1/4 Anna WWII Cash Coupon

Balwan was a minor thikana in the Ajmer region, not a recognized princely state with treaty rights, which makes any fiscal instrument bearing its name an administrative curiosity at best. During the Second World War, acute metal shortages across the subcontinent forced dozens of small Indian states and localities to issue emergency cash coupons on paper or cardboard as fractional currency substitutes. Most circulated within a single village economy and were redeemed — or more often simply discarded — once metal coinage returned to circulation after 1945.