With reference to the guilds (Shreni) of ancient India that played a very important role in the country's economy, which of the following statements is /are correct?
- Every guild was registered with the central authority of the State and the king was the chief administrative authority on them.
- The wages, rules of work, standards and prices were fixed by the guild.
- The guild had judicial powers over its own members.
Select the correct answer using the codes given below:
- 3 only
- 2 and 3 only
- 1 and 2 only
- 1, 2 and 3
Shreni was an association of traders, merchants, and artisans. Generally, a separate shreni existed for a particular group of persons engaged in the same vocation or activity.
The correct option is D.