Which of the following phrases defines the nature of the 'Hundi' generally referred to in the source

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Question

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

Accepted Answer

Correct Answer: C — A bill of exchangeStep-by-step Solution:Hundi is an indigenous financial instrument used in India for centuries, especially during the medieval period (post‑Harsha). It functioned as a bill of exchange — a written order by one party to another to pay a certain sum of money. It facilitated trade and transfer of funds across distances without physical movement of cash. ✓Why other options are incorrect:Option A: An advisory is a 'parwana' or 'farman'.Option B: A diary is 'rojnamcha' or 'bahi'.Option D: An order from a feudal lord is 'nizam' or 'hukm'.Key Concept: Hundis are still used in some informal money markets. They have various types: darshani hundi (payable on demand), muddati hundi (payable after a period), etc. The RBI has a museum dedicated to hundis.

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

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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?

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