Which of the following statements about the Marwaris are correct?
(A) Many Marwari families accumulated enough wealth to become moneylenders.
(B) They became a successful business community only after Independence.
(C) Their success rested on extensive social networks creating relations of trust.
(D) Having emerged under colonialism, they continued to hold economic power after Independence.
(E) They helped the French expand commerce in India by acting as bankers.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → A, C and D only
(A) Many Marwari families accumulated enough wealth to become moneylenders. — Correct. Many Marwari families built up enough wealth to work as moneylenders. Lending money and acting as bankers became a main part of their business.
(B) They became a successful business community only after Independence. — Incorrect. Their success as a business community came during the colonial period. They used new openings in colonial cities such as Calcutta, long before Independence.
(C) Their success rested on extensive social networks creating relations of trust. — Correct. Like the Nakarattars, the Marwaris relied on wide social networks. These networks built the trust their banking system needed.
(D) Having emerged under colonialism, they continued to hold economic power after Independence. — Correct. The Marwaris are the leading example of a community that rose under colonialism and kept its economic power after Independence. Some families became modern industrialists, and today they control more of Indian industry than any other community.
(E) They helped the French expand commerce in India by acting as bankers. — Incorrect. By acting as bankers, the Marwaris helped the commercial expansion of the British in India. The statement names the wrong colonial power.
NCERT (2026-27): “Colonialism and the Emergence of New Markets … “A good example of this process is provided by the Marwaris, probably the most widespread and best-known business community in India. Represented by leading industrial families such as the Birlas, the community also includes shopkeepers and small traders in the bazaars of towns throughout the country. The Marwaris became a successful business community only during the colonial period, when they took advantage of new opportunities in colonial cities such as Calcutta and settled throughout the country to carry out trade and moneylending. Like the Nakarattars, the success of the Marwaris rested on their extensive social networks, which created the relations of trust necessary to operate their banking system. Many Marwari families accumulated enough wealth to become moneylenders, and by acting as bankers also helped the commercial expansion of the British in India (Hardgrove 2004). In the late colonial period and after Independence, some Marwari families transformed themselves into modern industrialists, and even today Marwaris control more of India’s industry than any other community. …” |