A B D

1 Timestamp Doubt / Query / Feedback Remarks

What if Shop wala is agree to accept
DD/Cheques for payment. Then it would be The legal tender is defined by the laws viz. RBI act and the coinage act. Whether a
1-6-2019 10:16:43 called legal tender or not? What is local shop is shopkeeper is agreeable to accepting a cheque / credit card/ filmstar photo-walli currency
not agree to accept coins then it would be called By his own volition and free will, it does not make a thing legal tender.
2 legal or not?
We can divide a big diamond into 10 smaller diamonds and use them to buy things, so it is
sir what is divisibility problem?can you explain it
1-6-2019 10:22:58 divisible yes. but collectively we cannot use 10 diamonds to buy the same amount of thing
once more?
3 as a one big Diamond. so diamond is divisible yes but it is not fungible.
सर मिृ त िसक्को को यवहार म उपयोग म नहीं ले A shopkeeper can refuse to accept the 100 rupees commemorative coin bearing the face of
सकते ह | लेिकन उ ह लीगल मुद्रा कहा जा सकता ह या Atal Bihari Vajpayee because this coin is not notified as a legal tender and therefore
1-6-2019 10:29:56
नहीं ? यिद प्रारं िभक परीक्षा ने िकसी प्र न म यह िवक प commemorative coin is not a legal tender until it is notified by the government or RBI.
हो तो इसे लीगल मुद्रा मानना चािहए या नहीं ?
4
Doubt regarding fiat and legal tender...
✓100 rupee coin having Vajpayee ji is a fiat
money(since issued by govt order) but not a legal
tender. 10 rupee coin issued by Government. Other than that, Yes your interpretation is correct in
1-6-2019 10:31:02
✓Whereas the 10 rupee coin by RBI is both fiat both the things
and legal tender.
This is what I understood from yesterday class
5 sir..is it correct???
These two term are used for explaining the particular characteristic of money. Fiat money =
issued by the legally binding command of the government. Legal tender = means the said
Sir what is the difference between fiat money and
1-6-2019 10:44:46 fiat money can be used for settling debt & transactions throughout the country. No one can
legal tender?
refuse to accept in that area. Legal tender then divided into two parts- limited and unlimited
legal tender. Which I've explained in the table 2 at page 4 oF handout.
6
The principle behind deferred payment is that you buy something right now and pay for it
with interest at a later period. EMI means equated monthly installment. If there is a
particular business deal where the payment is deferred and paid on annual basis, we
1-6-2019 13:01:26 Sir, Are Deferred payments and EMI same?
cannot say it is EMI however conceptually both “deferred payment” and “EMI” are same
things i.e. you buy something right now and pay for it with interest
7
 A B
1-6-2019 13:03:13 Difference of fiat money and legal tender
8
1-6-2019 13:05:35 Sir i cant download the pdf .
9 to contact the technical support team at help@unacademy.com
10 1-6-2019 13:06:36 Can u please provide the ppts ASAP
when rbi is already assigned with issuing
1-6-2019 13:06:45 currency notes, why govt issues coins? what will
happen if rbi only does both the works?
11
There are rewarding systems like Payback, SBI
Rewards, these banks/companies give us points
when we buy something online or offline. We can
redeem these on partner merchants online or
offline but we cannot combine these points and
1-6-2019 13:07:11
make use of them together during redemption. Is
this also a case of Interoperability issue? Is
Interoperability issue only with money in e-
wallets or also with points/rewards we have
linked to our bank accounts?
12
after finance act 2017 can we consider cheques
1-6-2019 13:08:32
and DD the legal tenders?
13
1-6-2019 13:08:39 i cannot access the google query form
14
sir ,where recorded video link
1-6-2019 13:11:11
15
D
These two term are used for explaining the particular characteristic of money. Fiat money =
issued by the legally binding command of the government. Legal tender = means the said
fiat money can be used for settling debt & transactions throughout the country. No one can
refuse to accept in that area. Legal tender then divided into two parts- limited and unlimited
legal tender. Which I've explained in the table 2 at page 4 oF handout.
I would suggest you to download the PDF file by accessing the website through Google
Chrome Browser on a desktop PC or laptop. if the problem still persist I would suggest you
yes ppt has been uploaded. check dashboard
The powers to issue specific currency notes and coins are given in the RBI act and in the
coinage Act. if we want that RBI should print the one rupee note then parliament has to
amend those acts but anyways one rupee currency notes are not printed in large volume
due to the associated costs so it is not a big matter for the government / parliament to
amend / debate such colonial era things.
While you have raised a valid point, but If we go by the RBI guidelines on interoperability,
then it’s focused on the e-wallets /PPIs (Prepaid instruments) and not these points and
reward system of individual bank’s credit /debit card.
we can’t call them (cheque NEFT etc) as legal tenders, because legal tenders are defined
exclusively in the RBI act (i.e. all bank notes) and in the coinage act (i.e. coins and one
rupee note) and there they have not yet inserted these terms (cheque NEFt etc). So we
can’t call them legal tenders.
Sonali i've recieved your question, so it means you've accessed the querry form. use this
