In medieval India, the term "Fanam" referred to:

Answer: B. In medieval India, FANAM referred to COINS. FANAM (also spelled fanum, panam, panaam in Tamil) was a small gold or silver COIN widely circulated in SOUTH INDIA between the 9th and 19th centuries. Originally minted by the Chola, Pandya and Vijayanagara kingdoms, later by the Mysore Wodeyars, Nayaks of Tanjore and Madurai, and the European trading companies. Fanams were small but valuable units, used for daily transactions. Various denominations existed: chuckram (in Travancore), kasu (smaller copper denomination), and they were sub-multiples of larger coins like the pagoda or hun. Distractors: (A) Clothing — fanams have no relation to garments. (C) Ornaments — different terms used for jewellery. (D) Weapons — separate terminology in medieval South Indian armies. The British East India Company also minted fanams. The 17th-18th century Madras presidency used fanams alongside pagodas and rupees in trade. Source: NCERT Class 7 Our Past II / numismatic studies of South India.