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MONEY AND CREDIT

Geo PPT

Credits: Akash AgrawalKushal Agrawal

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Money, in some form, has been part of human history for at least the last 3,000 years. Before that time, it is assumed that a system of bartering was likely used. Bartering is a direct trade of goods and services - I'll give you a stone axe if you help me kill a mammoth - but such arrangements take time. You have to find someone who thinks an axe is a fair trade for having to face the 12-foot tusks on a beast that doesn't take kindly to being hunted. If that didn't work, you would have to alter the deal until someone agreed to the terms. One of the great achievements of money was increasing the speed at which business, whether mammoth slaying or monument building, could be done.Slowly, a type of prehistoric currency involving easily traded goods like animal skins, salt and weapons developed over the centuries. These traded goods served as the medium of exchange even though the unit values were still negotiable. This system of barter and trade spread across the world, and it still survives today on some parts of the globe.

Introduction

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History of currency in India There is some historical evidence to show that the

first coins may have been introduced somewhere between 2500 and 1750 BC. However, the first documented coins

date from between the 7th/6th century BC to the 1st century AD. These coins are called 'punch-marked' coins

because of their manufacturing technique.In 712 AD, the Arabs conquered the Indian province of Sindh and brought their influence and coverage with them. By the 12th Century, Turkish Sultans of Delhi

replaced the longstanding Arab designs and replaced them with Islamic calligraphy. This currency was referred

to as 'Tanka' and the lower valued coins, 'Jittals'. The Delhi Sultanate attempted to standardise this monetary system and coins were subsequently made in gold, silver

and copper.

Silver punch mark coin of the Maurya empire, known as Rupyarupa, 3rd century BCE.

Rupiya issued by Sher Shah Suri 1540–1545 CE

British Indian one and ten rupee note Indian one pice, minted in 1950

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•In 1526, the Mughal period commenced, bringing forth a unified and consolidated monetary system for the entire Empire. This was heavily influenced by the Afghan Sher Shah Suri (1540 to 1545) who introduced the silver Rupayya or Rupee coin.

•It was only in 1858 when the British Crown gained control of the one hundred Princely states, and subsequently ended the Mughal Empire, that the coin's native images were replaced by portraits of the Monarch of Great Britain to indicate British Supremacy. In 1866, when the financial establishments collapsed, the control of paper money also shifted to the British Government. This was subsequently passed to the Mint Masters, the Accountant Generals and the Controller of Currency. In 1867, the Victoria Portrait series of bank notes was issued in honour of Queen Victoria.

•After gaining its independence in 1947 and becoming a republic in 1950, India's modern Rupee reverted back to the design of the signature Rupee coin. The symbol chosen for the paper currency was the Lion Capital at Sarnath which replaced the George VI series of bank notes. In 1996, the Mahatma Gandhi Series of Paper notes was introduced.

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Modern Forms Of Money

•Cheque•Demand Draft•Atm Card•Online Transfer•Credit Card

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ChequeCheque

Cheque

Cheque

A cheque is a document that orders a bank to pay money from an account. The drawer writes the various details including the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known as the drawee, to pay that person or company the amount of money stated.Cheques are a type of bill of exchange and were developed as a way to make payments without the need to carry large amounts of money.

]A method used by individuals to make transfer payments from one bank account to another. Demand drafts are marketed as a relatively secure method for cashing checks. The major difference between demand drafts and normal checks is that demand drafts do not require a signature in order to be cashed. It is also known as "remotely created checks".

Demand draft

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An ATM card is any payment card issued by a financial institution to its customers which enables a customer to access an automated teller machine (ATM) for transactions such as deposits, cash withdrawals, obtaining account information, and other types of banking transactions. The payment card may be any card which has that feature enabled, and may be a debit, credit, a limited-use ATM or other card. Interbank networks allow the use of ATM cards at ATMs of financial institutions other than those of the issuing institution.

ATM

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Online TransferOnline Transfer is a simple, convenient, and secure way to send and receive money directly from one bank account to another. All you need is access to online or mobile banking through a participating financial institution.

]A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are pre-set according to the individual's credit rating.

Credit card

ConclusionHope you liked this ppt. we faced a lot of hard work while dealing with this ppt, but at last we were satisfied . Not as a burden to complete this project, but we learned something extra and it also made our concepts clear. A very little part of the information was took by net , the rest was from book and self prepared.