Arthashastra 3.11.1 - Dharmasthiya, Adhyaya 11, Sutra 1

Kautilya

←Previous Sutra

Next Sutra→

Arthashastra 3.11.1: Dharmasthiya, Adhyaya 11, Sutra 1

Devanagari script

सपादपणा धर्म्या मासवृद्धिः पणशतस्य पञ्चपणा व्यावहारिकी दशपणा कान्तारगाणाम् विंशतिपणा सामुद्राणाम् ॥

Recitation with translationArthashastra 3.11.1

Transliteration

sapādapaṇā dharmyā māsavṛddhiḥ paṇaśatasya pañcapaṇā vyāvahārikī daśapaṇā kāntāragāṇām viṃśatipaṇā sāmudrāṇām

Translation

सूद का एक सिंपल रूल है। एक महीने में सौ पे एक पाणा चौथाई मिलेगा, यह शुद्ध है। नॉर्मल व्यापार में सौ पे पाँच पाणा लगेगा। जंगल या करवां के रास्ते में सौ पे दस पाणा। और समुंदर के सफर में सौ पे बीस पाणा।

Word by Word

सपादपणाone and a quarter pana (1.25 pana)

धर्म्याlawful, legally sanctioned

मासवृद्धिःmonthly interest (rate)

पणशतस्यof one hundred panas

पञ्चपणाfive panas

व्यावहारिकीcommercial / pertaining to ordinary transactions

दशपणाten panas

कान्तारगाणाम्of those travelling through wilderness routes (overland traders)

विंशतिपणाtwenty panas

सामुद्राणाम्of maritime (sea-going) traders

Entities Mentioned

borrower

lender

state courts

caravan traders

maritime traders

FAQs

What principle underlies the different interest rates across contexts?

Risk-adjusted regulation: higher uncertainty and hazard (wilderness, sea) justify higher permitted interest, while ordinary loans are capped lower.

Why would Kautilya codify interest ceilings?

To prevent usury, standardize adjudication, and keep credit flowing for trade without destabilizing households and revenues.

Ask anything about this verse

Answers come straight from the texts, with the shlokas they draw on. Ask in your own words.

Not sure where to start?

A free sign-in with Google or Apple keeps your chat saved across web and the app.

Read Arthashastra in the Vedapath app

Scan the QR code to open this directly in the app, with word-by-word meanings, Sanskrit recitation where available, and more.

Continue reading in the Vedapath app

Open in App