Crossword clues for hundi
hundi
Wiktionary
n. hawala (informal system of money transfer from India and the Middle East)
Wikipedia
A hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions. Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions. The Reserve Bank of India describes the Hundi as "an unconditional order in writing made by a person directing another to pay a certain sum of money to a person named in the order." The operation of the Hundi system has many parallels with the Hawala system also widely used in Africa, India and the Middle East.
Usage examples of "hundi".
The Hundi banking system, an underground, off-the-books network of money changers in the bazaar, handles more capital than the official banks, and is a convenient means for laundering drug profits.