During World War I &
II, currency exigencies were experienced in different parts
of the country. To meet with it, some Indian Princely States
like Morvi, Dhrangadhra and Nawanagar issued currency notes
of limited liability known indigenously as "Hawalas".
The Jhalawad Bank, Dhrangadhra was having an arrangement
of issuing "Pay-Orders" to the Accountant General
of Dhrangadhra State for making payments.
During World Wars, some War-Camps were
set up in India to house the Prisoners of War. The monetary
transactions in these camps were facilitated by use of Coupons.
While some other
Indian Princely States, in World War II, issued "Cash
Coupons" of smaller denominations. They were issued from
State Treasuries and Banks under the State Patronage. They
were enjoying limited circulation within the State.
In the World-war times, "Coupons of
War Purpose Fund" were issued. In Bikaner and Hyderabad
through such Donation Coupons fund was raised.
In 1935 in Jaipur, Coupons
of "Their Majesties' Silver Jubilee Fund" were issued.
During 1950s, some memorial funds in the names of National
leaders like Gandhi, Kasturba, Jawaharlal Nehru etc. came
into existence. They were issuing the Fund Coupons against
the equal amount of money.
All India Khadi and Village Industries Commission
issued "Khadi Hundis" in form of Paper-Notes, which looked
like Currency Notes because of its colourful artistic designs. The
Hundis were valid and could be tendered only in any Khadi Emporium
to purchase Khadi Cloth or any Village Handicraft article. Thus
it had a limited power of purchase i.e. only from Khadi Stores.
All these Coupons were in form of paper and were
used as or issued against money. Hence it is a subject of interest
Some specimens are illustrated here in this section.