Centuries old annual barter trade takes place in Assam. This mela is known as Joon Beel Mela. People from Assam, Arunachal Pradesh and Meghalaya take part in this 3 day annual fair, where commodities are exchanged through the barter system. You can read about the Monetary System – Types of Monetary System (Commodity, Commodity-Based, Fiat Money) in the given link.

On December 1, 2015, Reserve Bank of India (RBI) officially put an end to the barter system of trading along the Indo-Myanmar border.

Further readings:

1. Indian Economy Notes for UPSC Civil Service Exam
2. Monetary Policy – Objectives, Role, Instruments