Notes of the Portuguese Territories in India

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The Portuguese were the first Europeans to reach India in the medieval times. They established several settlements on the coast. Ultimately, the fall of the Portuguese empire left only four Portuguese possessions in India. They were: Goa, Daman, Diu and Dadra-Nagar Haveli, all situated in western India. The last mentioned was the only island territory. All the territories except Goa were absorbed in India in 1950s while Goa was militarily subjugated in 1961.

Paper money was introduced in Goa for the first time in 1883. These notes were issued by the "Junta de Fazenda Publica" or, the Department of Public Finance. They were followed by the next issue in 1888, by Government of the State of India (Governs Geral Do Estado da India). Both these issues incorporated a profile portrait of Dom Luiz I, the king of Portugal.

In 1906, the issue of notes was entrusted to Banco Nacional Ultramarino, the bank responsible for issue of paper money for Portuguese overseas territories. The bank's privilege of issuing notes was ratified by a governmental decree, which is displayed by it's reference on the note. In addition, the early notes bear the "Steamship Seal" of the bank. Later on, popular colonial images such as a temple, an elephant or a tiger were depicted on the notes. The notes were usually issued in denominations of 5, 10 , 20, 50, 100, 500 and 1000 "Rupias". The portrait of Afonso de Albuquerque, the "Conquistador" of Goa was introduced on the notes. In 1959, a currency reform was initiated. The denominational term was changed from "Rupias" to "Escudos" and notes were issued in equivalence. Thus the new denominations were 30, 60, 100, 300 600 and 1000 Escudoes. These notes bear the allegorical representation of Portugal, the mother country, reviewing her fleet.

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