Sher Shah Suri, during his five - year rule from 1540 to 1545, set up a new civic and military administration and issued a coin of silver, weighing 178 grains, which was termed the Rupiya. The silver coin remained in use during the Mughal period, Maratha era as well as in British India. Among the earliest issues of paper rupees include the Bank of Hindostan (1770 -- 1832), the General Bank of Bengal and Bihar (1773 -- 75, established by Warren Hastings), and the Bengal Bank (1784 -- 91).
the mughals adopted the rupee from the currency developed by
Sher Shah Suri