23-05-2025
What is the highest denomination of the Indian Rupee ever printed by the RBI?
Many individuals recall the Rs 2,000 note, now no longer in circulation, as the highest denomination in India following its introduction after the demonetisation in 2016.
Interestingly, in a period in India's history when its currency consisted of annas and paisas, larger denomination notes coexisted. According to the RBI, the most significant note ever issued was the Rs 10000 note.
The 10000 note was first introduced in 1938 but was demonetised in January 1946 by the British authorities amid their growing concerns over hoarding and the rise in black-market activities during World War II.
Nonetheless, the note was reintroduced post-independence, in 1954, alongside other high-denomination notes like the Rs 5,000, and was primarily used for large transactions by businesses and traders, rather than ordinary citizens.
However, in an effort to combat the black money economy, it was once again demonetised in 1978 and was formalised through the High Denomination Bank Note (Demonetisation) Act, 1978, under which all the high denomination bank notes' will cease to be legal tender after January 16, 1978.
Former Reserve Bank of India (RBI) governor Raghuram Rajan suggested the introduction of Rs 5,000 and Rs 10,000 notes, as reported by the Public Accounts Committee (PAC), which was rejected, and Rs 2,000 notes were issued instead on May 18, 2016.
Notably, Ramkumar, an Indian based in Dubai, was claimed to have the rare Rs 10,000 note from 2015. According to a Gulf News source, the Reserve Bank of India's data indicates that before the 1978 demonetisation, only 346 Rs 10,000 notes were in circulation, with fewer than 10 such notes available today.
