King George VI Banknotes

King George VI banknotes occupy a significant place in the history of Indian and South Asian paper money. Issued during a period marked by the Second World War, the separation of Burma from British India, Indian independence and the creation of Pakistan, these notes document some of the most important monetary transitions of the twentieth century.

The Reserve Bank of India introduced its first banknotes bearing King George VI in 1938, beginning with the 5 Rupees denomination. Early designs featured a profile portrait of the monarch, while later issues introduced frontal portraits and revised security features. These differences created several important collecting varieties.

Beyond British India, King George VI portrait notes appeared on the distinctive British Burma Peacock Series. Following the Second World War, Indian King George VI banknotes were officially overprinted for circulation under the Military Administration of Burma and subsequently the Burma Currency Board.

After the Partition of British India in August 1947, Pakistan initially relied on existing Indian currency arrangements before introducing provisional banknotes in 1948. These retained the King’s portrait but incorporated inscriptions identifying the Government of Pakistan.

For collectors, the series offers considerable variety. Important distinctions include portrait types, the signatures of RBI Governors J. B. Taylor and C. D. Deshmukh, denominations, issuing circles, watermarks, printing characteristics and official overprints.

This collection focuses exclusively on banknotes featuring King George VI’s portrait, including ordinary circulation notes and officially issued provisional or overprinted currency. It covers British India, British Burma and Pakistan but excludes notes without the King’s portrait.

King George VI and the First Reserve Bank of India Notes

King George VI became monarch in December 1936 following the abdication of Edward VIII. By this time, the Reserve Bank of India (RBI) had already commenced operations on 1 April 1935 under the Reserve Bank of India Act, 1934, taking over responsibility for issuing most Indian banknote denominations from the Government of India.

The RBI introduced its first King George VI banknotes in January 1938, beginning with the 5 Rupees denomination. The early series also included 10, 100, 1,000 and 10,000 Rupees notes, bearing the signature of Governor J. B. Taylor. These banknotes featured a profile portrait of the King, facing left and wearing the Imperial Crown of India.

The designs combined royal portraiture with elaborate security printing and distinctive reverse illustrations. The 5 Rupees featured the RBI tiger-and-palm-tree seal, the 10 Rupees depicted elephants with a mahout, and the 100 Rupees displayed a roaring tiger. Higher denominations incorporated landscape scenes and ornamental designs.

Printed at the India Security Press at Nasik, the notes introduced the new central bank’s identity while retaining elements of British Indian currency design. Signatures, watermarks, serial numbers and issuing-circle markings became important features for collectors identifying individual varieties.

The Second World War and the One Rupee Note

The outbreak of the Second World War placed additional pressure on India’s monetary system. Increased military expenditure, commercial activity and demand for small change contributed to the need for more low-denomination paper currency.

The Government of India reintroduced the 1 Rupee banknote featuring King George VI on a printed coin illustration. Unlike the higher denominations issued by the RBI, the One Rupee remained a Government of India responsibility and bore the signature of Charles Ernest Jones.

The note used a coin design dated 1940 and featured a multilingual denomination panel, distinctive watermark and serial-number varieties. Its smaller format and different issuing authority distinguish it from the regular RBI portrait series. For a detailed study of this denomination and its historical development, see our British India 1 Rupee Notes guide.

The Reserve Bank also considered reintroducing the unusual 2 Rupees 8 Annas denomination, previously issued under King George V. Although a King George VI design was prepared, it was never issued. Instead, the RBI introduced a 2 Rupees banknote in March 1943, extending the range of royal portrait currency. Changes in RBI Governors subsequently produced additional signature varieties, with C. D. Deshmukh succeeding J. B. Taylor in August 1943.

Wartime Counterfeiting and the Frontal Portrait Series

Japanese military operations in Asia created serious security concerns for British Indian currency. Sophisticated wartime counterfeiting prompted the monetary authorities to strengthen banknote designs and introduce additional safeguards against forgery.

One important response was the replacement of the earlier profile portrait with a frontal depiction of King George VI on redesigned denominations. The revised 5 and 10 Rupees notes appeared in 1944, incorporating new reverse illustrations, updated watermarks and solid security threads.

The 100 Rupees denomination also underwent significant security changes, including the replacement of the earlier profile watermark with a frontal portrait of the King. These developments created identifiable varieties within the series, making the relationship between portrait design, watermark, signature and security features especially important to collectors.

British Burma and the King George VI Peacock Series

Burma became a separately administered British colony on 1 April 1937. Following a transitional period involving Indian currency, the Reserve Bank of India introduced distinctive King George VI banknotes specifically for Burma during 1938–1939.

Commonly known as the Peacock Series, these notes comprised five denominations: 5, 10, 100, 1,000 and 10,000 Rupees. They featured King George VI alongside Burmese motifs, including the prominent peacock, elephants and other illustrations associated with the territory.

Although issued through the RBI, these banknotes were intended for Burma rather than ordinary circulation in British India. Their distinctive designs and historical significance are explored in our Reserve Bank of India Burma Peacock Banknotes guide.

Military Administration of Burma Overprints

Japanese occupation disrupted Burma’s monetary system during the Second World War. Following the return of Allied control, emergency currency arrangements were required to support the restored administration.

Selected Indian King George VI banknotes were officially overprinted for circulation under the Military Administration of Burma. The denominations were 1, 5, 10 and 100 Rupees, retaining their underlying Indian designs, portraits and signatures.

These transitional issues are an important collecting category because both the original banknote and the official overprint must be identified correctly. Read our Military Administration of Burma Banknotes guide for a detailed examination of the issues and their historical background.

The Burma Currency Board Issues

As civilian administration was restored, the Burma Currency Board assumed responsibility for Burma’s currency arrangements. Beginning in 1947, selected Indian King George VI banknotes were issued with official Burma Currency Board overprints.

The denominations were again 1, 5, 10 and 100 Rupees. Although these notes resembled the earlier Military Administration issues in their use of Indian currency, they belonged to a different issuing authority and monetary period.

Collectors should therefore distinguish the two groups according to their official overprint wording, underlying note varieties and historical context. Further details are available in our Burma Currency Board Banknotes guide.

Partition and Pakistan’s Provisional Banknotes

The Partition of British India in August 1947 created the independent dominions of India and Pakistan. Pakistan initially relied on existing Indian currency arrangements while preparing its own monetary institutions and national banknotes.

On 1 April 1948, five provisional denominations were introduced: 1, 2, 5, 10 and 100 Rupees. They retained the underlying Indian designs and King George VI’s portrait but incorporated Government of Pakistan inscriptions in English and Urdu.

Although commonly described as Pakistan overprints, these inscriptions were incorporated during production rather than applied afterward as conventional overprints. The State Bank of Pakistan commenced operations on 1 July 1948, after which separate national currency arrangements developed.

These provisional issues form a distinctive collecting field, covered in our Pakistan Overprint Banknotes collection.

The End of the King George VI Banknote Era

India became independent on 15 August 1947 but initially continued using existing King George VI banknotes while new designs were prepared. Post-independence currency featuring the Lion Capital of Ashoka began replacing the royal portrait issues from 1949 onwards.

King George VI banknotes therefore represent an important transition between colonial and independent monetary systems. Their designs, signatures, denominations and territorial variations document a period of considerable political and economic change across South Asia.