CBSE Class 12-commerce Macroeconomics Demand and Supply of Money
Learn about the demand and supply of money from the CBSE Class 12 Commerce Economics chapter Money and Banking by referring to the revision notes, sample papers, past years’ papers etc. at TopperLearning.
In a modern economy, money consists mainly of currency notes and coins issued by the monetary authority of the country. In India, the currency notes are issued by the Reserve Bank of India (RBI), which is the monetary authority in India. However, coins are issued by the Government of India. Apart from currency notes and coins, the balance in savings or current account deposits held by the public in commercial banks is also considered money since cheques drawn on these accounts are used to settle transactions. Such deposits are called demand deposits, as they are payable by the bank on demand from the account holder.
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