SSC MTS EXAM

Detailed explanation-1: -The first paper currency note, i.e. the 10 rupees’ note was introduced by the Government of India in the year 1861. In the following years, many notes of different denominations were introduced. All these notes were issued by the Government of India.

Detailed explanation-2: -The first recorded use of paper money was purported to be in the country of China during the 7th century A.D. as a means of reducing the need to carry heavy and cumbersome strings of metallic coins to conduct transactions.

Detailed explanation-3: -Given that paper is widely believed to have originated in China, it is fitting that that country introduced paper currency. This innovation is widely thought to have occurred during the reign (997–1022 CE) of Emperor Zhenzong.