1 Rupee 1941, Hyderabad State
| in Krause book | Number: S281a |
| Years of issue: | 1941 - 1945 |
| Edition: | -- |
| Signatures: | Financier and advisor to the Nizam of Hyderabad: Malik Ghulam Muhammad (1941 - 1945) |
| Serie: | Seventh issue (1941-1945) |
| Specimen of: | 1941 |
| Material: | Cotton fiber |
| Size (mm): | 97 x 61 |
| Printer: | Government of India Mint and the Security Printing Press, Nasik, India |
* All pictures marked 
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** The word "Specimen" is present only on some of electronic pictures, in accordance with banknote images publication rules of appropriate banks.
Description
Watermark:
Avers:
In top left corner is the coat of arms of Hyderabad. It bearing a crescent with
five pointed star (as symbol of islam); a shield depicting the “kulcha”, a loaf of bread, all surrounded by the Nizam's crown. Thanks to Mr. John E.Sandrock for necessary info.
To answer the question about the story of the kulcha and the nizams, it is important to go back to the originals of the Asaf Jahi empire. The largest unit in the Mughal Empire was the Subah or a Province. The biggest Subah was the Subah-i-Dakhan or the province of Deccan. After the death of Auranzeb, the Mughal empire was in decline. The imperial court of Delhi was steeped in profligacy, debauchery and general state of dissoluteness. The old timers felt pained that the great imperial court and the “Mughalia sultanat” had sunk so low. One of these was Mir Qamruddin.
Mir Qamruddin.The man who ate the seven kulchas
Mir Qamruddin, the first Nizam of Hyderabad, founder of the Asaf Jahi dynasty of Hyderabad.
Mir Qamruddin was a old courtier in Delhi court and his family had served the Mughal emperors on high positions for many years. However, Mir Qamruddin was very unhappy about the state of affairs. According to his biographer, he grew to hate the "harlots and jesters" who were the Emperor's constant companions and greeted all great nobles of the realm with lewd gestures and offensive epithets. Nizam ul-Mulk's desire to restore the etiquette of the Court and the discipline of the State earned him few friends. Envious and malicious courtiers poisoned the mind of the Emperor against Mir Qamruddin.
Mir Qamruddin was informed that he was appointed the “subedar-i-dakhan” or the governor of Deccan. He decided to take up the appointment and leave Delhi for good. Before leaving, he decided to meet his spiritual guide, the Sufi mystic Hazrat Nizamuddin Aurangabadi. Hazrat Nizamuddin invited him for a meal and offered him kulchas tied in a yellow cloth. Mir Qamruddin apologized for his hunger, on which Hazrat said that he could eat as many kulchas as he wanted. Mir Qamruddin wolfed down seven kulchas. Hazrat Nizamuddin then blessed him and prophesized that one day he would be king and that his descendants would rule for seven generations.
This prophecy came to be true. Soon after Mir Qamruddin came to Deccan, Nadir Shah invaded and sacked Delhi. All vestiges of Mughal power were gone. Soon the Nizams, who were simply governors, declared their de facto independence from the Delhi court. As prophesized, seven generations of Nizams would rule of the biggest kingdom in India. The seventh Nizam, Nawab Sir Osman Ali Khan joined the Indian union after the Hyderabad police action by the Indian army. The eighth descendant, Mukarram Jah would only inherit the title but nothing else. (Indian Royalty)
Denominations in numerals are centered, right and left, and in top right corner.
Revers:
Centered are an obverse and reverse of the Hyderabad silver rupee coin, minted there.
Reverse of the coin depicting the ancient Char Minar mosque.
The Charminar, built in 1591 CE, is a monument and mosque located in Hyderabad, Telangana, India. The landmark has become a global icon of Hyderabad, listed among the most recognized structures of India. The Charminar is situated on the east bank of Musi river. To the west lies the Laad Bazaar, and to the southwest lies the richly ornamented granite Makkah Masjid.
The English name is a translation and combination of the Urdu words Chār and Minar, translating to "Four Towers"; the eponymous towers are ornate minarets attached and supported by four grand arches.
Denominations in words are centered (top and bottom).
Comments:
I got this note from one woman from United Kingdom, whos father was served in british military forces in India, during second world war.
The Hyderabadi Rupee was the currency of the Hyderabad State from 1918 to 1959. It coexisted with the Indian rupee from 1950. Like the Indian rupee, it was divided into 16 annas, each of 12 pai. Coins were issued in copper (later bronze) for denominations of 1 and 2 pai and ½ anna, in cupro-nickel (later bronze) for 1 anna and in silver for 2, 4 and 8 annas and 1 rupee.
