FINANCERS AND CASH NEXUS POLICY IN 17TH CENTURY IN EASTERN RAJPUTANA
Keywords:
Banking, economy, financeAbstract
The article is an attempt to examine the nature of the banking and the role of the states in promoting the commercial facilities in the Kachhawah state of Amber. The study of the documents reveals that the state paid off its debt through assigning the right of land revenue to the financier. This implies that the financier advanced the money for atleast six months or a year which ran along with harvesting seasons. The similar situation was applicable also to peasants who could pay the debt only after the collection of crops. Thus, in such cases the amount of interest was higher than of the amount given on credit for a month. However, the references to the involvement of the local mahajan in making taqavi to the agriculturists and their interests to get loan back directly or indirectly does give evidences of the effect of this system on the agriculture production. However, the investment made by the financiers in purchasing right to collect revenue (land on ijara) engaged at their capital in an unproductive sector.
References
Brijkishore Bhargava, Indigenous Banking in Ancient and Medieval India, Bombay, 1934, P-30-33
Irfan Habib, ‘Banking in Mughal India’, contributions to Indian Economic History, Calcutta, 1960, P-6-8
Ibid – P. 10-11
Letter dated Maha Vadi 4, 1721 by Akheraj to Diwan Kalyandas
Letter dated Phalgun Vadi4, 1721, written by Akha to Diwan Kalyandas Amber records. R.S.A. e.f. S.P. Gupta, pp. 50-52
Ibid –55-56.
Brijkishore Bhargava, Op. cit, P. 233
Letter dated Maha Vadi 13,1721 written by Harji and Sadanand of Pargana kohre to Diwan Kalyandas Letter No. 57, 16/92, Amber Records.
Ibid, 16/93
H,C, Sharma, Growth of Banking in a Developing Economy, (Agra,1969) P. 11-13
Ibid, 15.
Dilbagh Singh, ‘The State, Landlord and Peasants, New Delhi: Manohar Publication, 1990, 42-45
Letter dated Phalgun Vadi 14, 1721 written by Shah Mirdhar (Amil of the pargana) to the diwan, Amber Records, P. 21/97
Ibid, 21/98
Dilbagh Singh, ‘The State, Landlord and Peasants, New Delhi: Manohar Publication, 1990, 42-45
Ibid., 46
Ibid., 49-50
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