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Osmania notes of Hyderabad : 1917 - 1955
The Nizam’s Dominions under the Asaf Jah dynasty in south central India, was ruled by seven successive generations of Nizams, the rulers, until its incorporation into India in 1948. The erstwhile state of Hyderabad at present comprises Andhra Pradesh, Telangana and parts of Karnataka and Maharashtra.
When World War I broke out, an extreme shortage of silver found the princely state of Hyderabad unable to meet its monetary demands. Under these circumstances, the British Government permitted Hyderabad to issue paper money in 1917. The currency ‘Rupya Sicca Osmania’, honoured the Nizam and was printed at Waterlow & Sons Ltd., London. These notes were in denominations of Rupees 1 to 1000 and printed in London till 1936.
Subsequently, the printing of the new smaller sized notes of Rupees 5 to 1000 was entrusted to the Government of India Security Press, Nasik in 1938. A similar currency crisis during World War II in 1943 necessitated the State Government to reintroduce Rupee 1 notes, printed at the Government Central Press at Malakpet, Hyderabad. Hyderabad was annexed into the Indian Union in September 1948 and effective from 1st April 1955, its currency ceased to be legal tender.