Hyderabad was the only Indian princely state that was permitted to continue issuing its own notes after joining the Dominion of India in 1948 and the Republic of India in 1950.
The Government of Hyderabad made several efforts to organize private bankers to set up a banking company which could issue paper money. The British, however resisted the attempts of Indian princely states to issue paper currency. The acute shortage of silver during the First World War and the contributions of Hyderabad to the British war effort led them to accept, in 1918, paper currency in denominations of Rs.10/- and Rs.100/- issued under the Hyderabad Currency Act.
The currency was designated the Osmania Sicca (OS). One and five rupee notes were subsequently issued in 1919 and one thousand rupee notes were issued in 1926. After the setting up of the India Currency Notes Press at Nasik, Hyderabad notes came to be printed there.
In 1942, the Government of Hyderabad established the Hyderabad State Bank, with the responsibility, inter alia, of managing the OS. Hyderabad continued to mint its own coins until 1948, when India conquered the state after the Nizam refused to cede it to the new republic.
In 1950, the Indian rupee was introduced alongside the local currency, with the relationship of 7 Hyderabad rupees = 6 Indian rupees being used. In 1951, the Hyderabad rupee ceased to be issued and the Indian rupee became the main circulating currency, although the Hyderabad rupee was not demonetized until 1959.
The banknotes of Hyderabad were issued from 1918 until 1953. The ruling Nizam of Hyderabad was Mir Osman Ali Khan. Notes issued as early as 1916 have been reported. The notes are dated in the Fasli Era, so adding 589 to the FE date will convert it to the AD date.
In 1932, a quantity of unissued, but water stained Hyderabadi notes in 5, 10, and 100 rupee denominations were recovered from the S.S. Egypt, which sank off the island of Ushant near Brest, northern France in 1922. Many of these were given a special stamping and sold as souvenirs. These notes were in the process of being shipped from England where they had been printed. These notes are of historic interest to notaphilists. Some of the notes are printed slightly later than the dates that they bear.
The double letter serial number prefix determines what series the note is located in. Some of the 1939-53 issues have a single serial number prefix series code letter.
Malik Ghulam Muhammad (Urdu: ملک غلام محمد; Bengali: মালিক গোলাম মাহমুদ; 20 April 1895 - 12 September 1956) commonly known as Ghulam Muhammad, was a notable Chartered Accountant who served as the third Governor-General of Pakistan from October 1951 until being dismissed in August 1955. Prior to that, Ghulam Muhammad was also as well as the first Finance minister of Pakistan from 15 August 1947 until being elevated as Governor-General in 19 October 1951.
Born and hailing from Lahore, British-controlled Punjab Province (now part of modern Pakistan), Ghulam Muhammad educated and graduated from the prestigious Aligarh Muslim University (AMU), and started his professional career in accountancy from Mahindra and Mahindra Limited.
After the World war II, Ghulam Muhammad represented the Nawab of Bhawalpur during the Round Table Conferences, and during it was this time, when he developed relations with Liaquat Ali Khan. He later served as financier and advisor to the Nizam of Hyderabad, but left to join the Ministry of Finance in 1946. When Liaquat Ali Khan became first Finance Minister of India in 1946, Ghulam Muhammad helped Ali Khan in advising the financial and economics affairs whilst assisted Ali Khan in drafting and preparing India's first budget which later culminated as "poor man's budget".
In 1947, Ghulam Muhammad joined the Indian Railway Services and initially worked as a financial auditor at the Indian Ministry of Finance. Prior to independence of Pakistan, Ghulam Muhammad settled back to his native city, and subsequently elevated as country's first Finance minister. As Finance minister, he is credited for drafting and formulating the Soviet-style high centralised plans for the national economy, and presented the First Five-Years Plans in 1948.
Prior to the assassination of Prime minister Liaquat Ali Khan, Ghulam Muhammad was appointed as third Governor-General by Prime minister Khwaja Nazimuddin, who was dismissed by Ghulam Muhammad in matter of two months. He is held responsible for launching anti-communist campaigns in East-Pakistan and brought forward the role of the Pakistan Armed Forces in national politics. He notably dissolved the Parliament after concluding that his powers were being threatened and keenly devalued democratic norms in the country. Ghulam Muhammad left the office in extremely poor health in 1955 and died in his native city the following year.
Ghulam Muhammad is considered a negative figure in Pakistan's history, giving rise to political intrigue, undermining civilian control of the military by declaring martial law, and devaluing democratic norms by sacking parliament. 
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