTHORITY 50 FIFTY RUPEES 10NP/ 50 FIFTY RUPEES FREE OF INDIAN INCOME TAX This is to certify that XXXXXXXXXX is registered at the XXXXXXXXX Post Office as the holder of a Post Office 10 Year National Plan Certificate, issued in accordance with the terms of the Notification specified on the reverse, and subject to the Application and Declaration of the Purchaser which shall be the basis of this Contract. The Government of India undertake to pay him, on presentation of this Certificate at the aforesaid Post Office on or after the XXXXXXXXX RS. or at any earlier date after the expiry of twelve months the sum not exceeding Rs. specified on the reverse of this Certificate as due on such date. Post Office Date of Issue Register No. POST-OFFICE Postmaster. |
| Reverse description | Green-tinted reverse headed 'RECEIPT ON DISCHARGE' with ornate guilloche border matching the obverse. The left half carries a tabulated schedule of encashment values over 10 years for a Rs. 50 investment, flanked by Ashoka Pillar vignettes; the right half provides spaces for received payment amount, date, and holder signature or thumb impression. The base bears the Ministry of Finance notification reference in letterpress. |
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| Comments |
India's Ten Year National Plan certificates were issued to raise public capital for the First Five-Year Plan's infrastructure push — the "Ten Year" designation reflected an anticipated maturity horizon rather than a specific decade-long scheme. They occupied an awkward position between a savings bond and a banknote, physically resembling the latter closely enough that the Reserve Bank of India had to clarify in official circulars that they were not legal tender for general transactions.
The 1954 series was printed domestically at the Security Printing Press, Nasik, which had only recently assumed full production of Indian currency after the transition from British imperial printing arrangements post-independence.