Bachelor of Management Studies (B.M.S.) Indigenous Banking and Wealth Management Syllabus - Mumbai University
This is the TY BMS syllabus under NEP 2020, in force from the academic year 2026-27, examined under form 2225161. The University still sets the earlier Choice Based papers alongside it — forms 2M00155 and 2M00156, whose documents are below — so check which scheme your exam form names before you revise.
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Syllabus for Indigenous Banking and Wealth Management
Module I: Foundations & Mechanisms of Indigenous Finance
- Introduction to Indigenous Banking: Definitions and features; evolution of community-based guilds (Multanis, Marwaris, and Pathans).
- The Anatomy of a Hundi: Operational Mechanics: Darshani (Demand) vs. Muddati (Usance) Hundis, Discounting methods, brokerage, and "Ant" (local credit currency).
- Core Operational Functions: Remittance and Inland Trade Financing, Information Irregularity & Private Postal Networks (The 18th-century "Bloomberg" terminal).
- The Concept of 'Pat' (Financial Honor): Creditworthiness without formal credit scores; transition from agricultural surplus to liquid merchant capital.
Module II: Strategic Wealth Management & Modern Integration
- The 'Jagat Seth' Model (Case Study): The "Banker of the World" strategy, Managing state mints and tax revenue, State-Banker Interdependence, and imperial finance under Mughals/British.
- Portfolio Diversification & Risk Hedging: Moving beyond bullion: Investments in shipping, textiles, and Zamindari rights and hedging political risks via regional alliances (Marathas, Nawabs, Mysore).
- Evolution to Modern Wealth Management: From Shroffs to HNI (High Net Worth Individual) Services, Comparing ancient Gumashtas to modern Relationship Managers.
- The Modern Interface & Ethics: IKS (Indian Knowledge Systems) integration in modern finance, Ethical frameworks in wealth preservation: A comparison of 18th-century "Dharma" in business vs. modern ESG/RBI guidelines.
Reference Books
- Dash, R. K., Sadek Shibli, M. J., & Saha, M. (2024). Breaking the chain: Strategies against hundi and money laundering in Bangladesh. International Journal of Humanities & Social Science Studies, 10(4), 256–270.
- Leonard, K. B. (1979). The ‘Great Firm’ theory of the decline of the Mughal Empire. Comparative Studies in Society and History, 21(2), 151–167.
- Shahnawaz, M. (2021). Huṇḍī and Nirakh Huṇḍāwan: Indic mercantile instruments in the Persianate bazaar. Journal of the Economic and Social History of the Orient, 64(5- 6), 660–692.
- Singh, C., & Naik, G. (2018). Financial inclusion after PMJDY: A case study of Gubbi Taluk, Tumkur. SSRN Electronic Journal.
- Adukia, R. S. (n.d.). An overview of banking sector in India. CAAA.
- Bhanu Murthy, K. V., & Tatu Deb, A. (2008). Concept of deregulation: Lessons from banking history in India. IGIDR.
- University of Pretoria. (n.d.). Project codification: Legal legacies of the British Raj on the Indian mercantile credit institution hundi.
Reproduced from the University of Mumbai syllabus for Bachelor of Management Studies (B.M.S.) under NEP 2020, in force from the academic year 2026-27. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.