In medieval India, the term “Fanam” referred to:

[UPSC Civil Services Exam – 2022 Prelims]

(a) Clothing

(b) Coins

(c) Ornaments

(d) Weapons

Answer: (b)

Explanation:

• During the medieval period, the Vijayanagar empire derived its primary income from land revenue. Abdur Razzaq noted that the empire had three types of currency, all made of gold mixed with alloy:
  • Varahab: This coin weighed approximately one mithkal and was equivalent in value to two dinars.
  • Lopeki: This was the second type of coin, and its value was half that of the pertab.
  • Fanam: The third type of coin was equal in value to one-tenth of the pertab.
• The fanam is a type of coin that is highly valuable and useful. It is made of pure silver and is six times smaller than a tar, which is another useful coin in the currency.
• The dijitel is a copper coin that is worth one-third of a tar.
• All provinces within the empire are required to bring their gold to the mint at a specific time period.
• If someone receives an allowance in gold from the divan, they must be paid using the darabkhana.

Therefore, option (b) is the correct answer.