link in future, if problem: http://bit.ly/mrufaq1
link is sent to you in email. check your spam folder and even if you have not received the
email link for some reason, still you can watch the recorded video by going into your
unacademy dashboard course page. If still doubt related to this matter, contact the
technical support team at help@unacademy.com
 A B D
Sir, does demonetisation has any backing of law
or just an executive action? and if possible in as I had mentioned in the lecture itself, I will cover the Demonetisation issue in the future
1-6-2019 13:12:10
next video discuss little about impacts of lectures under Pillar #2 and #3
16 demonetization. Thank you.
MDR applied on merchant- on both physical transaction of cards ( that is swiping a card
Is MDR also levied on online transactions made
inside a POS machine) as well as online transactions ( that is entering your card number,
1-6-2019 13:32:32 using cards or is it only levied at point of sale
CVV and OTP in a webportal or app)
machines in stores?
17
1-6-2019 15:21:52 HOW TO READ NEWSPAPER SIR ?? This question will be covered in one of my upcoming articles on my website, so stay tuned.
18
Around 6 to 7 minutes for 150 words answer and around 10 to 11 minutes for the 250
What is ideal time limit for 250 words ans 150 words answer. Although in the real UPSC mains exam some of the questions will be so
1-6-2019 16:00:18
words question? random and unpredicted that you will not be able to attend them, and therefore it will give
19 you some more spare time to devote to the remaining of the questions.
Sir in the the Mains Answer writing Q, for
Yes you can use diagrams, to enrich your answer- however text is also required Above and
1-6-2019 16:21:37 Interoperability (150 marks) part can we explain
below diagram explain the answer.
20 using a diagram.? Thank you.
21 1-6-2019 16:26:10 HOW TO GET MRUNAL'S LAC. NO.2 PDF? You will get the email notification when the next PDF is uploaded
22 1-6-2019 16:54:07 such a morale booster. thnku.. welcome
Sir I have a doubt ,today in your lecture you
mentioned that for demonetizing currency RBI as I had mentioned in the lecture itself, I will cover the Demonetisation issue in the future
1-6-2019 16:55:07
recommends but why Former governor of RBI lectures under Pillar #2 and #3
23 Raghuram rajan was not supporting it.
24 1-6-2019 18:09:53 no question not asked.
25 1-6-2019 18:10:13 good question not asked.
Sir as per we know that during earlier times
printing of currency was backed by amount of
gold. but that scenario is not present now. So sir i as I had mentioned in the lecture itself, I will explain the currency standards in the
1-6-2019 19:38:45
want to clear one doubt that how are we able to upcoming lectures i.e. on what basis is the money printed?
print currency? is there any basis for printing like
26 foreign reserves or so?
 A B D
Because large volume of cash currency use facilitates corruption, black money,
sir, you mentioned that debit ,credit card and terror finance. therefore government has put the ceiling of 200000 rupees on cash
cheque are not fiat money and are not under
payment and required the people to use the cheque demand draft, NEFT etc.
legal tender, but in the concept of unlimited legal
1-6-2019 20:55:23 because those are linked with the bank account and bank accounts are linked with
tender why there is a law which makes it
mandatory to use cheque for money above 2 PAN card so government can monitor the transactions. if it is asked in MCQ simply
lakhs? remember that currency notes are unlimited legal tender in theory. cheque
27 demand draft etc. are not legal tenders in theory.
For exam you simply rely on the text-based handout Because it has been designed with the
Hi sir, actually your handout was a bit confusing
logical order important from a students point of view for the examination whereas the
because the order in the PPT was different from
PowerPoint is designed based on the logical order that is important to me as an educator to
1-6-2019 22:09:29 the order in the handout. If possible, could you
explain or illustrate a particular set of topics or time the lecture so i can give the break at a
make the order of the two the same? It would be
particular point..By and large they are running in the same logical order but some of the
helpful for us to follow the class better. Thanks!
topics may be up or down for example ATM topic is given before or after the MDR.
28
Greetings sir. As expected, your classes are
From any single month- there is usually not more than 2 MCQs. If you make a strategy that
really bringing me some much needed clarity. Sir,
every month I will go through compilation from five sources (Vision, Drishti, GKToday,
I look up to you as a mentor like millions of other
Insights, IASBABA) and prepare my 6th secret note out of it, then you’ll be investing ~150
students. So, I need guidance from you in the
pages x 5 sources = 750 pages for a individual month- when the maximum aukaat of an
form of an advice. I am in my final year and I
individual month is just 2 MCQs in UPSC Prelims. And there are not more than 20 MCQS
want to appear this year. I am confused as to the
from D-1 year. (rest is theory / contemporary). For example,
source of current affairs. I read Insights and
UPSC Prelims 2017: theory 60 questions + Current affairs (D-1 year): 16 questions + 24
Vision and found them to be different in content
contemporary affairs (i.e. topics and issues that very news for last 2 years, 5 years, even
