Question

why we choose project money and credit

Answer 1

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Function of Money. Basically, the use of money, in any form is to make and receive payments in return for goods or services. Traditionally RBI issues thecurrency notes which can be used to make monetary transactions. But of late, several new modes of payment have also entered the market.

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Answer 2

the products of the financial system, are important parts of our economy.

The financial system enables ‘real’ activity – that is, the processes of production and trade of goods and services – to take place smoothly.

Financial activity is thus part and parcel of economic growth and improvement in overall living standards.1

Money itself is not a modern innovation. Records of money date back 5,000 years to the Babylonians, who distinguished legally between ‘exchangeable goods’ and ‘non-exchangeable goods’. Exchangeable goods included precious metals as well as certain commonly used goods such as oil and wine. It is likely that these exchangeable goods were used as means of exchange. The origins of money probably go back even further than this – beyond written history, with the use of cattle around 10,000 years ago.

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