Money and Credit 

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6 Terms

1

Credit

What is the activity of borrowing and lending money between two parties? Answer with a single words or term.

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2

cheque

A(n) ________ is a piece of paper instructing the bank to pay the money from the persons account to the person the check has been issued to.

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3

Modern Currency

The reserve bank of India issues currency, no other company is allowed to issue currency. What is accepted because the government has issued it? Answer with a single words or term.

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4

Reserve bank of India

What is the national bank that oversees the formal sector? Answer with a single words or term.

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5

Cheques

Advantages:- What are a lot easier to carry than money? Answer with a single words or term.

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6

Cheques

________ reduce a lot of risks.

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