Category: 3. Money and Banking

What is Central Bank? An apex body that controls, operates, regulates, and directs a country’s banking and monetary structure is known as a Central Bank. As the functions of a central bank are peculiar, there is only one central bank in a country. Every financially developed country has its own central bank. For example, the central bank of the…

Money is a concept that is much easier to understand than to explain in the form of words. However, it can be described as an instrument or thing that is generally accepted as a mode of payment or as a Medium of Exchange in the economy, like a Rupee in India, a Dollar in the USA, or a Yen…

Money is a concept that is much easier to understand than to explain in the form of words. However, it can be described as an instrument or thing that is generally accepted as a mode of payment or as a Medium of Exchange in the economy, like a Rupee in India, a Dollar in the USA, or a Yen…

What are Commercial Banks? A commercial bank is a financial institution that provides services like accepting deposits, granting loans, bank overdrafts, offering certificates of deposits, and savings accounts to individuals and businesses. Commercial banks are considered to be an important component of the banking system. These are the banks that perform banking services with the aim…

Money is anything that is generally accepted as a medium of exchange, a store of value, a measure of value, and a means for the standard of deferred payment. Money considers everything that can be used for an accomplishment of a business transaction and settlement of the business claims like currency notes, coins, cheques, etc.…

Money is any object or item which is generally accepted as a mode for payment of goods & services and repayment of loans or debts such as taxes, etc., in a particular nation or country. Money was invented to facilitate trade as the barter system was not able to express the value and prices of goods…

Money is any object or item which is generally accepted as a mode for payment of goods & services and repayment of loans or debts such as taxes, etc., in a particular nation or country. Money was invented to facilitate trade as the barter system was not able to express the value and prices of goods…

Money is any object or item which is generally accepted as a mode for payment of goods & services and repayment of loans or debts, such as taxes, etc., in a particular nation or country. Money was invented to facilitate trade as the barter system was not able to express the value and prices of goods…

Money is derived from the Latin word Moneta, which is another name for the Goddess Juno of Rome. The first mint was established in Rome in the temple of the Goddess Juno or Moneta. Money cannot be explained only in terms of the matter it embodies, such as metal or paper. It should be explained by the…

Money is anything that is generally accepted as a mode for payment of goods & services and repayment of loans & debts such as taxes, etc., in a particular nation or country. Money was invented to facilitate trade as the barter system, but it can not express the value and prices of goods & services. The…