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UPSC 2020: Which of the following phrases defines the nature of the ‘Hundi’ generally referred to in the sources of the post-Harsha period?
(a)An advisory issued by the king to his subordinates
(b)A diary to be maintained for daily accounts
(c)A bill of exchange
(d)An order from the feudal lord to his subordinates
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Not attemptedCorrect Answer: (c) A bill of exchange
A ‘Hundi’ was an indigenous negotiable instrument functioning as a bill of exchange used by merchants and money-lenders for remitting money or extending credit; contemporary legal commentaries describe it as “an oriental form of bill of exchange”. Hence option (c) is correct, whereas the other options describe royal/feudal orders or account books, not financial instruments. ([indiankanoon.org](https://indiankanoon.org/doc/222931/?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2020 Ancient History question?▼
The correct answer is option (c): A bill of exchange. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this Trade & Economy question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2020, GS Paper 1, as Question 25. It falls under Ancient History > Trade & Economy.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from Trade & Economy?▼
UPSC has asked 7 questions from Trade & Economy (under Ancient History) across multiple years. Visit the topic page to see the full list and year-wise trends.