My paternal grandfather told me a rather interesting story a few days back. It seems during the early years of the Great Depression, sometime in the early or mid 30s, the government of Kashmir had a huge amount of rice lying unsold. To get rid of it, they offered one khaar (a unit of weight also known as kharwar) of rice for Rs 4

One khaar was equal to two manns and some sers. In kilogram terms one mann was around 40 kgs. So two manns, would mean around 80 kgs. Let's ignore the sers for the sake of convenience of calculation. The government was basically offering little over 80 kgs of rice for Rs 4. Even at that price there were no takers.So the price was gradually reducedfirst to Rs 3, then to Rs 2, then Re 1 and finally to 12 annas. During those days 64 paisa constitutedone rupee.There was 16 annas in a rupee. So 12 annas would mean 48 paisa.In order to maintain a sense of comparison with current day currency, we can say that 80 kgs of rice was being sold at 0.75 rupee.