MP Board · Class 10 · Social Science · Economics: Money and CreditWhat are the modern forms of money?

The modern forms of money include currency notes, coins, and deposits with banks. Unlike precious metals like gold and silver in ancient times, modern currency is not made of precious metals and does not have daily use value of its own. It consists of paper notes and coins authorized by the government. Additionally, bank deposits held in savings or current accounts function as money through cheques and digital transfers in the modern financial system.