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Money Supply and Its Components or Features

of Present Currency System of India:
The monetary system prevailing in India at present is
managed and controlled by the Reserve Bank India. The
present monetary system is based on inconvertible paper
currency, supplemented by coins. On the external front Indian
currency ‘rupee’ is again convertible to various other
currencies of the world. Although in narrow sense, the term
money supply includes only the assets having ready liquidity
but in wider sense, it also includes various other assets.

Accordingly, in India, total money supply includes:

(a) Rupee coins and small coins.

(b) Rupee Notes or currency in circulation of different

denominations and

(c) The deposits of commercial banks.

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Barter System: The barter system was used before the advent
of money. People used to exchange one thing for another in this
system.
Double Coincidence of wants: The double coincidence of
wants is the major drawback of the barter system. It can be very
difficult to find a person who can fulfill this condition. Suppose
you want to barter your MP3 player with a game console, then
you need to find a person who wants to barter his game console
for an MP3 player.