It was founded in 1910 by a group of (mainly) expatriate Englishmen associated with British rule in India.
The first President was Sir John Stanley, Chief Justice of the Allahabad High Court.
[1] R. B. Whitehead was the first Honorary Fellow of the Numismatic Society of India.
[2] NSI is situated within the Banaras Hindu University campus.
The Numismatic Society of India recognizes academic achievement by conferring the following awards:[3]