In earlier times, the
name for a letter of credit issued from a mercantile house.
By the early 1800s, these letters functioned as a virtual
currency, since in some cases they would pass through twenty or thirty
transactions before being returned for payment.
Hundis are significant because they allowed families to
transact business over large areas without having to actually carry large sums
of money with them and thus helped to foster long distance trade.
In modern times, this is also the most common term for a
temple collection box, where visitors deposit their offerings.
You may also want to read more about Hinduism here.
Be sure to check out my writings on religion here.
