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      Class 10 Social Studies

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      • Class 10
      • Class 10 Social Studies
      CoursesClass 10Social StudiesClass 10 Social Studies
      • Civics
        24
        • Lecture1.1
          Power Sharing 41 min
        • Lecture1.2
          Chapter Notes – Power Sharing
        • Lecture1.3
          NCERT Solutions – Power Sharing
        • Lecture1.4
          Federalism 01 hour
        • Lecture1.5
          Chapter Notes – Federalism
        • Lecture1.6
          NCERT Solutions – Federalism
        • Lecture1.7
          Gender Caste 01 hour 04 min
        • Lecture1.8
          Chapter Notes – Gender Caste
        • Lecture1.9
          NCERT Solutions – Gender Caste
        • Lecture1.10
          Popular Struggles 01 hour 18 min
        • Lecture1.11
          Chapter Notes – Popular Struggles
        • Lecture1.12
          NCERT Solutions – Popular Struggles
        • Lecture1.13
          Political Parties 55 min
        • Lecture1.14
          Chapter Notes – Political Parties
        • Lecture1.15
          NCERT Solutions – Political Parties
        • Lecture1.16
          Democracy and Diversity 49 min
        • Lecture1.17
          Chapter Notes – Democracy and Diversity
        • Lecture1.18
          NCERT Solutions – Democracy and Diversity
        • Lecture1.19
          Outcome of Democracy 41 min
        • Lecture1.20
          Chapter Notes – Outcome of Democracy
        • Lecture1.21
          NCERT Solutions – Outcome of Democracy
        • Lecture1.22
          Challenges to Democracy 53 min
        • Lecture1.23
          Chapter Notes – Challenges to Democracy
        • Lecture1.24
          NCERT Solutions – Challenges to Democracy
      • Economics
        37
        • Lecture2.1
          Development 1 – Introduction 57 min
        • Lecture2.2
          Development 2 – Levels of Devplopment-Individual 23 min
        • Lecture2.3
          Development 3 – Levels of Development-National 32 min
        • Lecture2.4
          Development 4 – Development in Country, Type of Resources 10 min
        • Lecture2.5
          Development 5 – Levels of Devplopment-Individual_English 23 min
        • Lecture2.6
          Development 6 – Levels of Devplopment-National_English 32 min
        • Lecture2.7
          Development 7 – Development in Country, Type of Resources_English 10 min
        • Lecture2.8
          Chapter Notes – Development
        • Lecture2.9
          NCERT Solutions – Development
        • Lecture2.10
          Money and Credit 1 38 min
        • Lecture2.11
          Money and Credit 2 23 min
        • Lecture2.12
          Money and Credit 3 23 min
        • Lecture2.13
          Chapter Notes – Money and Credit
        • Lecture2.14
          NCERT Solutions – Money and Credit
        • Lecture2.15
          Sectors of Indian Economy 1- Introduction 44 min
        • Lecture2.16
          Sectors of Indian Economy 2 – Some Important Terms, Activity in Primary and Secondary Sector, Teritary Sector 01 hour 06 min
        • Lecture2.17
          Sectors of Indian Economy 3 – Devision of Sectors as Organised and Unorganised 21 min
        • Lecture2.18
          Sectors of Indian Economy 4 – Some Important Terms, Activity in Primary and Secondary Sector, Teritary Sector_English 01 hour 06 min
        • Lecture2.19
          Sectors of Indian Economy 5 – Devision of Sectors as Organised and Unorganised_English 21 min
        • Lecture2.20
          Chapter Notes – Sectors of Indian Economy
        • Lecture2.21
          NCERT Solutions – Sectors of Indian Economy
        • Lecture2.22
          Globalization of the Indian Economy 1- Globalization of the Indian Economy 01 hour 39 min
        • Lecture2.23
          Globalization of the Indian Economy 2- Economics Polices, Captalist Economy, Socialist Economy 34 min
        • Lecture2.24
          Globalization of the Indian Economy 3- Production Activity, Interlinking Production Across Countries 23 min
        • Lecture2.25
          Globalization of the Indian Economy 4 – Forien Trade and Integration of Market, 20 min
        • Lecture2.26
          Globalization of the Indian Economy 5 – Factors That Have Enabled Globalisation, Steps to Attract Foreign Investment 24 min
        • Lecture2.27
          Globalization of the Indian Economy 6 – Economics Polices, Captalist Economy, Socialist Economy_English 34 min
        • Lecture2.28
          Globalization of the Indian Economy 7 – Production Activity, Interlinking Production Across Countries_English 23 min
        • Lecture2.29
          Globalization of the Indian Economy 8 – Forien Trade and Integration of Market_English 20 min
