mention the main achievement of rajaraja the great
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mention the main achievement of rajaraja the great.
More than calling it as an achievement, I would say this as something that has been practiced before a myriaannum, the practice of banking.
We do know about the Brahadeeswara temple built by Raja raja chola. After building the temple offerings to Lord Brahadeeswara flowed in terms of money. The funds and offerings was collected and safeguarded under the name “Rajarajeswaramudaiyar perum pandaram”, in the temple, which acted as a bank during that period.
Actually, what Rajaraja chola did was he lent the money to traders and businessman from the bank of the Temple in His Kingdom. They have to pay back with interest, for each Kaasu, one has to give Arai kaal kaasu (1/8) per year. That is nearly 12.5% interest. This was called as “Polisai Vatty”.
Raja raja chola ordered the priests to offer 150 bananas to Lord Ganapathy per day, settling an amount of 360 kaasu for a year in the bank.
The business tactic comes here,
If we need 150 bananas a day, then for a year we need 54000 bananas.
During those days they had,
1200 bananas for 1 kaasu
Then to buy bananas for a year we need 45 kaasu
The interest for 360 kaasu a year is calculated to be 45 kaasu
i.e., 360*(1/8)= 45
So the bank that was given 360 kaasu can buy from this interest amount.
This is being used by banks now a days. Hope you all got the logic.
If you are a wanderlust and crazy to find if it is true or not, it is inscribed in the walls of Lord Ganapathy Temple.
#hopeithelps.
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