What is a ‘legal tender’? What is ‘fiat money’?
Government of India has recently launched 'Jan-Dhan Yojna' aimed at every household in the country to have at least one bank account. Explain how deposits made under the plan are going to affect national income of the country.
Explain the 'bank of issue' function of the central bank.
Or
Explain 'Government's Bank' function of central bank.