While India has a rich history of commerce, mathematics, and early financial systems — including the use of coins and early forms of banking — it was not the first country to create paper currency. India relied primarily on metallic coinage for centuries and did not introduce paper money until much later in history, well after China had established it during the Song Dynasty. The Reserve Bank of India began issuing official notes only in the 20th century. India’s financial heritage includes innovations like the concept of zero, complex trade networks, and early forms of credit systems, but paper currency was adopted through external influences much later in its timeline. Misattributing the origin of paper currency to India overlooks the clear historical evidence pointing to China. While India has been a leader in financial and mathematical thought, the invention of banknotes originated elsewhere.