Black money is any money on which it is not paid to the government. Black money is money earned through an illegal activity controlled by country regulations.
Effects of Black money on economy:
1. Dual economy.
2. Tax evasion, thereby loss of revenue to the government.
3. Undermining equity.
4. Widening the gap between the rich and poor.
5. Lavish consumption spending.
6. Distortion of production pattern.
7. Distribution of scarce resources.
8. Effects on production.

i) Student Savings Account
ii) Savings Deposits.
iii) Current Account Deposit
iv) Fixed Deposits (Term Deposit)
Student Savings Account:
i) Some banks offer savings Accounts specially for young people from schools and colleges.
ii) The main feature is to maintain lower minimum balance (zero).
Savings Deposit:
i) Savings deposits are opened by the customers to save the part of their current income.
ii) The customers can withdraw their money from their account when they require it.
iii) The Bank also gives a small amount of interest to the money.
Current Account Deposit:
i) Current accounts are generally opened by business firms, traders, and public authorities.
ii) It helps in frequent banking transactions
Fixed Deposits:
i) Fixed Deposits accounts are meant for investors who want their principle to be safe and yield then fixed yields.
ii) The fixed deposits are also called as term deposits as, normally, they are fixed for specified period.

Fonctions of money
i) Primary or main function.
ii) Secondary and Contingent function.
Primary functions:
i) Money is used to buy the goods and services.
ii) All the values are expressed in terms of money. So, money is used as a tool to value.
Secondary functions:
i) Money helps the future payment also
ii) The introduction of money has helped to save it for future as it is not perishable.
iii) Money makes the exchange of goods to distant places as well as abroad possible
iv) It was felt necessary to transfer purchasing power from one place to another.

i) The word money is derived from Roman word "Moneta Juno
ii) The Indian rupee is derived from the Sanskrit word - Rupya
iii) Today we use paper notes and coins as money.
iv) Many stages of evolution:
Commodity money
Metallic money
Paper money.
Plastic money
Electronic money.
Commodity money:
In the earliest period of human civilization, any commodity that was generally in demand and chosen by common consent was used as money.
eg: Furs, Skins, Salts, Rice, Wheat, Utensils, Weapons, etc.
Metalic money:
With the progress of human civilization, commodity money changed in to metallic money.
Metals like gold, silver, copper were used.
Paper money:
i) It was found inconvenient as well as dangerous to carry gold and silver coins from place to place.
ii) The invention of paper money marked a very important stage in the development of money.
Plastic money:
i) The latest type of plastic money is in the form of Credit cards and Debit cards.
ii) They aim for cashless transactions
E-Money:
Electronic money is a money which exists in banking computer system and is available through electric system.

A barter system is an old method of exchange. This system has been used for centuries and long before money was invented. People exchanged services and goods in return.
Disadvantages: 
i) Lack of double coincidence of wants.
ii) Common measure of value.
iii) Indivisibility of commodities.
iv) difficulties of storing wealth.