Crafts people and merchants formed an association known as ____.

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Detailed Solution

Crafts people and merchants formed an association known as shrenis.
The guilds formed by the crafts people, merchants, traders and artisans were known as shrenis. There were different types of Shrenis for different occupations. These shrenis were a particular group of persons engaged in different types of activities. These shrenis organised trades and provided training to the people who wanted to learn the craft, they were also responsible to procure raw materials for the products and also had the duty to distribute the finished products to the customers. These shrenis also played the role of the banks. The references to the formation of these shrenis have been found around the fifth century BC.

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