Consider the following statements regarding the corporate socio-economic architecture of urban centers during the Mahajanapadas era:
1. Specialized artisans and merchant groups organized themselves into autonomous bodies called Shrenis, which formulated their own customary laws that the sovereign monarch was legally bound to respect.
2. The executive head of a prominent merchant guild, designated as the Sresthin, held immense political influence and maintained a direct advisory line to the royal treasury.
Which of the statements given above is/are correct?

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Accepted Answer

Both statements outline the advanced commercial autonomy of the era. Shrenis operated as early corporate entities, controlling production quality, training apprentices, and establishing courts to settle internal civil issues. The laws of the guilds (Shrenidharma) were integrated into state legal frameworks, and prominent guild chiefs or Sresthins financed royal campaigns, commanding high status at court.

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