Watch List notes:

British India, 1938, King George VI, 1000 Rupees, Bombay Circle, Signed by J.B. Taylor, Eight seals on the obverse and Nine seals on the reverse in blue ink reads "PAYMENT REFUSED UNDER ORDERS OF THE CENTRAL GOVERNMENT" and also written in red ink on the obverse, a 'CANCELLED' seal at the back, A Prefix, S. No, A6 050511, (KJ & RR # 4.8.1A), seals at both sides, holes, stains, folds, graffiti, graded by PMCS as 25 Very Fine, Extremely Rare.

Note: The payment refused seals on this banknote are quite interesting. There was a demonetization of the high-value notes of Rupees 500, 1000, and 10000 in circulation in January 1946, including Uniface notes which were in circulation at that time. The exchange of these notes was governed by a specified time and method that had to be followed. 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".