What is that money which is accepted as a medium of exchange because of the trust between the payer and the payee?
Fiduciary money
The correct answer is: Fiduciary money. It is money that is accepted as a medium of exchange because of the trust or faith people have in the issuer, rather than its intrinsic value.
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Currency deposit ratio equals:
Important Questions from Basic Banking Concepts
Participatory notes are associated with which of the following?
Which of the following banks prints the currency notes in India?
National Income refers to ___________.
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Which of the following statement is true for instruments of Monetary Policy?
