what are hundis? explain in detaik?
Answers
Answered by
3
A Hundi 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.
Answered by
1
Hundis are instruments drawn by Indians in an oriental language. These are bills of exchange in vernacular language. Hundis have been in existence in this country from very ancient times and have been recognized by law as valid and effective negotiable instruments.
Similar questions