Tell about Paper Money ?

hi

hello

hello

The bills could be exchanged for the gold at a later date.

New Delhi: The RBI issued new Rs2,000 and Rs500 currency notes after the 8 November announcement by Prime Minister Narendra Modi, in which Rs500 and Rs1,000 banknotes were stripped of their status as legal tender.

That's an important fact in the development of paper money,

Afer the demonetisation announcement, Rs500 and Rs1,000 currency notes were withdrawn from circulation by the Reserve Bank of India (RBI).

because it means that the money represented a real amount of gold or silver that actually existed somewhere.

coin. noun. a flat round piece of metal with special designs on it, used as money. A piece of money made from paper is called a banknote or a note.

Here’s a look at all the new currency notes brought to circulation in since demonetisation.

They made the paper money as an offshoot of the invention of block printing. Block printing is like stamping

The new denomination has the motif of Sanchi Stupa on the reverse and its colour is bright yellow. The note carries the signature of RBI governor Urjit Patel, the year of printing on the left, and the Swachh Bharat logo with slogan. The dimension of the bank note is 66mm x 146mm.

Some people used the process for quilts

but the government made ready use of it in printing money.

Rs 50: Fluorescent blue, the new notes bear the picture of the iconic stone chariot at Hampi, Karnataka, on the reverse. The size of the new note is 66 mm x 135 mm.

Rs 10: The new Rs 10 note in the Mahatma Gandhi series is designed in the base colour of chocolate brown and has the motif of the Konark Sun Temple in Odisha on the reverse.

They made paper money because their devalued coins were becoming too heavy to carry.

Rs 500: Just after the note cvbguy gtyg gtrfb ban in November 2016, the RBI had introduced new Rs500 and Rs2,000 notes. The size of the new Rs 500 banknote is 66mm x 150mm and it comes in a base colour of stone grey.

Most modern paper currencies are fiat currencies;

they have no intrinsic value and are used solely as a means of payment.

Historically, governments would mint coins out of a physical commodity,

Rs 2,000: The new Rgfdhtrtrhhh jnhhg gsts2,000 notes were introduced just after demonetisation. The size of the new design Rs2,000 banknote is 66mm x 166mm and it is pink.

such as gold or silver, or would print paper money that could be redeemed for a set amount of physical commodity.

The first country to print paper money was China

Paper currency was a natural progression of things to come, because of the Chinese block-printing.