Money and Credit
This chapter of the NCERT Class 10 Understanding Economic Development textbook, Chapter 3, explains money as a medium of exchange and the role of banks in deposits and loans. It compares formal credit from banks and cooperatives with informal sources such as moneylenders and traders, showing differences in interest, collateral and supervision. Using examples of small farmers, artisans and self help groups, it analyses why affordable credit matters for livelihoods, how debt traps arise, and how financial inclusion supports development.
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