<P> In ancient India there are evidences of loans from the Vedic period ( beginning 1750 BC ) . Later during the Maurya dynasty ( 321 to 185 BC ) , an instrument called adesha was in use , which was an order on a banker desiring him to pay the money of the note to a third person , which corresponds to the definition of a bill of exchange as we understand it today . During the Buddhist period , there was considerable use of these instruments . Merchants in large towns gave letters of credit to one another . </P>
<P> In ancient India there are evidences of loans from the Vedic period ( beginning 1750 BC ) . Later during the Maurya dynasty ( 321 to 185 BC ) , an instrument called adesha was in use , which was an order on a banker desiring him to pay the money of the note to a third person , which corresponds to the definition of a bill of exchange as we understand it today . During the Buddhist period , there was considerable use of these instruments . Merchants in large towns gave letters of credit to one another . </P>
the earlier evidence of banking transaction in india comes from
the earlier evidence of banking transaction in india comes from
the Vedic period ( beginning 1750 BC )
the Vedic period ( beginning 1750 BC )