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Promissory note in India
Answer for the clue "Promissory note in India ", 5 letters:
hundi
Word definitions for hundi in dictionaries
Wikipedia
Word definitions in Wikipedia
A hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions. Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money ...
Wiktionary
Word definitions in Wiktionary
n. hawala (informal system of money transfer from India and the Middle East)
Usage examples of hundi.
The Hundi banking system, an underground, off-the-books network of money changers in the bazaar, handles more capital than the official banks, and is a convenient means for laundering drug profits.