The highest denomination currency note ever printed by the Reserve Bank of India is a ₹10,000 note during the British Raj in 1938. While the note was demonetised in 1946, a new version of the note was introduced in 1954. However, the ₹10,000 note along with ₹1,000 and ₹5,000 notes were demonetised by the then PM Morarji Desai in 1978.