Watch List notes:

India. Hyderabad State, Mir Osman Ali Khan, Five Rupees, Signed by Zahid Hussain (1945), Serial Number PP 338662. Obv. Sarkar-e-Ali at top center. Hyderabad State coat of Arms on the top left and watermark window on the top right, promise text and denomination reading 'Paanch Rupye Sicca Osmania' in three lines at center surrounded by regional language, two serial numbers below in red. Signature and for the Government in Urdu at bottom center. Rev. 5 Hyderabad Rupee coins at the center. Numeral 5 at top right. all inside a designer frame. Fine+, Scarce.