Description

CBSE-2019-Disaster Management Project Book-Class-X-CBSE-With Project Worksheets-Vishvasbooks

Class-X-CBSE-2019-20

MODERN FORM OF MONEY- CURRENCY-PROJECT

INTRODUCTION

We know that money is something that can act as medium of exchange in transactions.Before the introduction of coins, a variety of objects was used as money. For Example , since the very early ages, Indians used grains and cattle as money. Thereafter came the use of mettalic coins-gold, silver, copper coins-a phase which continued well into the last century.

Self Help Group  (SHG)-PROJECT

In recent years, people have tried out some newer ways of providing loans to the poor. The idea is to oganise rural poor, in particular women, into small Self Help Groups (SHGs) and pool (collect) their savings.

Members can take small loans from the group itself to meet their needs. The group charges interest on these loans but this is still less than what the money lender charges. After a year or two, if the group is regular in savings, it becomes eligible for availing loan from the bank. Loan is sanctioned in the name of group and is meant to create self-employment opportunities for the members. For instance, Small loans are provided to the members for releasing mortgaged land, for meeting working capital needs (e.g. buying seeds, fertilizers, raw materials like bamboo and cloth), for housing materials, for acquiring assets like sewing machine, handlooms, cattle, etc.

Author

Ram Kumar Sharma

M.A.(History)B.Ed.