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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 ?
Explanation
The correct answer is Option 3.
In the economic history of the post-Harsha and medieval periods, a Hundi was a sophisticated financial instrument used by merchants and bankers. It functioned as a bill of exchange, serving as a written unconditional order involving a person directing another to pay a specific sum of money to a person named in the order.
The significance of the Hundi lies in its role in facilitating long-distance trade without the physical movement of bulky cash, thereby reducing the risk of theft. It acted as both a credit instrument and a means of remittance. Unlike the other options:
- Options 1 and 4 describe administrative or feudal commands (edicts/orders), whereas a Hundi was strictly a commercial document.
- Option 2 refers to a ledger or Bahi-Khata, used for record-keeping rather than financial transfer.
Thus, the Hundi represents the advanced indigenous banking system prevalent in pre-colonial India.
PROVENANCE & STUDY PATTERN
Guest previewThis is a classic 'Term Definition' question. While the 'post-Harsha' tag adds a layer of specificity, the term 'Hundi' is a staple of Medieval Indian Economic History found in standard NCERTs and Economy texts. Do not overthink the timeline; if the term matches the function (Bill of Exchange), mark it.
This question can be broken into the following sub-statements. Tap a statement sentence to jump into its detailed analysis.
- Statement 1: In Indian history sources of the post-Harsha period, was "Hundi" an advisory issued by the king to his subordinates?
- Statement 2: In Indian history sources of the post-Harsha period, was "Hundi" a diary to be maintained for daily accounts?
- Statement 3: In Indian history sources of the post-Harsha period, was "Hundi" a bill of exchange?
- Statement 4: In Indian history sources of the post-Harsha period, was "Hundi" an order from the feudal lord to his subordinates?
This source poses a multiple-choice question asking which phrase defines the nature of 'Hundi' in post-Harsha sources and explicitly lists 'a bill of exchange' as an option contrasted with 'an advisory issued by the king'.
A student could take this classification clue and check contemporaneous economic/merchant records or standard histories to see if 'Hundi' is treated as a financial instrument rather than a royal advisory.
Describes a ministerial/council system (Mantri Parishad) where advice and advisories were part of polity, indicating that 'advisory' was a recognized administrative concept in the period.
A student could compare the kinds of documents produced by councils/ministers (edicts, orders, advisories) with references to 'Hundi' in epigraphic or literary sources to see if 'Hundi' matches those administrative genres.
Gives an example where magnates and ministers advised political action (inviting Harsha), showing 'advice' as a political mechanism and a possible semantic category for some documents.
One could use this example to ask whether 'Hundi' appears in contexts of political counsel or instead in commercial/financial contexts (supporting or refuting the 'advisory' reading).
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This statement analysis shows book citations, web sources and indirect clues. The first statement (S1) is open for preview.
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This statement analysis shows book citations, web sources and indirect clues. The first statement (S1) is open for preview.
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