1-6-2019 23:46:59 and approach. Should I choose both of them ? Or
10 years) = 100 MCQs. similarly in UPSC Prelims 2018: 51 Theory + 13 Current (D-1 Year)
one. If one, then which one ? Also, I am going to
+ 36 Contemporary = 100 MCQs. So do not be fixated about the current affairs- it is not
leave Art and culture due to paucity of time. I
the largest item (theory) nor the second largest item (contemporary) that is asked in the
have joined vision ias test series.I know you
prelim exam. not just theory, even contemporary affairs requires you to read the books and
cannot officially support any of them but this is
paper backs: India yearbook, Environment (Shankar), Sci-tech (Ravi Agrahari), and so on.
eating up a lot of my time and there must be a
Hence the Current-Affairs-PDF-Obsessed approach to prelim preparation is not advisable.
clever yet resourceful answer to this. Please
just ready daily newspaper, and use any one source (vision /insight/iasbaba/drishti)
respond soon and apologies for asking a
question out of economics.
29
Sir plz reply...can i download and save the
recorded lecture in my laptop or i have to go I think you've to be online to access the videos. For more, contact the technical support
1-7-2019 7:54:35 always online for revision. Bcoz when i team at help@unacademy.com
donwloaded the video PPT was not there in the
30 video. Plz reply.
 A B D
31 1-7-2019 11:41:41 very good explaination .Thank you Welcome
sir, first of all thank you so much for your efforts.
Fiat Money means only coins and current notes in their physical form. So bank money
1-7-2019 12:46:31 I had a question regarding bank money i.e.
(cheque, DD etc.) is not fiat money
whether we will count it under fiat money or not
32
sir, does demonetisation has any legal backing or
just an executive action? and if possible please as I had mentioned in the lecture itself, I will cover the Demonetisation issue in the future
1-7-2019 17:19:34
discuss impact of demonetization in the next lectures under Pillar #2 and #3
33 class. Thank you.
unable to download pdf its ppt which get
1-7-2019 18:46:33 Scroll down in the same discussion page, the second post contains my PDF handout.
34 downloaded
Debasement is a term associated with full bodied coins. 5 rupee present coin is a token
Indian gov reduced metal in 5 rupees coin, is that
1-7-2019 18:53:35 coin therefore debasement will not be the appropriate term to describe the decreasing of
debasement?
35 the metal content in it .
If multiple bank accounts are linked with Aadhar this is a practical question and beyond the scope of our UPSC course. But, I’m certain
1-7-2019 18:55:59 card, which account will AePS or IDFC’s Aadhar IDFC aadhar pay would have some mechanism where the merchant app will ask you
pay use for deduction purposes? which bank account you want to use for money deduction
36
As of now who is supervising payment service
1-7-2019 18:58:09 BPSS.
37 providers, BPSS or PRB?
The statement noted that the tight liquidity
conditions had led to overnight call money rate
breaching the policy corridor on several
1-7-2019 19:17:34 I will be covering these terms in my future lecture
occasions. Consequently, the Reserve Bank of
India (RBI) decided to scale up its open market
operations (OMO) in December and January.
38
Sir....non promotion of division of labour in barter
1-7-2019 21:18:59 system is due to high cost of transaction or due Both.
to double coincidence of wants or both??
39
not able to post doubt as my request has not
1-8-2019 15:20:32 I've recieved this querry so that means successfully you've used the form.
40 been accepted via google doc
 A B D
Good Evening Sir,
As you taught in a slide to assume 1 dollar= 14g
Gold & similarly for Pound.
I want to ask:
1.) Why 1 Dollar=70 Rupees, 1 Pound= 90
Rupees , 1Kuwaiti Dinar= 234 rupees?
2.) How these currencies equivalent are
determined?
3.) And from where it started?
4.) If dollar is weaker as compared to pound then As I said in the lecture, i'll be covering the currency exchange rate in future lectures under
1-8-2019 15:32:05
does that mean USA is Economically weaker the third pillar (Balance of payment).
than England?
5.) If answer of 4.) is YES then why japan with
lower YEN value compared to rupee is
economically stronger than India and if answer of
4.) is NO then again a country with lower
currency value can be economically more
stronger than the other?
Kindly clear my doubts.
41 Thank You.
42 1-8-2019 20:28:09 fantastic learning with Mrunal sir Thanks
please accept the "access request" to doubt
1-9-2019 12:42:05 clearing google doc created by sir- I've recieved this querry so that means successfully you've used the form.
43 http://bit.ly/mrufaq1
On Page 3 of 1st pdf, I think there's a misprint
1-9-2019 17:10:50 In the second lecture i had instructed students to correct it.
44 regarding Thomas Grisham's Law.
Unable to access the question/doubt forum-
1-9-2019 18:53:49 I've recieved this querry so that means successfully you've used the form.
45 bit.ly/mrufaq1
Because if you want to get a 1000 rupee demand draft, the bank will ask you to pay the
Demand draft: can't be dishonored bcoz amount
amount first, before issuing it. so when i give that demand draft to supposea current affairs
1-9-2019 21:23:26 is prepaid means?
magazine- that draft will not 'bounce', unlike a cheque, which can bounce on account of
Excellent class.
46 insufficent balance.
 A B D

