Question

what was a hundi? why it was important for the traders to buy a hundi?​

Answer 1

Answer:Hundi is a promissory note or a bill of exchange used to remit money from one end to the other. he 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.

Explanation:

Answer 2

Explanation:

• Hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions.

For example

• Mr. X signs a hundi to pay Mr. Y , say Rs.5,000/- after 50 days .
• So, Mr. Y will get the money only after 50 days from A on showing him the hundi he signed.