Watch List notes:

Republic India, 1985-1990, Error 50 Rupees, Signed by R. N. Malhotra, Error: Butterfly error, approx. 20% extra paper at the top leaving the unprinted area on the reverse in butterfly form, an unprinted portion of reverse is printed on the obverse on extra paper, S. No. 7MH 133597, folds, pinholes, about extremely fine, Rare.