Banking houses of Surat like ____ were popular even in far off markets like Cairo.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

Banking houses of Surat like Hundis were popular even in far off markets like Cairo.
Hundi is a note recording a deposit made by a person. The amount deposited can be claimed in another place by the record of the deposit. Hundis were honoured even in the far-off markets of Cairo in Egypt, Basra in Iraq, and Antwerp in Belgium. Surat was intensely active in the international maritime trade. Several retail and wholesale cotton textile shops were active in the region. Zari’s work on textiles was immensely famous. Zari's work was high in demand in West Asia, Europe, and Africa markets. Wealthy Kathiawar Seths and Mahajan set up huge banking houses.

Watch 3-min video & get full concept clarity