Paper currency bill in 1861. Issue of notes now rested with the govt.

Mansfield Commission in 1866. Recommends the introduction of a 'universal note'

encashable in any area rather than in a particular geographical area.
Decline of silver from 1874-93. Decline of bimetallism in different countries around the
globe.
Herschell Committee in 1892. First step towards the eventual gold standard.
Silver standard 1835-93
Fowler Committee of 1898. Recommended:The introduction of a
gold standard for India.
Gold standard reserve formed in 1906.
Profits from coinage to be credited to the Gold Standard Reserve
Whole reserve to be located in London
Chamberlain Commission. Exchange rate was put to a severe test
in 1907-8 with the balance of trade against India. Steps were taken
to make the Gold Reserve more liquid .
Exceptional demand for rupees following a favourable trade balance
New rate for Council Bill issued
First World War
stabilization of the rupee
fixed exchange value in terms of gold
Babington Smith Committee. Was asked to give suggestions on
ensuring a stable gold exchange standard.Recommended:
Royal Commission on Currency and Finance in 1925.
Recommended the amalagamtion of paper currency and gold
standard reserve, reintroduced the one rupee note and
recommended the establishment of a central bank for India.