Watch List notes:

British India, 1938, King George VI, 100 Rupees, Bombay Circle, Signed by C.D. Deshmukh, B Prefix, S. No. B32 134057, (KJ & RR # 4.7.2A), staple holes at issue, spindle hole, graded by PMG as 55 About Uncirculated, Very Rare in this grade.

Note: A perfect and handsome example with no signs of being in circulation. The typical staple and spindle holes are noted for their accuracy on this banknote.