"A commodity which is usually accepted as a token of payment. Main functions of money are: medium of exchange, unit of account and store of value. Types of money are cash or currency, bank money, near money, E-cash, quasi money, token money etc. Value is indicated on the faces of currency notes and coins which is imputed by government. Purchasing power is the goods and services bought within given amount of money. Banks are financial institutions whose function is based on accepting funds from public and lending to public besides others. Tasks performed by Banks include accepting fixed deposits, extending loans, creation of credit, transfer of funds, agency functions and general utility services. Central Bank is the head bank of an economy which is given the task to control and regulate the banking operations of all commercial banks. In India, Reserve Bank of India is the Central Bank. More details on this topic is described in detail in the powerpoint presentation."

Sahreen Younis Ahanger

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