Which of the following phrases defines the nature of the ‘Hundi’ generally referred to in the sources of the post-Harsha period?
This questions was previously asked in
UPSC CSP Previous Year Paper (2020)
An advisory issued by the king to his subordinates
Incorrect AnswerA diary to be maintained for daily accounts
Incorrect AnswerA bill of exchange
Correct AnswerAn order from the feudal lord to his subordinates
Incorrect AnswerExplanation:
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 to borrow money and as a bill of exchange in trade transactions. Hence option 3rd is correct.
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By: Abhipedia