Money is something that is generally accepted as a medium of exchange. It is an instrument that serves as a medium of exchange, a measure of value, a store of value and a standard for deferred payments. The evolution of money has passed through various stages with time, place, and circumstances. Evolution of Money Commodity Money: […]
Money is something that is generally accepted as a medium of exchange. It is an instrument that serves as a medium of exchange, a measure of value, a store of value and a standard for deferred payments. When an economy develops, there is an abnormal increase in economic transactions. Because money is generally acceptable, it is
Money is something that is generally accepted as a medium of exchange. It is an instrument that serves as a medium of exchange, a measure of value, a store of value and a standard for deferred payments. When an economy develops, there is an abnormal increase in economic transactions. Because money is generally acceptable, it
Money is a tool that can be used as a medium of exchange, a measure of value, a store of value and a standard for deferred payments. Primary, Secondary and Contingent Functions of Money are discussed below. Functions of Money Primary Functions of Money Secondary Functions of Money Contingent Functions of Money
On 1st April 1935, the Reserve Bank of India (RBI) was established according to the RBI Act, of 1934. This bank was established as a joint stock bank with a share capital of Rs 5 crore. In this post, you will find the top 6 important functions of the Reserve Bank of India. On 1st January 1949,
A Central Bank is the apex bank which controls the entire banking system of a country. It has the sole authority to issue notes in that country. It also acts as a banker to the government and controls the supply of money in the country. A commercial bank is a financial institution that provides services
Differences between the Central Bank and Commercial Bank Read More »
The elasticity of demand measures the responsiveness of the quantity demanded of a good to a change in its price, price of other goods, and changes in the consumer’s income. After going through this lesson, you will be able to understand the main factors affecting the Elasticity of Demand. Alfred Marshall was the first economist
A commercial bank is a financial institution that provides services such as accepting deposits, giving business loans, mortgage lending, and basic investment products such as savings accounts and certificates of deposit. Classification of Commercial Bank in India Commercial banks in India are classified on the basis of two aspects. They are Classification of Commercial Bank
After going through this post, you will be able to understand arguments in favour and against the Nationalization of Banks. Arguments in Favour of Nationalization of Banks Branch expansion: To balance the banking system, nationalized banks set an objective to initiate branch expansion programmes. The number of bank branches was about 8260 in 1969 and it
A commercial bank is a financial institution that provides services such as accepting deposits, giving business loans, mortgage lending, and basic investment products such as savings accounts and certificates of deposit. The commercial bank is also called a joint-stock bank because it is organized on the lines of joint-stock companies. Features of commercial banks are