Finance Banking

What are the functions of a Shroff?

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What are the functions of a Shroff?

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A shroff is a person who traditionally worked as a money changer or a cashier in South Asia and Southeast Asia.

Functions of a Shroff:
  • Money Changing:
    Exchanging currency from one form to another was a primary function.
  • Authentication of Money:
    Determining the genuineness of coins and currency notes was crucial to prevent fraud.
  • Valuation of Money:
    Assessing the value of different currencies and precious metals was important for trade and financial transactions.
  • Cash Handling:
    Managing and disbursing cash for various transactions was a key responsibility.
  • Banking Support:
    Acting as cashiers or providing other financial services within a banking context was also common.
Wrote answer · 3/14/2025
Karma · 40

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