Civil Services Prep

Prelims 2020 · Medieval History · Question 45

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

  1. An advisory issued by the king to his subordinates
  2. A diary to be maintained for daily accounts
  3. A bill of exchange
  4. An order from the feudal lord to his subordinates

Answer

A bill of exchange

  • (a) An advisory issued by the king to his subordinates — This does not define hundi. Royal orders/advisories were administrative instruments, not financial credit documents. Verdict: Incorrect.
  • (b) A diary to be maintained for daily accounts — A hundi was not an account book or ledger. It functioned in trade and credit circulation. Verdict: Incorrect.
  • (c) A bill of exchange — Hundi is generally understood as an indigenous financial instrument, essentially a bill of exchange/remittance note used in trade. Verdict: Correct.
  • (d) An order from the feudal lord to his subordinates — This is a feudal-administrative command, not a mercantile credit instrument. Verdict: Incorrect.
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