Earliest evidence of Banking in India is found from the period of Vedic Civilization. During those days, loan deeds called rnapatra (ऋणपत्र) or rnalekhya (ऋणलेख्य) were prevalent. Interest rates as well as usury (सूदखोरी) was prevalent in Vedic India. The Vedic word Kusidin refers to an usurer (सूदखोर).This term is also found in Manusmriti.
Fa-hein, the first Chinese Buddhist traveller and monk, came to India during the reign of Gupta emperor Chandragupta II and wrote the book “Si- Yu-Ki” that gives the detail account of the political and social condition of that time.
EXAMIANS