Question
Download Solution PDFWhich of the following phrases defines the nature of the 'Hundi' generally referred to in the sources of the post-Harsha period ?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe Correct Answer is option 3.Key PointsHundi:
- It is a financial instrument that developed in Medieval India for use in trade and credit transactions.
- They were used
- As remittance instruments (to transfer funds from one place to another)
- As credit instruments (to borrow money)
- trade transactions (as bills of exchange).
- Hence option 3 is correct
Additional Information
- The period assigned to Harsha or Harsha Vardhana reign is 606 AD until 648 AD.
- Chinese Pilgrim Huen Tsang visited Harsha.
- Harshacharita was authored by Banabhatta.
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