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

Which of the following phrases defines the nature of the ‘Hundi’ generally referred to in the sources of the post-Harsha period?(2020)

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

Hundi can be defined as a financial instrument or a negotiable bill of exchange, which was used for carrying out trade and credit transactions during the Medieval period in India. A Hundi is primarily an unconditional contract or order which warrantees a monetary payment which can be transferred by valid negotiation.


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