1.

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 subordinates2. A diary to be maintained for daily accounts3. A bill of exchange4. An order from the feudal lord to his subordinates

Answer» Correct Answer - Option 3 : A bill of exchange

The Correct Answer is A bill of exchange.

 

  • Hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions.
  • They were used
    • As remittance instruments (to transfer funds from one place to another)
    • As credit instruments (to borrow money)
    • trade transactions (as bills of exchange).

  • The period assigned to Harsha or Harsha Vardhana reign is 606AD until 648 AD. 
  • Chinese Pilgrim Huen Tsang visited Harsha.
  • Harshacharita was authored by Banabhatta.


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