        • Lecture2.30
          Globalization of the Indian Economy 9 – Factors That Have Enabled Globalisation, Steps to Attract Foreign Investment_English 25 min
        • Lecture2.31
          Chapter Notes – Globalization of the Indian Economy
        • Lecture2.32
          NCERT Solutions – Globalization of the Indian Economy
        • Lecture2.33
          Consumer Rights 1 – Introduction 45 min
        • Lecture2.34
          Consumer Rights 2 – Goods and Services, Unfair Trade Practices 31 min
        • Lecture2.35
          Consumer Rights 3 – Different Types of Rights 42 min
        • Lecture2.36
          Chapter Notes – Consumer Rights
        • Lecture2.37
          NCERT Solutions – Consumer Rights
      • Geography
        28
        • Lecture3.1
          Resources and Development 1 53 min
        • Lecture3.2
          Resources and Development 2 44 min
        • Lecture3.3
          Chapter Notes – Resources and Development
        • Lecture3.4
          NCERT Solutions – Resources and Development
        • Lecture3.5
          Forest and Wildlife 48 min
        • Lecture3.6
          Chapter Notes – Forest and Wildlife
        • Lecture3.7
          NCERT Solutions – Forest and Wildlife
        • Lecture3.8
          Water Resources 1 12 min
        • Lecture3.9
          Water Resources 2 49 min
        • Lecture3.10
          Chapter Notes – Water Resources
        • Lecture3.11
          Agriculture 1 01 hour 06 min
        • Lecture3.12
          Agriculture 2 10 min
        • Lecture3.13
          Chapter Notes – Agriculture
        • Lecture3.14
          Minerals and Energy Resources 1 45 min
        • Lecture3.15
          Minerals and Energy Resources 2 58 min
        • Lecture3.16
          Minerals and Energy Resources 3 49 min
        • Lecture3.17
          Minerals and Energy Resources 4 38 min
        • Lecture3.18
          Chapter Notes – Minerals and Energy Resources
        • Lecture3.19
          Lifeline of National Economy 1 37 min
        • Lecture3.20
          Lifeline of National Economy 2 26 min
        • Lecture3.21
          Lifeline of National Economy 3 40 min
        • Lecture3.22
          Lifeline of National Economy 4 29 min
        • Lecture3.23
          Lifeline of National Economy 5 33 min
        • Lecture3.24
          Chapter Notes – Lifeline of National Economy
        • Lecture3.25
          NCERT Solutions – Lifeline of National Economy
        • Lecture3.26
          Manufacturing Industries 02 hour
        • Lecture3.27
          Chapter Notes – Manufacturing Industries
        • Lecture3.28
          NCERT Solutions – Manufacturing Industries
      • History
        28
        • Lecture4.1
          The Age of Industrialization 01 hour
        • Lecture4.2
          Chapter Notes – The Age of Industrialization
        • Lecture4.3
          NCERT Solutions – The Age of Industrialization
        • Lecture4.4
          Rise of Nationalism in Europe 01 hour
        • Lecture4.5
          Chapter Notes – Rise of Nationalism in Europe
        • Lecture4.6
          NCERT Solutions – Rise of Nationalism in Europe
        • Lecture4.7
          The Making of a Global World 01 hour
        • Lecture4.8
          Chapter Notes – The Making of a Global World
        • Lecture4.9
          NCERT Solutions – The Making of a Global World
        • Lecture4.10
          Globalization – Part 1 01 hour
        • Lecture4.11
          Globalization – Part 2 42 min
        • Lecture4.12
          Work Life Leisure 01 hour
        • Lecture4.13
          The Nationalist Movement in Indo-China 1 35 min
        • Lecture4.14
          The Nationalist Movement in Indo-China 2 01 hour
        • Lecture4.15
          The Nationalist Movement in Indo-China 3 59 min
        • Lecture4.16
          Nationalist Movement in India 1 23 min
        • Lecture4.17
          Nationalist Movement in India 2 51 min
        • Lecture4.18
          Nationalist Movement in India 3 01 hour
        • Lecture4.19
          Nationalist Movement in India 4 20 min
        • Lecture4.20
          Chapter Notes – Nationalism in India
        • Lecture4.21
          NCERT Solutions – Nationalism in India
        • Lecture4.22
          Novels Society and History 1 55 min
        • Lecture4.23
          Novels Society and History 2 32 min
        • Lecture4.24
          Novels Society and History 3 50 min
        • Lecture4.25
          Print Culture and Modern World 1 01 hour
        • Lecture4.26
          Print Culture and Modern World 2 47 min
        • Lecture4.27
          Chapter Notes – Print Culture and Modern World
        • Lecture4.28
          NCERT Solutions – Print Culture and Modern World

