Explanation:

Basic Information

• During the period c. 200 BCE–300 CE, there was a significant increase in the number of guilds, as well as in their scale of activities.
• Guilds appear to have had a close relationship with kings.
• The guilds were responsible for: internal administration of guild, work as arbitrator, provided training and internship, had judicial as well as banker role.
• The Yajnavalkya Smriti refers to the qualifications and powers of guild officers and discusses rules regarding apprenticeship. It also suggests the judicial role of guilds.
• Guilds even had influential role in the city administration.
• Some coins with the word ‘negama’ seem to represent coins issued by merchant guilds