Money & Credit in Indian History: From Early Medieval Times

edited by Amiya Kumar Bagchi

First published in 2009


2012 (third edition)


9.5x 6.25 inches

viii+ 196 pages

ISBN: 978-93-82381-12-9

Rs 300

The papers presented in this volume arise out of the session on money, banking and finance, organized under the auspices of the Indian History Congress, Kolkata,2000.

In most historical periods in India, groups of people have been engaged in exchanges of their products, with money being extensively used as a medium of exchange. There is no point, however, trying to define who exactly were the bankers, or bankers and money-changers, or bankers, merchants and money-changers rolled into one, without specifying the context.

The essays in this volume specify the contexts in which apparently similar institutions of money and credit functioned in very different ways, and thus alert us to the infinite potential of human ingenuity. Further, they tell us something about the way the use of particular institutions has a perceptible influence on the evolution of the larger society.


Renowned economist and historian, Amiya Kumar Bagchi is Director of the Institute of Development Studies, Kolkata. He has also been Director of the Centre for Studies in Social Sciences, Kolkata, for several years. His numerous publications include Private Investment in India 1900–1939 (1972), The Political Economy of Underdevelopment (1982), Capital and Labour Redefined: India and the Third World (2002), and a four-volume history of India’s oldest and biggest commercial bank, State Bank of India.


“This tight little book,comprising a set of essays by some very well known historians . . . throw invaluable light on how money used to grease the wheels of commerce in the old days. In doing so, they tell us how little things have changed in the financial sector, except perhaps for volumes of financial flows.”
The Book Review