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.
In the Indus Valley Civilization, the remains of Horse bones have been found from Surkotada site. The site at Surkotada is located 160 km north- east of Bhuj, in the district of Kutch, Gujarat.
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