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1000 Rupees Post Office 7 Year National Savings Certificate
| Issuer | Government of India |
|---|---|
| Year | 1948 |
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| Value | 1000 Rupees |
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|---|---|
| Obverse lettering | POST OFFICE 7 YEAR NATIONAL SAVINGS CERTIFICATE NOT TRANSFERABLE EXCEPT WITH THE PERMISSION OF THE COMPETENT POSTAL AUTHORITY FREE OF INDIAN INCOME TAX. 1000 RUPEES ONE THOUSAND 7NS/ This is to certify that XXXXXXXXXX is registered at the XXXXXXXXX Post Office as the holder of the Post Office 7 Years National Savings Certificate, issued in accordance with the terms of the Notification specified on the reverse, and subject to the Application and Declaration of the Purchaser which shall be the basis of this Contract. The Government of India undertake to pay to him, on presentation of this Certificate at the aforesaid Post Office on or after the XXXXXXXXX or at any earlier date after the expiry of three years the sum not exceeding Rs. /- specified on the reverse of this Certificate as due on such date. Post Office XXXXXXXX Date of Issue Register No. Postmaster. SEE REVERSE |
| Reverse description | Olive-green letterpress reverse headed '1948 ISSUE' at upper left and 'RECEIPT ON DISCHARGE' at upper centre. The Ashoka Lion Capital pillar vignettes flank both sides. A tabulated schedule lists the redemption values payable after one through seven complete years, from Rs. 1000-0 to Rs. 1250-0. The right half contains a discharge receipt panel with manuscript completion fields for amount, date, and holder signature, together with a printed advisory note regarding certificate loss. |
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| Comments |
National Savings Certificates in independent India were not issued by the Reserve Bank and do not function as currency — they are instruments of public debt, entitling the bearer to repayment with interest after a fixed term. This 1948 example, denominated at 1000 Rupees with a seven-year maturity, was issued within months of Partition, when the new government urgently needed to absorb domestic savings and stabilize public finances without drawing on foreign exchange reserves.
The printing attribution to India is consistent with the Security Printing Press at Nasik, which inherited much of the British-era production infrastructure after 1947.