Answer: They are key instruments of credit in the unorganized money market in India
Notes: A Hundi is a financial instrument used in the unorganized money market in India, functioning as a promissory note or bill of exchange. Historically, Hundis have been used for trade financing and remittances, facilitating credit transactions without formal banking systems. They play a crucial role in the informal economy, especially in rural areas, where access to traditional banking is limited.
This Question is Also Available in:
हिन्दी