What is hundi? How did it become an important form of monetary transac

Question

What is hundi? How did it become an important form of monetary transaction in Mughal period?

09 Sep 2024

Answer :

Word Count : 409

Hundi is a traditional form of bill of exchange or promissory note used in India, originating in ancient times. It served as a financial instrument for facilitating trade and transactions. During the Mughal period, hundis became an important part of the economic system, playing a crucial role in trade, banking, and the overall functioning of the Mughal economy.

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