(i) People who live in a particular place or those who are involved in a certain work join together as a group and start saving.
(ii) These are called as Self Help Groups (SHG).

(i) ATM means Automated Teller Machine.
(ii) One can easily withdraw the necessary amount from ATM with the help of an ATM Debit card.
(iii) One can easily withdraw money needed at any time at ATMs located everywhere.

(i) Currency is the medium of exchange in a country.
(ii) The Indian currency is called the Indian Rupee.
(iii) In a country the foreign currency is called foreign exchange.
(iv) Purchasing capacity of all currencies in the world are compared using the US dollar as the standard currency.
(v) This value differs from country to country.
(vi) Most of the international trade transactions are carried out in.US dollar.

(i) The metals such as silver and gold gained importance gradually all over the world.
(ii) So, these metals were used as standard value in the exchange of goods.
(iii) This was called as natural money

The metals such as silver, gold and copper were used first. They were called ancient currency.

(i) The barter system flourished wherever civilizations thrived.
(ii) This system was active not only within a civilization, but also among civilizations.
(iii) As years went by, there were issues found in barter system.
(iv) To solve these issues, they fixed a common item with a standard value, for the effective exchange of goods.
(v) It was usually in the form of some metal.
(vi) Hence, the metals can be termed as the first form of money.

(i) When money replaced the barter system, a lot of practical issues were solved.
(ii) Money acts as a medium of exchange, a unit of measurement, a store of value and a standard of deferred payments. 
(iii) It plays an important role in transactions.
(iv) Money should be the common standard unit of calculating a country's total consumer goods, products, services, etc.
(v) For example if a book costs Rs.50, it means the price of the book is equal to 50 units of money.
(vi) Money is used to measure and record financial transactions in a country.

(i) One has to visit the bank and fill in a challan or produce a cheque to withdraw money from his account.
(ii) Now this practice is gradually vanishing.
(iii) Instead, one can easily withdraw the necessary amount from an Automated Teller Machine (ATM), with the help of an ATM debit card.
(iv) One can easily withdraw the money needed at any time at ATMs located everywhere.
(v) A person can deposit money in their account without visiting the branch.
(vi) Similarly, credit cards are also available, through which things are bought on credit and the amount can be paid later.
(vii) Nowadays, instead of using cheques or Demand Drafts (DDs), online transactions through net banking are carried out.
(viii) Through this, money is transacted to anyone who lives anywhere across the globe.
(ix) Technology has advanced so much that even mobile banking is widely used nowadays.