2022-03-07 Mon

Hundis have a very long history in India. Hundi/Hundee is a financial instrument that was developed in Medieval India for use in trade and credit transactions. This system was also carried by the Republic of India after independence.

Shown above is the 2 Rupees Khadi Hundi Note of India. Khadi Hundis were issued as a local currency and were used as an exchange medium for khadi cloth. They could only be redeemed at a KHADI BHANDAR, the handwoven cloth outlets, on the occasion of Charkha Jayanti to promote small-scale industries. These issues commemorate Mahatma Gandhi for his dedication to poor women who spun Khadi cloth to improve their lives.

These 2 Rupees Khadi Hundi were issued in 1957 on the Charkha Jayanti.

Image Courtesy: colnect.com