Merchants often had strong community or kin ties and were organized into their own caste-cum-occupational bodies. In western India, these groups were called as:

Mahajans

The correct answer is Option (3) → Mahajans

Merchants often had strong community or kin ties, and were organised into their own caste-cum occupational bodies. In western India these groups were called mahajans, and their chief, the sheth. In urban centres such as Ahmedabad the mahajans were collectively represented by the chief of the merchant community who was called the nagarsheth