Class 10 MONEY AND CREDIT FULL CHAPTER | Class 10 Economics @Sociallyshubham #sst #socialscience
Shubham Pathak・2 minutes read
The text discusses the significance of money as a medium of exchange, the government's role in authorizing currency, and the impact of credit on individuals like Salim and Swapna. Self-help groups and institutions like Grameen Bank provide alternative financial solutions for marginalized individuals, showcasing successful models of financial inclusion and empowerment.
Insights
- Money serves as a crucial medium of exchange, simplifying transactions and eliminating the need for direct barter, while also being a legal tender issued only by the government, emphasizing its role in everyday economic activities.
- The formal banking sector, regulated by institutions like the Reserve Bank of India, plays a vital role in providing loans, ensuring stability, and preventing exploitative practices, while initiatives like Self Help Groups and Grameen Bank offer marginalized individuals, especially women, access to financial services and empowerment through collective decision-making and microfinance.
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Recent questions
What is the role of money in transactions?
Money simplifies exchanges for goods and services.
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