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UPSC PYQPrelims 2020

Civil Services Examination · Question 25

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 subordinates
  2. A diary to be maintained for daily accounts
  3. A bill of exchange
  4. An order from the feudal lord to his subordinates
Show answer & explanation

Answer: (C) A bill of exchange

Explanation

A hundi was a bill of exchange/credit instrument used by merchants to transfer money.