Watch List notes:

British India, 1938, King George VI, 1000 Rupees, Bombay Circle, Signed by J.B. Taylor, two seals on the obverse and one seal on the reverse in black & blue ink reads "PAYMENT REFUSED UNDER ORDERS OF THE CENTRAL GOVERNMENT", A Prefix, S. No, A7 360679, (KJ & RR # 4.8.1A), bank seals at reverse, holes, stains, folds, graffiti, very fine, Extremely Rare.

Note: It is interesting to observe payment refused seals on this banknote. The high-value notes of Rupees 500, 1000 & 10000 in circulation including Uniface notes were demonetized in January 1946. A specified time and method as prescribed to exchange these notes. When these notes were presented for exchange after the specified period the notes were inscribed with a rubber stamp that reads "Payment refused under orders of the Central Government".