Question

HCISES
Explain
an example of your own.
need money?
5. Why do we need to expand formal sources of credit in India?
In situations with high risks, credit might create further problems for the borrower.
How does money solve the problem of double coincidence of wants? Explain with
3. How do banks mediate between those who have surplus money and those who
6. What is the basic idea behind the SHGs for the poor? Explain in your own words.
7. What are the reasons why the banks might not be willing to lend to certain borrowers?
4. Look at a 10 rupee note. What is written on top? Can you explain this statement?​

Answer 1

Answer:

On the top of a 10 Rupee note “Reserve Bank of India, Guaranteed by the Central Government is written.” It implies that the notes are issued by Reserve Bank of India on behalf of the Central Government.

It is a promissory note and can only be issued by the Reserve Bank of India which supervises all money-related functions in the formal sector, in India.

:::;;; extra info ;;;:::

There are images of three animals on a 10 rupee note of Indian currency which is namely, a tiger, an elephant, and a rhinoceros.

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