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

[UPSC Civil Services Exam – 2020 Prelims]

(a) An advisory issued by the king to his subordinates

(b) A diary to be maintained for daily accounts

(c) A bill of exchange

(d) An order from the feudal lord to his subordinates


Answer: (c)

Explanation:

  • The hundi emerged as a financial instrument during Medieval India and was utilized in various trade and credit activities. It served multiple purposes, including:
    • Remittance: Hundis were employed as instruments to transfer funds from one location to another.
    • Credit: They functioned as credit instruments, enabling individuals to borrow money.
    • Trade Transactions: Hundis served as bills of exchange in trade transactions, facilitating commercial activities.

Therefore, option (c) is the correct answer.

Consider the following statements:                                                                   The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

Read More »

Consider the following statements:                                                         The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

Read More »
Loading...
Left Menu Icon