Thankyouy Tatyana,  my memory must be at fault, perhaps i just thought of bidding! 

   I think it was about 4 months ago? You did well.  Its a very nice kukri.
I suspect the red paint is of Religous or spiritual meaning, red powders, spices ar scattered widley during Hindu celebrations & sacraficial  festivals I understand.  one sees it commonly on sacraficial kora.
I think the kukri of such subtle patterns was peraps not originaly etched, but just made in the manner of shear steel to do an efficent job, But truly i dont know. I am just speculating.
Tim Lots of these do have steel handles its also usual for them to be braised .  A quick magnet test by Tatyana  would confirm one way or another  of course.  Ornate white handles are not common, embosed & engraved Steel is much commoner & of course requires greater skill to work & 
far  more resistant to denting etc.
Spiral