The Colas c30.15

c30.15

The ‘I.O.U.’ as an instrument of borrowing was apparently in common use. It is mentioned quite casually in an inscription from Tiruvāḍutuṟai of the reign of Rājarāja I.³⁶ The *sabhā* of that place owed some money to a Kaikkōḷa which they had borrowed from him on a promissory note (*kaiyeḻuttōlai*). For some reasons not recorded, the entire property of the Kaikkōḷan became *rājasvam*, that is, it was confiscated by the king who naturally sought thereupon to realise the money due from the *sabhā*. These facts are recorded in explanation of the assignment to the temple of some of the village lands in lieu of the money then borrowed by the *sabhā* for paying off the king. Another instance of borrowing on a promissory note is the loan of 100 *kāśus* from a temple in Puñjai to the *mūla-paruḍai* of Talaiccangāḍu mentioned in an inscription of the reign of Rājēndra I.³⁷