        Chapter Notes – Money and Credit

        Topics in the Chapter 

          • Overview
          • Money as a medium of exchange
          • Modern form of money
          • Loan activities of bank
          • Two different credit situation
          • Terms of credit
          • Formal sector credit in India
          • Self-help groups for the poor

         

        Overview
        (i) Money is a fascinating subject.
        (ii) Modern forms of money are linked to the banking system.
        (iii) Functions of money.
        (iv) Creation of money.
        (v) Credit is a crucial element in economic life.
        (vi) Other crucial issue of credit is its availability to all.

        Money as a medium of exchange
        • Money is an item which is used as a medium of exchange. In modern economy, money is work as an intermediary. It is used as a medium of exchange for goods and services. It is also used for payment of debts.
        • Introduction of money replaced the batter system. Before the introduction of money, Indians used grains and cattle as money. In a barter system, selling and purchasing of goods and services was done with “double coincidence of wants” i.e by fulfilling mutual wants without the use of money. In this system goods and services was exchanged for another goods and services. It was also known as CC economy i.e commodity for commodity economy. 

        Modern form of money
        (i) Currency
        • Modern forms of money include currency — paper notes and coins. The modern coins are not made with the precious metals like gold, silver. The real values of the modern coins are less than its face value. Currency notes are also used as a medium of exchange in modern economy. The currency notes are made with paper. The real values of the currency notes are less than its face value.

        • The currency is authorized by the government of the country. So, it is used as a medium of exchange and accepted by the others. In India, Reserve bank of India has authority to issue currency notes on behalf of the central government. In India, no individual can legally refuse to accept the rupees issued by the Reserve bank of India.

        (ii) Deposits with Banks
        • Deposits with Banks are also a form of money. A person can deposit in the bank by opening an account on his/her name. People need only some money at a point of time. So, people can deposit extra money and earn extra money, which is given on money already depositing in bank.

        • A facility of payment through cheque is also provided by the bank to their customers. Cheque work as an instrument for payment which is made by the paper. A person can directly transfer money to another person through cheque rather than in cash. 

        Loan activities of bank


        • Bank work as mediator between the depositors and the borrowers. People deposit their money in bank and get some rate of interest as extra income. Banks hold only some percentage of their deposit in bank. 

        • A major portion of the deposited money is provided to those people who are needy of money for economic activities.In this case, money is provided as a loan with a higher rate of interest. The difference between interest on borrowing money and the interest of deposited money is the income for the bank.

        Two different credit situations

        • Credit is an agreement in which is created when a person gives money and goods to the needy person with the promise of to repay that with some rate of interest.

        • There are two types of credit situation

        (i) In the first situation, a person borrows money for production activities with the promise to repay the loan at the end of the year when production work will be completed. And at the end of the year, he/she makes a good profit from production activities and he/she is able to pay the amount of loan. Therefore, that person becomes better off than before.

        (ii) In the second situation, a person borrows money for production activities with the promise to repay the loan at the end of the year when production work will be completed. And at the end of the year he/she unable to repay the loan due to loss in production. For this term, he/she come under the situation of debt trap. Therefore, that person becomes worse off than before.

        Terms of credit

        • The interest rate, collateral and some documents fulfill the requirements of the terms of credit. Interest rate is specified when a lender provides loan to the borrowers. A borrower will have to repay the amount taken from the lenders with the amount of interest. In some case, lenders may demand collateral against loans. 

        • Collateral is an asset of the borrowers which is given to the lenders as security for the specified period. A lender can use the assets which are held by him as security until the amount of loan is repaid. The lender has right to sell the assets or collateral when the borrower fails to repay the amount of loan in a specified period.

        Formal sector credit in India
        • There are two types of sources of credit in an economy.

        (i) Formal sector
        (ii) Informal sector 

        • Formal sector
        In the formal sector, loans from banks and cooperatives are included.

        • Informal sector
        In the Informal sector, loans from moneylenders, traders, employers, relatives and friends are included.
        • As we know that major portion of the deposited money is provided to those people who are needy of money for economic activities. In India Reserve bank of India is supervised the functioning of loan activities in formal sectors. In India, the rate of interest in informal sector is greater than the rate of interest in formal sector. Rate of interest in formal sector is supervised by the legal authorities.
        • In the Informal sector, the rate of interest is supervised by moneylenders, traders, employers who are provided money. The rate of interest is varying from person to person. There is no organization for supervising loan in informal sector. Lenders can use any method to get back their money from the borrowers. Sometimes, the incomes of the borrowers become less compare than the amount which has to pay due to the high rate of interest.

        • In this chart, we can see sources of credit in rural areas are mostly dependent on professional and agriculture moneylenders in case of informal sources of loan. For the development of a country, cheap and affordable credit is crucial. Therefore, the government should facilitate formal sources of credit basically in rural areas.

        Self-help groups for the poor

        • Facilities of banks are not available in all rural areas. So, the poor are dependent on informal sector for borrowing loan. The poor have to pay a high rate of interest to the moneylenders. It is difficult to borrow loan from the bank. Because of the absence of the collateral and documents. And documents and collateral are required for a bank loan. Informal lenders like, moneylenders are often willing to give a loan without collateral because they personally knew the borrowers.

        • An organisation constituted to collect the savings of the poor which is known as self-help group. The aim of the organisation is to lend loan at less rate of interest compared to the rate of interest specified by the moneylenders. A self-help group has 15 – 20 members. Savings vary from member to member i.e Rs. 25 to Rs. 100 depending on the ability of the person to save.

        • The organisation also provides self-employment opportunity for the member by the way of sanctioning the group. For example, small loans are provided to the members for releasing mortgaged land, for meeting working capital needs, for housing materials, for acquiring assets. There is also a group for repayment of loan. In case of any non-repayment by the one member is followed by the other member of the organisation.

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