Question

what is the meaning of Hundi? please can you define me its meaning?

Answer 1

Explanation:

An informal system for transferring money, especially in South Asia, in which local agents disperse or collect money or goods on behalf of friends, relatives, or other agents without legal protection or supervision, trusting that all remaining obligations will be settled through future transactions.

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Answer 2

Answer:

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Hundi

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.

(✷‿✷) extra information (✷‿✷)

What is hundi in business studies?

ans:-

Hundi is a negotiable financial instrument which consists of an unconditional contract to warrant the payment of money, the promise or order.

What is hundi and its types?

ans:-

It was further held that there are three types of hundi which are darshani hundi that are payable on sight, muddati hundi that are paid after a specified time and shah jog hundi which are paid only to a person who has respectable standing .

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