The conversation between human and AI assistant.
Why is a 1 rupee note signed by the Ministry of Finance and the rest of the notes by the Governor of India?
That makes sense. But do you know when this distinction between the Ministry of Finance and the Reserve Bank of India started for the 1 rupee note and other denominations?
From my knowledge, the use of the prefix “I promise to pay the bearer” on banknotes was discontinued, and the governor's signature was used exclusively on all notes except the Rs.1 note by 1967. But the government stopped printing Rs.1 notes in 1994 and the Ministry of Finance started printing these notes instead. Thus, the Rs.1 note continued to bear the signature of the Finance Secretary while the other denomination notes bear the signature of the Governor.