-researched written by Musham Damodhar Rao Historian-Epigraphist
- Owner of indianbanknoteS.blogspot.in
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India experienced turbulent period during the rule of East India Company, The East India Company had started a new system so far in dark coming into light with this document for first time.
Thugs played havoc in roadside travel, to cope this EIC envisaged a plan to issue banknotes which failed several times from 1797 to 1809 .Later the issues started from 1812 in Sicca Rupees which were not so successful so people knew little about them.
present design of banknotes came into effect from 1824 with limited issues, with Commerce sitting on Merchandise.
Value panels in English, Bengali,
Persian and Gujarati.
EIC developed a system to counter THUGS and robberies menace. First one half of banknote was sent then second Half was sent if first half reached safely otherwise the second half was surrendered to Bank of Bengal to redeem the amount of the banknote.
THIS STORY IS TOLD IN THIS DOCUMENT EXECUTED IN FORM OF “BOND OF INDEMNITY” OF BANK OF BENGAL.
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