These kinds of doubly recurved blades are typically relatively modern interpretative weapons which are best described as South Indian flamboyant or 'temple' swords typically associated with the Nayars (a former military caste in Malabar regions). The extravagant blade forms, such as with this example, described by Rawson as 'deep bellied kopis form' is similar to one depicted as a 'virigal executioners sword of the 10th c.'. A virigal is a Hindu tombstone for military heroes (Rawson, p.41). It is noted that the sword design is derived from sculptures at Barabadur in Java.
These swords are typically regarded as for ceremonial or processional use and that "..display in the outward and visible aspect of the forms was what was sought " (Rawson, p.39) and that "...imaginative extravagance was allowed free play and that display was given an overwhelming preponderance over use". Further noted was that thier forms must be regarded as the products of fantasy rather than use.
These kinds of iconographic atavism are seen often in ethnographic weapons, and while the Hindu baskethilt suggests a weapon probably considerably antedating most of the flamboyant Nayar temple weapons, its overall intention seems to fall in place with similar uses. As far as I have known these weapons have not been used in sacrificial ceremonies, though as a processional type weapon this lacks the familiar piercings for attaching jingles.
For those who chose to read further:
"The Indian Sword" Philip Rawson, 1968
"Siviganga Swords" C.S.Clarke, 'Burlington Magazine', 1916,London
"Castes and Tribes of Southern India" E.Thurston, Madras, 1909 (Nayars)
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