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banking terms

  ✍️ CRR Cash Reserve Ratio is the minimum fraction of total deposits of a bank’s customers that banks have to hold as reserves with the central bank. ✍️ SLR Statutory Liquidity Ratio is the ratio of liquid assets to the net demand and time liabilities. ✍️ LAF Liquid Adjustment Facility is a tool to allow banks to borrow money through repurchase agreements. It consists of repo and reverse repo operations. ✍️ MSF Marginal Standing Facility allows scheduled banks to borrow funds overnight from RBI against approved government securities. ✍️ MSS Market Stabilization Scheme is a monetary policy intervention by RBI to withdraw excess liquidity by selling government securities in the economy. ✍️ OMO Open Market Operations refers to the buying and selling of government securities in the open market so as to expand or contract the amount of money in the banking system. ✍️ REPO Repo...

Northern India – Age of three empires (8th to 10thCentury)

In this article, we have explained Northern India of 8th - 10th century. Many questions are asked about Palas, Pratiharas, and Rashtrakutas in SSC Exams

Northern India – Age of three empires (8th to 10thCentury)

The struggle for domination – the Palas, the Pratiharas and the Rashtrakutas – tripartite struggle

There was a common struggle between these kingdoms over the control of Kannauj which enabled them to control the fertile upper Gangetic plains

The Palas

They dominated Eastern India.

Founded by Gopala in 750 AD and succeeded by Dharam Pala. The Pala rulers were defeated by the Prathiharas and Rashtrakutas in the North.

They were patrons of Buddhism. Dharampala revived the Nalanda University by setting aside 200 villages for its expenses. He also founded Vikramashila University and built many Viharas for Buddhist monks

They had trade contacts and cultural links with South-East Asia. Sailendra dynasty sent many ambassadors and asked permission to build a monastery near Nalanda

The Pratiharas

They dominated Western India and Upper Gangetic valley

The real founder and major ruler was Bhoja with title Adivaraha

Al-Masudi, a Baghdad traveler, visited India during the times of Pratiharas in 915-16 AD

Rajashekar, a great Sanskrit poet, and dramatist lived at the court of Mahipala

The attacks by Rashtrakuta rulers, Indra III and Krishna III led to faster dissolution of the empire

The Rashtrakutas

They dominated Deccan and certain territories in North and South India. Kingdom was founded by Dandi Durga with capital at Malkhed

Amogavarsha was a great king. He was credited with writing the first poetics book in Kannada. He also built the Capital city, Manyakhet.

They were in constant contest with the Pallavas, the Cholas and the Chalukyas in the South

Krishna I built the rock-cut temple of Shiva at Ellora

They had a tolerant religious policy which favored their foreign trade

Political ideas and Organizations

The king was the center of administration and his position became hereditary

Royal household = Antahpur

Administration in Palas and Pratiharas
Bhukti – Province under Uparika

Mandala or Visaya – district under Visayapati

Group of Villages – Samanthas or Bhogapatis.

Pattala – smaller unit

Administration in the Rashtrakutas
Rashtra – Province under Rashtrapati

Visaya – district

Bhukti – smaller unit

Grama-Mahajana – Village elder

Kotwal – responsibility to maintain law and order

Nad-Gavundas/Desa-gramakutas – hereditary revenue officers in Deccan

The Chola Empire

The Chola empire, which arose in the 9th century, brought a large part of Peninsula under their control. With a strong Navy, they conquered Sri Lanka, Maldives and had a strong foreign trade.

The empire was founded by Vijaylala, a feudatory of Pallavas, in 850 AD.

Rajaraja (985-1014) and Rajendra I (1014-1044) were the greatest Chola kings. They followed a policy of annexation which included annexing Sri Lanka, Maldives, Pandyas and Cheras to control the prosperous trade with South-East Asian countries

Rajarajeshwara temple was built in 1010 at Tanjore.

Rajendra I assumed the title Gangaikondachola (the Chola conqueror of Ganga) and instituted a new capital at the banks of Kaveri called “Gangaikondacholapuram”

Rajendra I also undertook a naval expedition against revived Sri Vijaya Empire of Indo-China

The ruler of Sailendra dynasty had built a Buddhist monastery at Nagapattinam.

The strong navy of Chola led to conversion of Bay of Bengal into “Chola lake”

The Cholas encouraged Local Self-Government in the villages under their administration

Chola Government

The King administered his territories with advice from his Council of Ministers

Chola administration
Mandalams – Provinces

Valanadu – minor provinces

Nadu – district

Kurram – a group of villages

Infrastructure: Royal roads were built, irrigation projects were undertaken

Village assemblies: the Ur – general assembly of the village; the Mahasabha – gathering of adult men in Brahmana villages which were called Agraharas

Cultural life

They were great builders of Cities (Tanjore, Gangaikondacholapuram), large palaces, banquet halls, spacious gardens, and terraces etc.

Dravida style of temple architecture attained its climax. The temple had become so elaborate like a mini city and enjoyed revenue-free grants of lands for its expenses

Kailashnath temple in Kanchi, Brihadeswara temple in Tanjore are examples of Dravidian architecture

After the fall of Cholas, the Hoysalas continued the tradition with building temples in Halebid (Hoysaleshwara temple), an example of Chalukyan architecture.

Sculpture art attained its heights with Gomateshwar statue in Sharvana Belagola and Bronze Nataraja statue

Along with Sanskrit literature, the local language literature also grew in this region

Bhakti movement started with Alvars and Nayanars flourished in 6th to 9th Their writings “Tirumurai” is seen as Fifth Veda. Kamban’s Ramayan is also considered as a classic in Tamil literature.

Pampa, Ponna, and Ranna are regarded as the three gems of Kannada Poetry

Thus, this period had a flourishing trade and commerce, great temple building activities and promising literary works.

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