Sir I have following doubts:-

1. Why would a person go for NEFT when RTGS
is better, fast?
2. What is exactly hyperinflation?
3. Is it required to mug up all the acts name that
have been shared in the class in your lecture?
4. Suppose through NEFT there is no money
1-10-2019 22:33:43 from the opposite bank to be cancelled then what
will happen? (For ex. jo Axis bank and SBI waala
jo example diya tha aapne usme agar axis bank
ko 8 lacs nahi dene hain zero amount dene hain
then how will the transaction happen)?
1) RTGS requires min.2 lakh rupees transfer amount in SBI. so it's not meant for ordinary
retail transaction like 1000 or 5000 rupees- we've to use NEFT/IMPS.
2) if items were costing 100 rupees last month, and today costing 150 rupees, then we say
Hyperinflation has occured.
3) you need not memorize individual sections of any act, but yes act names and
chronologies have to be memorized.
4) Suppose through NEFT there is no money from the opposite bank to be cancelled then
SBI will transfer the total required money to the other bank. in that particular example 10
going from SBI minus zero coming from Axis that means SBI has to send 10 to Axis.

Thank You Sir and it is an honour to be your

student. Great learning experience.
47
unable to get access to online query LINK-
1-11-2019 19:33:28 I've recieved this querry so that means successfully you've used the form.
48 http://bit.ly/mrufaq1
please preovide access to link-http://bit.ly/mrufaq1
1-11-2019 19:34:35 I've recieved this querry so that means successfully you've used the form.
49
Good evening Sir, is your previous years youtube
By default, no need to watch old videos on youtube, as we are covering those things again
1-11-2019 21:34:47 video should watch ? Or, current year
in a compact and updated manner.
50 unacademy series will be sufficient?
When a consumer uses a debit card, the money comes directly from his bank account.
Whereas when he uses a credit card, the purchase is considered as a 'loaned amount'
1-11-2019 22:04:10 Sir debit card or credit card me ky difference h.??
which he has to repay after 30 days or so. so you can use a debit card, only with bank
balance. you can use credit card, evenwithout a bank balance (but you'll have to pay later)
51
1. Is there an example for fiat money that is not
legal tender or vice-versa?
2. UPI 2.0 extends facility to link overdraft
1-12-2019 17:31:12 I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
account, but current account previously linked
already has this facility. Is there any particular
52 distinction attached to overdraft account?
 A B D
Not able to access the spreadsheet to ask my
1-12-2019 17:44:20 I've recieved this querry so that means successfully you've used the form.
53 doubts
Sir, why is Card Payment Gateway included in
"Delayed/ Batch Settlement" when we can
1-12-2019 17:49:38 in the backend the transactions are settled in batches.
instantly make a payment through Debit Cards at
54 POS machine in real time?
sir can you explain about tokenisation which was
1-12-2019 18:03:47 Will explain it in the upcoming lecture
55 in the news recently. thank you
Does interest charged by RBI to bank while
1-12-2019 20:11:08 giving them loans comes under assets of RBI? If I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
56 no then why?
57 1-12-2019 20:13:18 Access denied for http://bit.ly/mrunalfaq1 I've recieved this querry so that means successfully you've used the form.
Not able to access the doubt form excelsheet.
1-12-2019 20:24:37 I've recieved this querry so that means successfully you've used the form.
58 Kindly help.
Sir, power point slides dubara padhni hai dwnld
krke or handouts only after class for revision?
1-12-2019 20:44:26 ....and sir class and handouts are suffcient na I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
..anything else to refer nhi krna for prelims and
mains... sir except 11th class ncert as you refer
59
How does the rising yen acts as a red flag for the
1-12-2019 21:06:21 I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
60 world economy?
How does the rising yen acts as a red flag for the
1-12-2019 21:06:39 I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
61 world economy?
sir i understand some students might be new and
beginners but i humbly request you to pls extend
the time a little if the designated portion is
1-12-2019 21:22:53 incomplete..like last week sundays time was I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
approx 2.5 hrs..i do not mean to disrespect you
or anybody..just a bit concerned for prelims.
62 thanku.. love your classes..
Sir,after seeing your lectures I felt that these
topics are related to dynamic issues.So in mains
1-12-2019 21:35:16 I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
how will the questions be covered?Will the static
63 questions be asked???
 A B D
In theory, holding Bitcoin itself should not be illegal if it is declared in the income tax
Is Bitcoin transaction illegal in India or legal after
1-12-2019 22:06:33 returns. And Bitcoin is not a legal tender, that means other party can refuse to accept it for
transaction declaration?
64 payment of goods/services in India
how to get access to the http://bit.ly/mrufaq1,
1-12-2019 23:43:51 I've recieved this querry so that means successfully you've used the form.
65 please provide access to the link

