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.
The Pala ruler ‘Devapala’ was succeeded by Vigrahapala. Vigrahapala ruled for about 3 or 4 years after that, he abdicated his throne and began to live the life of an ascetic.
The third Sangam was held at the present Madurai in Tamil Nadu. The third sangam had 449 poets and the important ones among them include Nakkirar, Iraiyanar, Kapilar, Paranar, Sattanar, Auvikyar etc.
EXAMIANS