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 and collection.

Some specimens are illustrated here in this section.

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