RBI issue department is responsible for creating the high powered money (M0). but it must
Net Assets = Net Liabilities; Is it true for RBI? If
be back by its assets which we have learnt in the previous lecture in a manner which is
1-13-2019 0:19:41 yes then how?(as we are not following gold
required and sufficient for UPSC prelims. Beyond that, no need to dwell into net and gross
backed currency concept)
concepts of the balance sheet of RBI such technical / academic / B.Com finesse is not
66 required.
Sir commemorative coins are introduced by by
central bank still not a fiat money .why? I
understand why its not a legal tender but why not
fiaat money.
1-13-2019 1:16:47 I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
Also,How we will get the answers of the query we
post here
67
Doubt- For M0, assets and liabilities should be
matched. 1 rupee coins are assets, whereas
1-13-2019 1:51:11 currency and coins in circulation are liabilities. I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday
How can coin be both asset and liability at the
68 same time?
UPI is a technology developed by the npci. it is used for developing mobile apps for money
1-13-2019 6:17:12 Difference between BHIM and UPI 2.0 transactions. original version was 1.0 then updated version was 2.0 with new features.
69 BHIM is an app developed by npci that works on the UPI Technology.
मणृ ाल सर, नम कार। मेरा एक प्र न आगे के लैक्चर के
For UPSC competitive exam, it is sufficient to know that services provided by the RBI are
िलए है , सर मुझे यह बताने का क ट किरएगा की Primary
exempted from previous service tax system and also extempted from the present GST
1-13-2019 8:22:00 lending certificate ट्रे िडंग पर service tax regime मे
system. Now whether individual banks are subject to GST on PSLC trading taking place on
बेचने वाले बक पर service tax लगेगा या नहीं।
RBI’s e-kuber - such technical in-depth knowledge not required for the civil service exam.
70 (Inspector in S.Tax deptt. plz reply sir)
 A B D
GDP = C+I+G+X. Suppose 1kg of onion is
I’ve explained your doubt in the lecture dated 13th Jan, 2019, Sunday, that we'll be
purchased by an IAS officer. 1kg of onion comes
1-13-2019 8:47:35 covering these GDP components in detailed manner when we learn about GDP in future
under C. as IAS officer is paid salary under G,
lecture.
isnt it leading to double counting of GDP?
71
(1) Outstation cheque is a cheque issued at one place but cashed in some other city, then
Q1What is out station cheque?
other city ‘s bank branch will demand charges on it, whereas “at par cheque” means such
Q 2How block chain technology works?
cheque will be cleared without askin for such charges.. (2) For Bitcoin and blockchain
Q3,When govt is promoting digital technology
Technology, we have learnt what is sufficient for UPSC exam. if you are interested in
1-13-2019 9:57:44 then why bit coins are banned, bit coins are used
knowing how exactly it works in real life from point A to point B, then I would suggest you to
digitally only and digital transaction ko trace krna
go for its self search through google.(3) Bitcoin wallet accounts can be created without
toh easy hota h.. Toh bit coins ko trace kyu nhi kr
giving PAN/email/phone number and the Bitcoin Technology does not keep record of the
paate?
IP addresses of the transactions. hence they are difficult to trace.
72
From when should I start exclusive prelims If this is your first attempt, then you should begin exclusive prelim-oriented preparation from
1-13-2019 9:58:15
73 preparation from the date of prelim-notification in February
Sir ye mrufaq1 wala use kse hota h.. Queries kha
1-13-2019 9:58:43 I've recieved this querry so that means successfully you've used the form.
74 puche?
75 1-13-2019 10:00:17 Unable to access the google doubt form I've recieved this querry so that means successfully you've used the form.
Q1. Sir bitcoin pr GST bhi toh lga skte h.. Toh (1) Bitcoin wallet accounts can be created without giving PAN/email/phone number and the
tax revenue yha se collect ho jaega? Bitcoin Technology does not keep record of the IP addresses of the transactions. hence
Q 2. Mining is the bit coin collection system but they are difficult to trace. So even if government demands 28% GST on Bitcoin based
exactly what mining is? I read in a book that it is transactions, still people can evade it.
1-13-2019 10:03:55 algorithm if it is true then how a common man (2) Bitcoin mining is the term used for this process in which computer program decodes
can solve that algo? the algorithm. a common man need not apply his own brain to solve this algorithm like an
Q3. Why bit coins are liked by so many people in mathematical-MCQ, it solved by the computer software inside his computer. (3) because
the world while we have faith in our own it’s a speculation driven rush that bitcoin will replace ordinary currency.
currency?
76
How queries can be asked?
1-13-2019 10:07:41 I've recieved this querry so that means successfully you've used the form.
77 How this mrufaq1 link is used?
