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hello friends first of all welcome of all of you in this video lecture series of 11th commerce economics before starting this lecture i just revised what we studied in previous we start second topic of economics that is money so far up to this lecture we completed barter system difficulties of barter system then we start then we completed evolution of money and we start types of money so far we completed types as animal money commodity money metallic money and metallic coins so the next is paper money next is paper money it refers to the money which is form of paper currency notes issued by the government paper money is the money which is issued by government in the form of paper the picture shows examples of paper the picture shows examples of paper money paper money it's substitute for metallic money paper money it's substitute for metal again either you use paper money either use metallic money or you you use both money in india one rupee note and all coins one rupee note and all coins are issued by central government of india that is minister of finance but all other notes all other currency notes or all other paper notes are issued by central bank of india of central bank of country that is the reserve bank of india which is situated in mumbai which is situated in mumbai so representative paper money convertible paper money and inconvertable paper representative paper money when issuing authority keeps send percent metallica reserve against the issue of currency notes is known as a representative paper money it is called as a representative so in the form of all other in the form of gold in the form of silver known as a representative paper next convertible paper money when the issuing authority promised to convert currency notes into standard money on demand into standard money on demand also called as a representative money it is convertible paper money is also known as a representative paper money next inconverted paper money when the note issuing authority does not make any commitment of converting notes into standard money any commitment of converting notes into standard money it is also called as a fat money it is also called as a fat money okay so the paper money means the money which is issued by the central government of central bank of india there's a reserve bank of india in the form of paper known as a paper money next created money it refers to bank deposits kept by people with banks which are withdrawable at any point of time or can be transferred to someone else through an instrument of check known as credit money so credit money or bank money first of all the account holder may be saving account holder may be current account holder having their account with any bank in bank they deposit their amount that is as a saving deposit or as a current deposits or which are withdrawal available withdrawal by that particular person at any time or can be transferred to one account to another account or by issuing bearers to account directly from saving our current account to that particular receiver of that instrument with the help of check known as a credit money it is used to reduce the the actual handling of cash it reduce the risk in actual handling of cash because if you handle one check then you can give a check or assign a check to a person to a party to a merchant to a any per any particular business owner to complete your transaction so credit money plays an important role to bring and global economy cashless one of the step with the help of credit money one of the one of the steps with the help of credit money is used one of the steps which is taken by in globally taken in global economy to start or to to brings the economic cashless next plastic money next plastic money plastic money is a term that is used predominantly in reference to hard care hard cards we use every day in plastic money in actual instead of bank notes or instead of paper money we can use credit cards debit cards known as plastic money prepaid cash cards and store cards so what is my debit card and autism by credit card debit card means the card with the help of this can this debit card you can make transaction only up to the amount which is actually in your bank access of bank account you cannot withdraw with the help of debit card but in case of credit cards in case of credit cards you can withdraw amount excess of your means bank grant a particular amount to credit card holder up to that particular limit he can in instead of having balance in their account they can withdraw they can make a transaction up to that particular limit which is sanctioned by bank to the credit card holder so this is a plastic money and this picture shows debit cards and credit cards next electronic money then what is by electronic money e-money or electronic money is a monetary value that is stored and transferred electronically through a variety of means means with the help of electronic with the help of e-money or with the help of electronic money which possess monetary value electronic money e-money or electronic money is a monetary value that is stored and transferred electronically through a variety of means with the example mobile phones internet banking upi payment so if you open a saving account with any bank if you open a saving account with a bank so at that time bank gives you a password and login id so with the help of login add and password with the help of login id and password you can use or transfer amount to any account you can transfer amount to any account you can transfer amount to any account so the amount is directly debited from your account and credited to the respective receivers account directly so it is the benefits of electronic money it is the benefits of electronic money so for today i stopped here after watching this video you have to write down in detail types of money