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Currency Note Press, Nasik: 1928
The printing of currency notes for India by the Bank of England was terminated by the Government of India from 1st January 1928. The city of Nasik was selected for the Security Press and Currency Note Press due to its favourable climatic conditions and proximity to the railway station and began functioning on 14th April 1928.
The Currency Note Press came to be popularly called the Nasik Press. It commenced printing of notes for the Government of India with the portrait of King George V for 5 Rupee notes, shortly followed by the portrait notes of King George V for 100 Rupees. The Reserve Bank of India introduced the portrait note of King George V for 50 Rupees in 1930.
The uniface notes of high denominations of Rupees 500, 1000 and 10000 continued to be printed by the Bank of England until their contract was terminated in December 1930. The Nasik Press undertook the printing of notes of 1000 and 10000 Rupees from 1931-32. A design for Rupees 500 note was planned but was never implemented.
