The correct answer is (a) 1862.
Paper currency was first introduced in India in 1862 by the British East India Company. The first paper currency issued by the company was the Indian Rupee, which was divided into 100 paise. The Indian Rupee was initially pegged to the British pound sterling, but it was later devalued several times.
The introduction of paper currency in India had a significant impact on the Indian economy. It made it easier for people to conduct business and trade, and it also helped to promote economic growth.
(b) 1542 is incorrect because paper currency was not introduced in India until 1862.
(c) 1601 is incorrect because paper currency was not introduced in India until 1862.
(d) 1880 is incorrect because paper currency was introduced in India in 1862.