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Published on Mar 28, 2016
1) In November 1994, printing of Re 1 note was stopped mainly due to higher cost and for freeing capacity to print currency notes of higher denomination. 2) The process of issuing paper currency started in the 18th century. Private banks like Bank of Hindustan, Bank of Bengal, the Bank of Bombay, and the Bank of Madras were among the first to print paper money. 3) The highest denomination note ever printed by the RBI was the Rs 10,000 note in 1938 and again in 1954. These notes were demonetized in 1946 and again in 1978.