78 1-13-2019 10:26:43 All No question is asked here.
sir m0 includes vault cash and bank deposit in
M1= Currency in circulation + demand deposits in the bank. if a kiranawalla has taken loan
rbi and currency in circulation. so m0 should be
and paid that money as purchase for raw material to Mukesh Ambani’s current account
1-13-2019 11:36:19 greater than M1 which is only currency in
(Demand deposit) and then Mukesh Ambani paid it to third party for something else...like
circulation?? is this logic correct sir. please
that M1 will be quite large compared to just M0.
79 explain!!
 A B D
Handout 3.1.1 table SLR column last sentence to
1-13-2019 12:43:20 as explaiend in sunday lecture, delete the last row entirely, and update the row above it.
80 not be striken out right?
Difference between vault cash and high powered Vault cash means the cash that banks keep for day to day transactions. what is high
1-13-2019 12:45:46
81 money powered money that I have already explain in detail in the previous lecture.
link which provide by mrunal sir
"http://bit.ly/mrufaq1" for Course related Queries
ask in google form after. Access denied for my
1-13-2019 12:46:34 email Id " mayurdesai62@gmail.com " which is I've recieved this querry so that means successfully you've used the form.
same as per my account. Please solve this
because I am unable to clear my doubt. I join this
class for clearing my doubt.
82
83 1-13-2019 13:01:32 Abc No question is asked here.
1-13-2019 13:02:20 Sir Phillips curve holds true always? We will learn more about the philip curve when we learn about the inflation in the pillar 4.
84
85 1-13-2019 13:20:12 Not able to access the google doc bit.lymrufaq1 I've recieved this querry so that means successfully you've used the form.
When is the recording for the class on 13/01/19
Syllabus of the quiz1: was barter system to Bitcoin so that was up to Saturdays class and it
1-13-2019 13:22:27 going to be uploaded? We have a test on 4:30
was already uploaded before Sunday.
86 pm the same day itself
I CANNOT ACCESS THE DOUBT FORM.
REQUEST IS DENIED.
1-13-2019 13:24:39 https://docs.google.com/spreadsheets/d/1Q- I've recieved this querry so that means successfully you've used the form.
1WyjBufyaZGNAYOAUBYGNZW_okAVc31yqZvB
87 AQb40/edit?usp=sharing_eil&ts=5c03a3af
i can not access doubt
1-13-2019 13:26:11 I've recieved this querry so that means successfully you've used the form.
88
Sir, if we invest our money in share market to buy
shares then will it be included in M3?......... 1) M3 simply means currency and coins with public + time and demand deposits of the
And if the Government fails to repay the money banks. If the payment of the share money is going into someone's bank account then yes it
1-13-2019 13:29:42
to RBI within time limit with interest then what will will be counted in the M3. however if someone is putting it into a post office savings
happen to G-sec? account then it will not get counted.
89 Thankyou in advance.
 A B D
1) tri-party repo is mainly for the Corporate companies,who required short term loans.
however suppose a non banking financial companies LIC or SBI Mutual Fund is in position
Sir, who is the borrower of corporate bonds
of such corporate bonds they can also pledge them to take short term loans from the tri
during the tripartite exchange? & also LAF &
party system 2) open market operation means RBI completely buying or selling the
1-13-2019 13:31:57 bank rate is included in monetary policy since
government securities without any promise of repurchase. so it is different from the bank
they've been decided by MPC then how OMO is
rate - where no government securities are used as collateral. OMO also different from repo
a part of the same? Pls explain
rate where borrowing client (bank/ Government /LIC etc) is promising the repurchase of
90 government securities from RBI.
I cannot access the doubt form. Request is
1-13-2019 13:32:59 I've recieved this querry so that means successfully you've used the form.
91 denied. Please look into the matter ASAP.
From last 3 session Prof. Mr. Mrunal Patel sir
provide google excel form link
http://bit.ly/mrufaq1 for doubt and query
regarding Mrunal’s Economy (Full) Course for
UPSC 2019.
But I am unable to access document, They show
message You need permission, I am login from
1-13-2019 13:39:17 I've recieved this querry so that means successfully you've used the form.
registered Email Id mayurdesai62@gmail.com,
but still not access it.
I join this class to clear my doubt but due to
access denied I am not getting my answers. I
request Mr. Mrunal Sir many on live class but he
unable to solve it.
I am requesting you please to solve this
92
are the NBFC which are liable to keep SLR
1-13-2019 15:22:14 MSF is only for banks
93 deposits, eligible for MSF?
94 1-13-2019 15:42:49 Cant see the excel sheet sir I've recieved this querry so that means successfully you've used the form.
 A B D
Hi Mrunal, I got below question from one website
and I think answer would be c, but they have
given it as 'a'. Please confirm.

