The correct answer is 1950. In 1950, the first Republic India banknotes were issued in the denominations of ?2, ?5, ?10, and ?100. In 1950, the first Republic India banknotes were issued in the denominations of Rs. 2, 5, 10, and 100. Currently, the Finance Ministry issues currency notes and coins of rupee one, all other currency notes are issued by the Reserve Bank of India. RBI was established on the basis of the Hilton Young Commission recommendation in April 1935 with the enactment of the RBI Act, 1934. Its first Indian Governor was C. D. Deshmukh. Additional InformationOudh Commercial Bank was the first complete Commercial Bank of India. ?The Imperial Bank was established in the year 1921 by merging three main Presidency Banks. It was later rechristened as State Bank of India in 1955. The Nationalization of Banks was done in 1969.