Introduction Banias and Sarrafs were important financial and commercial communities in pre-colonial and colonial India. They played a significant role in money lending, trade, and banking activities. While Banias were mainly involved in wholesale and retail trade, Sarrafs specialized in money-changing and banking functions. In this post, we will explain their roles and significance in […]
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Introduction During the medieval period in India, the economy witnessed increasing monetization, commercial expansion, and growth of long-distance trade. In this evolving economic environment, sarrafs—money changers, bankers, and financiers—played a central role. Sarrafs were not merely moneylenders or currency exchangers; they were vital intermediaries in the financial and commercial life of medieval India. Their services
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