Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). **Assertion (A):** Post-Mauryan guilds (Shrenis) functioned as highly reliable banking institutions that accepted permanent endowments (Akshayanivi) from both the public and royalty. **Reason (R):** The Nasik cave inscription of Ushavadata records a permanent endowment of money deposited with the guilds of weavers to provide robes and food for Buddhist monks. In the context of the above statements, which of the following is correct?

Options:

  • A: Both A and R are true and R is the correct explanation of A.
  • B: Both A and R are true but R is not the correct explanation of A.
  • C: A is true but R is false.
  • D: A is false but R is true.

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