First coins in Indian history bearing the names and images of rulers were issued by the :

The Indo-Greeks, who ruled parts of north-western India starting in the 2nd century BCE, were the first to issue coins in Indian history that featured the names and portraits of the rulers. Prior to their arrival, the prevailing currency consisted of punch-marked coins (issued by dynasties like the Mauryas), which bore various symbols such as the sun, trees, or animals, but lacked inscriptions or royal imagery.

• Distinctive Features: Indo-Greek coins were typically die-struck and featured the king's bust on the obverse and a deity or religious symbol on the reverse.
• Bilingual Legends: These coins often carried bilingual and biscriptal legends, usually in Greek and Prakrit (using the Kharosthi script).

This practice of depicting the sovereign on currency was a significant departure from earlier Indian traditions and heavily influenced the coinage of subsequent dynasties, including the Kushanas and the Guptas.