what do you understand by the term 'Hundi'? how was this practice used in trade and commerce in medieval India
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→The exchange of money increased enormously with the growth of internal and foreign trade.The use of HUNDIS (bills of exchange) were used. It made long distance travel safe.
→A Hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions.
→Before travelling to distant places merchant would deposit money with sharrafs(moneychangers)and receive hundis. After reaching their destination the merchants received their money on producing the hundis.____________________________________________________________
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