Currency notes and coins are called Fiat money

because

(a) they do not have intrinsic value like gold or

1-13-2019 15:48:49 silver C should be the answer.

(b) made on special imported paper

(c) they are printed by government

(d) exchanged for goods and services

Answer .a
95
sir. G- sec, bonds or cheques are not legal Legal tender are defined in the RBI act and coinage act. If you are buying a buying a pizza
tender. understood. But why are they not fiat and paying in the form of Government securities or bond or cheque- Dominos shopowner
1-13-2019 15:58:05
money although they are issued or have legal can refuse to accept it- because they (G-Sec, Bond, Cheque) are not given in the list of
96 validity by govt or banks. legal tenders in the RBI act or coinage act.
Sir one doubt is there that why Assets should be
equal to Liabilities for RBI to print the currency
when there is no pegging to any standard like
(1) While there is no gold standard but still RBI needs to keep something in its asset side
gold.
(gold or government securities or foreign securities of the equivalent amount). If it prints
1-13-2019 16:04:01 1000 crores in random impulse without any backing of Government securities then it’ll
2nd (Out of the course question) Will you upload
create inflation and mismanagement in economy. (2) I have not thought about it yet so
answer writing video series in the future on
cannot comment.
Unacademy or your Youtube Channel or mains
answer writing model questions on Mrunal.org
97 website?
Will these videos be available after the course is
over? In case we wish to revise from videos will
1-13-2019 16:26:54 Yes you can access the videos even after the course is over.
they be on saved in my unacademy account
98 forever(2-3 years down the line)?
 A B D
i did not get pdf file of first class of mrunal
economy class.
the files are there in the discussion section only. scroll down in that page. if problem
1-13-2019 16:45:36 i went my discussion board according to guidance
persists please contact the technical support team at help@unacademy.com
plz share me direct link of pdf of first class
99

