The year 2020 marks the centenary of India's first demonetisation of paper currency. It was in 1920 that the Nizam government in Hyderabad had withdrawn Rupee 1 paper currency from circulation. The Nizam had introduced Rs 10 and Rs 100 paper currency in 1918 and Rupee 1 in 1919 as there was severe shortage of metal particularly silver in view of the World War I.

from Times of India https://timesofindia.indiatimes.com/city/hyderabad/indias-1st-demonetisation-a-100-years-ago-in-hyderabad/articleshow/73826649.cms