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Question

Which of the phrases defines the nature of the ‘Hundi’generally referred to in the sources of the post-Harsha period?

(a) An advisory issued by the king to his subordinates
(b) A dairy to be maintained for daily accounts
(c) A bill of Exchange
(d) An order from the feudal lord to his subordinates

Answer:

C

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Explanation:

In the sources of the post-Harsha period, the term "Hundi" generally refers to a financial instrument or a bill of exchange. It was a widely used method of remittance and transfer of funds in medieval India. Hundi facilitated the transfer of money from one place to another, acting as a promissory note or a credit instrument. It allowed individuals to make payments or receive funds at different locations without physically carrying cash. Hundi was commonly used in trade and commerce, and it played a crucial role in facilitating economic transactions during that period.

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