Question

what do you understand by term hundi

Answer 1

HEY friend

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◆◆ what do you understand by term hundi◆◆

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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. 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

Answer 2

Hey mate !!

Here is your answer.......

HUNDI -

A HUNDI is a financial instrument that developed in Medieval India for use in trade and credit cards. Hindus are used as a form of remittance instrument to transfer money from place to place, as a former of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions.

Hope it helps !!