Your question - who provide loan for foreign trade in ancient India?

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Merchants and moneylenders provided loans for foreign trade in ancient India. They played a crucial role in financing and facilitating commerce by offering financial assistance and credit to traders engaging in international trade.

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As an expert in ancient Indian history and trade, I can provide detailed information on who provided loans for foreign trade in ancient India.

Merchants and moneylenders played a vital role in financing and facilitating foreign trade in ancient India. These individuals or groups provided loans to traders participating in international commerce, enabling them to cover various expenses such as transportation, purchase of goods, and other necessary investments.

Due to my practical knowledge, I can say that merchants and moneylenders acted as key intermediaries in the trade process. They helped traders by offering financial assistance and credit, ensuring the smooth flow of goods and services across regions.

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Here are some interesting facts about loans for foreign trade in ancient India:

Varied Loan Structures: Merchants and moneylenders in ancient India devised various loan structures to suit the needs of traders. This included providing loans with or without interest, repayment schedules, and collateral requirements.
Role of Banks: Ancient India witnessed the emergence of early banking systems known as “Shroffs” or “Seths.” These banking houses served as financial institutions, providing loans for both domestic and foreign trade.
Network of Credit: Merchants and moneylenders formed vast networks of credit to support foreign trade. They built relationships and trust through personal connections and established creditworthiness among traders.
Knowledge of Local Trade: Moneylenders possessed a deep understanding of local and international trade patterns, ensuring they could assess the risk and potential profitability of loaning to foreign trade ventures.

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To present the information in a more organized manner, here is a table showcasing different aspects of loans for foreign trade in ancient India:

Aspect	Details
Parties Involved	Merchants and moneylenders
Loan Structures	Interest-based, interest-free, repayment schedules
Collateral	May or may not require collateral
Banking Systems	Shroffs (Seths) served as early banking institutions
Credit Networks	Vast networks established to support foreign trade
Knowledge	Moneylenders possessed deep understanding of trade patterns

In conclusion, the provision of loans for foreign trade in ancient India was primarily undertaken by merchants and moneylenders. Their financial assistance and credit played a crucial role in supporting international commerce, making them key figures in the economic growth and prosperity of the ancient Indian civilization.

Remember, as experts, it is imperative to rely on our practical knowledge and experience to provide accurate and detailed information to enrich the understanding of the topic at hand.

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Government

The correct answer to the question- "Who provide loans for foreign trade in Ancient India "is – Government Explanation: The government offered loans for overseas trade.In the ancient times, there were allusions to these money lending practices.Interest on loans were put which was namely vardhusa, vridhi, and vyaja.

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Who started loan system in India?

In reply to that: During the Mauryan age, Kautilya’s texts are the firsts to mention the existence of a systematised lending structure – these scriptures mention RNapatra, RNapanna, or RNalekhaya – different forms of loan deeds – that were prevalent and acceptable during the Mauryan empire (321 – 185 BCE).

When did loan system start in India?

During the 2nd century CE, the basic idea of money lending gained a foothold in India. People considered it a legitimate method of amassing wealth. It became more structured in the Mauryan era. You will be surprised to know that there were well-defined loan deeds back in the Mauryan Empire.

What was the foreign trade route in ancient India?

Response to this: The Uttarapath (northern land routes) and Dakshinapath (southern land routes) together constituting “ the Grand route of India,” became the arterial trade routes, along with their feeder channels, for silk trade especially during Kushana period (3 0 CE- 375 CE) which connected China, south east Asia, central Asia and

How did trade work in ancient India?

During the ancient times, India was the leading exporter of silk, cotton, sugar, precious stones. India was also the exporter of spices to the west and this was done through the spice route. All these items were exported in exchange for gold and silver from other nations.

Do foreign banks give all types of loans in India?

Response: Quora Answer (1 of 4): generally foreign banks give all types of loans at par with commercial banks and other private banks in india that includes all retail for business . but people prefer credit from the foreign banks only for the specified casesif you are dealing with export and import tradesd…

Can a resident Indian pay for imports in foreign currency?

Response will be: A resident Indian may pay for the import of goods in foreign currency with an international credit card or debit card issued through the servicing bank in India against the charge slip signed by the importer (assuming the transaction conforms to the foreign trade policy in force).

What are import financing procedures in India?

It covers payment methods and information on, banking systems, foreign exchange controls, and U.S. and correspondent banking. Import financing procedures in India adhere to Western business practices. The safest method of receiving payments from Indian importers is through an irrevocable letter of credit (L/C).

How does India's foreign trade policy affect importers?

The answer is: Indian importers have access to trade credits extended by overseas suppliers, banks, financial institutions, and other lenders recognized in this framework. Importers can choose between local currency or foreign currency for importation of capital goods and non-capital goods allowed under India’s foreign trade policy.

Your question – who provide loan for foreign trade in ancient India?

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