It is a presentation on modern forms of money that are widely used in today's era.

1. Economics project
By : Nicky Jha

2. MODERN FORMS OF MONEY

3. INTRODUCTION
In recent years we have
seen a dramatic transformation in
the way in which people in this
country use money. The textbooks
tell us that money is 'anything that
is generally acceptable as a means
of exchange'. For hundreds of years
people thought of money as coins,
and then notes and coins with the
development of bank notes. During
the twentieth century cheques
became widely used as a means of
payment and later plastic money in
the form of credit and debit cards.

4. MODERN FORMS OF MONEY AT A GLANCE

5. CREDIT CARD
A credit card is a card which allows
people to buy items without cash. When
they buy something, a sales clerk uses
it to charge the money needed to
their bank account, so the person will
pay later. They are buying it on credit,
which is the trust that they will pay it
back later.
If a person does not pay within a
limit (usually a month) they will have to
pay extra money, called interest.

6. Uses and advantages
• A credit card is used widely now a days
instead of cash and it saves time and trouble
of users , since they don’t have look up for an
ATM to use it.
• Credit cards provides instant cash and Cash
advances are quick and convenient, putting
cash in your hand when you need it.

7. DEBIT CARD
A debit card (also known as a bank
card or check card) is
a plastic payment card that provides
the cardholder electronic access to his
or her bank account(s) at a financial
institution. Some cards may bear
a stored value with which a payment is
made, while most relay a message to
the cardholder's bank to withdraw
funds from a payer's designated bank
account. The card, where accepted,
can be used instead of cash when
making purchases.

8. Uses & Advantages of debit cards
• Debit cards let you buy things without carrying cash.
You can use your debit card in most stores to pay for
something. You just swipe the card and enter your
PIN number on a key pad.
• Debit cards take money out of your checking account
immediately.
• Debit cards let you get cash quickly. You can use
your debit card at an automated teller machine, or
ATM, to get money from your checking account. You
also can get cash back when you use a debit card to
buy something at a store.

9. CHEQUE
A cheque is a document that orders a
bank to pay money from an account. The
person writing the cheque, the drawer, has
a transaction banking account where their
money is held. The drawer writes the various
details including the monetary amount, date,
and a payee on the cheque, and signs it,
ordering their bank, known as the drawee , to
pay that person or company the amount of
money stated.

10. • Cheques are widely used from past hundred
years.
• Cheques are a type of bill of exchange and
were developed as a way to make payments
without the need to carry large amounts of
money.
• Cheques are also a convenient way of
payment , since whenever a user wishes to
make a payment he can write a check .
However , now a days as credit
cards and debit cards are mostly preferred
and so there is a declining use of a cheque .

11. A cheque from 1809 A cheque from 1905
A cheque from 1933 A cheque from 2006

12. DEMAND DRAFT

13. DEMAND DRAFT
• A demand draft, also known as a remotely
created check, a tele-check, or check by
phone, check by fax or e-check, is
a cheque created by a merchant with a
buyer's checking account number on it, but
without the buyer's original signature.

14. Uses
• Demand drafts are frequently used to purchase items
over the phone, from telemarketers. The checks also
allow consumers to pay monthly bills by having them
debited automatically out of their accounts, rather
than having to write a new check each month.
• Demand drafts are frequently used by consumers
instead of credit cards, and large companies also
commonly use them.
• Demand drafts are also a popular method for lending
institutions to attempt to collect on overdue loans.

15. WIRE TRANSFER

16. ONLINE BANKING
Online banking is an electronic
payment system that enables
customers of a financial
institution to conduct financial
transactions on a website
operated by the institution, such
as a retail bank, virtual bank,
credit union or building society.
Online banking is also referred
as Internet banking, e-banking,
virtual banking and by
other terms.

17. ONLINE TRANSFER
• Online money transfer through
online banking is now a
convenient , affordable and
faster way of transferring
money.
• Different banks across India
offer online transfer services.
• Now a user can send money
within seconds through this
online money transfer.

18. Other systems of banking
• Now a days along with the online
banking other banking options
which are more convenient, easier
and faster are available to the
users.
• These include SMS banking,
telephone banking and mobile
banking.
• Users get a new experience of
banking which is very easier
than ever before.

19. conclusion
• Today most of the people use credit cards , debit
cards , cheques, etc.
• The use of online banking services have also become
common.
• Today cash machines, or ATMs, are the most popular
method of withdrawing cash for most personal
customers.
• Therefore over time money has been available to us
in different forms and each form is convenient than
other.
• And with time we will find more new forms of money
which will open up new possibilities of experiences
dealing with money.