Choose that the given statement is true/false.

Traders and moneylenders went into the forests to buy forest produce and offer cash loans to local tribes.

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

True

False

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is true.
Traders and moneylenders went to the forests to buy forest produce and offer cash loans. An example of this system was silk producers of the Santhal tribe. The Santhal tribe community, reared cocoons in the area of Hazaribagh in Jharkhand. By the eighteenth century, Indian silk was highly in demand in European markets. The fine quality of Indian silk was highly valued and exported from India to various European markets. So the Silk traders sent agents to these tribes to give them loans and collect cocoons. But these cultivators were paid Rs 3 to Rs 4 for a thousand cocoons.

Watch 3-min video & get full concept clarity