Hundi Manuscript

Hundi refers to a traditional financial instrument used to facilitate trade and credit without immediate cash exchange. Used widely by merchants and financiers, hundis acted as remittance instruments, IOUs, or bills of exchange.

Defined by the Reserve Bank of India as “an unconditional order in writing,” hundis operated on trust and reputation, often endorsed multiple times as they changed hands.

These folios crafted from handmade paper and inscribed with organic black ink often feature seals, secret marks, and coded text understood only by sender and recipient. The Haribhakti firm used hundis across India and beyond, enabling credit systems that underpinned trade.

Dating from the 18th to the early 20th centuries, with some as late as 1920, these documents including some over half a meter long reflect the legacy of traditional Indian finance. They are preserved in the Ishwar Haribhakti Archives, where ongoing digitization efforts aim to deepen our understanding of historical trade and economic systems.