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5 Rupees

Issuer Reserve Bank of India
Year 1950-1957
Type Standard circulation banknote
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Obverse description Printed in green and brown, the obverse carries text in English only with central serial numbering. The Reserve Bank of India's guarantee and promise-to-pay legends are arranged across the face, with the Governor's signature below. An Ashokan pillar watermark is incorporated into the paper.
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Protection type Watermark
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Comments

The P#32 series marked the Reserve Bank of India's first post-independence note designs, replacing the portrait of George VI with that of the Lion Capital of Sarnath — a deliberate assertion of republican identity following the 1950 constitution. These notes were issued under the signature of B. Rama Rau, the RBI's first Indian-born governor to serve through a full peacetime term.

The 5 rupee denomination saw heavy circulation in this period, and survivors in any grade above Fine are consistently undervalued relative to their actual scarcity.

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