Unit 3: Money and Credit

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Here is a syllabus outline for Unit 3: Money and Credit in Class 10th Economics, based on the CBSE (Central Board of Secondary Education) curriculum:

1. Introduction to Money and Credit
   - Meaning and functions of money
   - Evolution of money (barter system, metallic money, paper money, etc.)
   - Importance of credit in the economy

2. Role of Money in an Economy
   - Medium of exchange, unit of account, and store of value
   - Functions of money in an economy
   - Characteristics of good money

3. Modern Forms of Money
   - Currency (coins and banknotes)
   - Demand deposits
   - Digital money (e-money, mobile wallets, online transactions)
   - Plastic money (credit cards, debit cards)

4. Loans and Credit
   - Meaning and concept of loans and credit
   - Importance of credit for individuals and businesses
   - Types of credit (short-term, long-term, secured, unsecured)

5. Formal and Informal Sources of Credit
   - Formal sources (banks, cooperatives, microfinance institutions)
   - Informal sources (moneylenders, relatives, friends)
   - Features, advantages, and disadvantages of formal and informal credit sources

6. Terms Related to Loans and Credit
   - Principal amount
   - Interest rate
   - Collateral
   - Creditworthiness
   - Repayment period
   - EMI (Equated Monthly Installment)

7. Reserve Bank of India (RBI)
   - Role and functions of the Reserve Bank of India
   - Monetary policy and its objectives
   - Role in regulating banks and controlling money supply
   - Banking services provided by RBI

8. Cost of Credit
   - Interest rate and its determination
   - Factors influencing the interest rate (creditworthiness, inflation, demand and supply of credit)
   - Calculation of simple interest

9. Formal Sector Credit in India
   - Role of commercial banks in providing credit
   - Priority sector lending
   - Role of RBI in promoting financial inclusion

10. Self-Help Groups (SHGs) and Microfinance
    - Meaning and concept of SHGs
    - Role of SHGs in providing microfinance services
    - Features and benefits of microfinance

This syllabus outline covers the main topics and concepts included in the unit of Money and Credit in Class 10th Economics, as per the CBSE curriculum. It provides a comprehensive understanding of the role of money, types of credit, sources of credit, and the functioning of the Reserve Bank of India in the Indian economy.

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