Commercial Classes
Realm 84: The Sarrafs, The Hundis, and the Merchant Princes
WORLD L — MEDIEVAL SOCIETY
MICRO-REALM 01
Commercial Castes
- Monopolized regional commerce.
- Complex joint-family firms.
- High internal caste trust.
- Vast inter-regional networks.
MICRO-REALM 02
Banias & Khatris
- Dominated North/West India.
- Khatris controlled Punjab overland routes.
- Marwari Banias expanded everywhere.
- Controlled inland commodity flows.
MICRO-REALM 03
Bohras & Chettiars
- Coastal & Southern trade.
- Muslim Bohras in Gujarat ports.
- Chettiars in Coromandel.
- Wealthy maritime merchant princes.
MICRO-REALM 04
The Sarrafs
- Moneychangers and bankers.
- Assayed metallic purity of coins.
- Exchanged regional currencies.
- Crucial for state taxation.
MICRO-REALM 05
The Hundi System
- Medieval Bills of Exchange.
- Sophisticated paper credit.
- Eliminated bulk cash transport.
- Relied on impeccable reputation.
MICRO-REALM 06
Bima (Insurance)
- Covered transit risks (piracy/theft).
- Both overland and maritime.
- Premium rates varied by danger.
- Stimulated long-distance trade.
MICRO-REALM 07
Usury & Banking
%
- Financed nobles and royals.
- Complex interest rate structures.
- Provided capital for artisans.
- Often kept peasants in debt.
MICRO-REALM 08
Virji Vora
- Surat's richest merchant (17th C).
- "Richest man in the world".
- Financed East India Company.
- Massive global syndicate.
MICRO-REALM 09
The Jagat Seths
- "Bankers of the World".
- Controlled Bengal's imperial mint.
- Determined exchange rates.
- Later financed British conquest.
MICRO-REALM 10
The Banjaras
- Nomadic inland transporters.
- Massive bullock caravans (Tandas).
- Carried bulk grain and salt.
- Vital supply lines for Mughal armies.