Question

How were the hundis is beneficial for the traders in 17th century?
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Answer 1

Answer:

Hundi/Hundee is a financial instrument that developed in Medieval India for use in trade and credit transactions. Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions. The Reserve Bank of India describes the Hundi as "an unconditional order in writing made by a person directing another to pay a certain sum of money to a person named in the order."[1]

Explanation:

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Answer 2

Answer:

✒ How were the hundis is beneficial for the traders in 17th century?

➡ Hundis were the financial instruments that were evolved on the Indian subcontinent and it was used in the trade and credit transactions. ... However, the main advantage of hundis was that it made the trade easier and reduced the risk of robbery because due to the hundis, people rarely carry a big amount (money) with them.

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Explanation:

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