Guilds

The communities of merchants were organised in groups known as Shreni or guilds under the head called sreshthi. Another type of mercantile group was called sartha which signified mobile or caravan trading corporation of inter-regional traders.

The leader of such a guild was called sarthavaha. Like merchants almost all craft vocations were also organised into guilds, each under a headman called Jyestha. These included weavers, corn dealers, bamboo workers, oil manufacturers, potters, etc.

The guilds were basically associations of merchants and craftsmen following the same profession or dealing in the same commodity. They elected their head and framed their own rules regarding prices and quality, etc., to regulate their business on the basis of mutual goodwill. They also served as banks and received deposits from the public on a fixed rate of interest.