Money and Credit

Objectives

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- To know about the Barter system - To understand about money and various transaction of money - To know about the role of RBI - To understand about the various types of credits and benificiaries

Recap

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- Barter system flourished where civilizations thrived. - Gold, silver and copper were called ancient money. - Pepper and spices took a major share of exports. - Paper money was introduced because metal supply was limited. - Mobile banking is widely used nowadays. - A government has the responsibility to regulate the money supply and oversea circulation. - All the major and important banks are nationalised in India. - There is a close relationship between money and price.