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Social science project money and credit

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Money & credit

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Social science project money and credit

  1. 1. MONEY AND CREDIT MADE BY – ROHAN & VISHESH CLASS – X ‘A’ ROLL NO – 18 & 50
  2. 2. DEFINATIONS  Money: It means anything chosen by a common consent as a medium of exchange.  Credit: It refers to the activity of borrowing and lending money between two parties.  Barter System: The system by which one commodity is exchanged for another without use of money.  Collateral: It is an asset that the borrower owns (such as land , building, vehicles, livestock, deposits with bank) and uses this as a guarantee to a lender until the loan is repaid.
  3. 3.  Landlords: They are the people who own farm land in villages on which poor farmers cultivate the crops.  Chit Fund: It is the process where money is collected from specified number of persons under an agreement for specified number of years & repaid after the expiry of agreement.  Credit Money: The money whose money value is greater than the commodity value of the material from which the money is made is known as credit money.
  4. 4.  Landlords: They are the people who own farm land in villages on which poor farmers cultivate the crops.  Chit Fund: It is the process where money is collected from specified number of persons under an agreement for specified number of years & repaid after the expiry of agreement.  Credit Money: The money whose money value is greater than the commodity value of the material from which the money is made is known as credit money.
  5. 5. BANKING  Bank: An institution which accepts deposits from public for the purpose of lending & investment.  Banking: The activity of deposit, withdrawal of money and other related monetary activities.  Cheque: It is an unconditional written instructions made by the account holder to the bank to pay the specified amount to the drawer of the cheque or to any other person as per instruction.  Saving: It is the part of the income which is over & above the consumption requirements.
  6. 6.  Debit Card: The card issued to the bank account holders against their bank balance to facilitate & simplified the payment, withdrawal & transfer of money anytime, anywhere through the computer is known as debit card.  Credit Card: The card issued to selected customers to unable them to make payment of credit bills up to the specified limit any time anywhere through computer is known as credit card.  Bank Rate: The rate at which the central bank lends funds as the “lend of last resort” to a commercial bank against approved securities or eligible bills of exchange is known as bank rate.
  7. 7.  Automated Teller Machines (ATMs): It is a free standing self-service terminal performing 6O% of tellers job quickly & at lesser cost.  Crossing of the Cheque: Drawing two parallel lines on the left side on the top of a cheque is called crossing of the cheque.  Cash Reserve Ratio (CRR): It is a minimum cash which a commercial bank needs to keep with itself as per the regulation the RBI.
  8. 8. INDIAN BANK  Reserve Bank of India (RBI): It is the central of India which controls the monetary policy of the economy. It was established on 1st April 1935 as a share holder bank.  Indian Monetary System: The system of managing demand & supply of money by the Reserve Bank of India (RBI) is known as Indian Monetary System.  Formal Institutions: They are the institutions which are regulated by rules & regulations laid down by the government/RBI.
  9. 9.  Informal Institutions: These institutions are self managed & they are out of the reach of RBI regulation due to their un-organized structure & way of working.  Private Finance Companies: These are the private own finance companies which extends loans to a particular class of borrowers like government employees, multinational companies employee etc.
  10. 10. SELF-HELP GROUPS  Self-Help Groups basically save money of his own member can take loan from itself to meet their needs. The group charge very nominal interest rate of these loans. It saving regular, group becomes eligible to avail loan from the bank & loan is sanctioned in the name of group & is meant to create self-employment opportunities for the members.
  11. 11. Why might banks be unwilling to lend to small farmers? Banks might not be willing to lend some farmers because they don’t have collateral as security to deposit in the bank. Some farmers are not in the position of paying loan. Some farmers are already caught in the hand of the debt, so the bank don’t want to gave them further loan.
  12. 12. How does the use of money make it easier to exchange things? Money provides better exchange facilities to eliminate the problem of barter system. In case of barter system there was the problem of double coincides of wants. For example- it is no longer necessary to the shoe manufacturer to look for a farmer. For exchange of goods with each other. All he has to do is to find a buyer for his shoe. After selling the shoes in the market he can buy the wheat &other items. Therefore, money act as an intermediate in the exchange process.
  13. 13. THANK YOU!!!

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