1)Yes they are connected with each other. 2) using MicroATM the bank-mitra will
How is Micro ATM and AEPS connected to each authenticate your Aadhaar Card and do the money transaction. AEPS is the back and
1-13-2019 16:55:05
other ? What are their functions ? online technology that will authenticate the process and do the plus minus of money in your
bank account accordingly.
100
Q1 is M0 equal to total money printed by RBI?
1)yes.2) By the market forces of supply and demand e.g. SBI is in dire need of cash then
Q 2 how interbank rate is decided?
Axis bank could demand 12%-14% etc. (3) there is quantitative limitations like maximum
Q3 in MSF how much of SLR g-sec can be
~2% of NDTL but we need not bother with such minute technical details for the UPSC
used?
1-13-2019 17:09:33 exam. 4) it is RBI on one side and on the other side the clients can be banks, state and
Q4 who are the clients in repo, reverse repo and
union governments, non banking financial institutions such as LIC, insurance companies
MSF?
etc. 5) SDF interest rate will be decided by the RBI’s monetary policy Committee, once
Q5 what will be the interest rate in standing
SDF is actually implemented by amendment of the RBI act.
101 deposit facility? And who will decide it?
102 1-13-2019 17:18:43 Sir quiz 1 ka answer key ?? you can see the answers given below the questions themselves once the quiz is over.
doubt regarding lesson 2--
I am unable to understand how card payment While the payment is done immediately, the actual settlements (of money from buyer’s
1-13-2019 17:22:48 gateway comes under delayed/batch bank to seller’s bank) take place on deferred basis. It could take from few minutes to 4
settlement?(as per page 6)when we using hours to fortnight to 30 days depending on card gateway and their policies with merchants.
mastercard/visa isn't payment done immediately?
103
Sir I have not got handout for mrunal economics the files are there in the discussion section only. scroll down in that page. if problem
1-13-2019 17:50:40
104 class persists please contact the technical support team at help@unacademy.com
Sir, in the liabilities of RBI , the last thing is 'Other
If someone got a job in RBI, he may be required to submit security deposit, and that could
deposits in RBI(of Public and Governments).
1-13-2019 18:23:53 get counted on this side. Government is doing transactions with the RBI so they would also
Please elaborate on the 'deposits of public with
have a current account in RBI’s e-kuber platform.
105 RBI'.
NDTL funda is explained in class, and mentioned on page 15 of the handout in connection
Sir NDTL is not present in PDF notes of today's
1-13-2019 21:23:10 of SLR. I have not given a short note on ndtl because it is such a basic thing that it does
class , i had checked all 24 pages
106 not warrant separate short note.
 A B D
If they have received excess amount of deposit but no one is coming to take the loans
immediately, then they have to park the money somewhere (to earn interest) so they will
Sir, Speaking generally,do all the banks have
purchase some government securities above and beyond their SLR requirement. Such
1-13-2019 21:55:33 Non SLR G-Sec with them.If yes why?If No Why
purchase is then be termed as non SLR quota government securities. If a bank running so
not?
efficiently that that whatever deposit is coming immediately it is given out as loan then they
107 may not have such non SLR government securities
Sir, I get confused with term "interest rate". Does Lending rate is the interest rate that is paid by the borrower (loan taker) to the bank.
it define the amount that borrower has to pay for whereas deposit rate is the interest rate that is given by the bank to the deposit holder of
1-13-2019 22:09:56 loan or the amount that bank will pay for deposits savings account, fixed deposit etc. when someone says that interest rates are rising or
or both and depends on context . please falling in an economy it is usually spoken in context of loan takers.
108 explain.Thank you.

1)sir u told to read the introduction of economic

1) each year survey has two volumens and about 9 chapters and each chapter’s
survey of last 3years..but there are many
introduction and conclusion should be read. counting just introduction conclusion passages
chapters and each chapter has a seperate
- then it’ll be collectively one page worth of text only so 3 x 2 x 9 x 1= 54 pages worth of
1-13-2019 22:52:51 introduction...so which one to study???
reading to enhance your answer writing skills. (2) if 4% reserve then 4/100=1/25. So
2) every R reserve generates 1/R new money....
R=1/25. Then it’ll generate 1/R money = 1/(1/25) = 25 times the money. re-look at the
didn't understand this one.. please explain sir
recorded video.
Thank you.with regards,koushal
109
Dear Sir, You have an excellent pedagogy. but
If I narrate a story to connect one topic with another- then it will basically become a
you handout doesnt have a connecting format of
transcription of the entire 2 hour lecture. Then 12 pages of handout will extend to 25-50
subjects. After reading one topic, next topic is
1-14-2019 0:13:40 pages and it will defeat the purpose of having a condensed format of exam Ready revision
quite not connecting the previous one. Please
notes. if you feel that readymade handout is deficient for your preparation, then you may to
make a little more effort in making the information
create your own self manually handwritten notes from the live / recorded class.
in story format the way you put in sessions.
110
The primary objective of bank rate is to decide the penalty rates for banks for not keeping
CRR SLR and other things. if a bank came to Reserve Bank for taking long term loans, it
will be governor’s discretion whether to give the long term loan or not. If he wanted, he
why is no collateral taken on long term lending by could require the bank to pledge some collaterals anyways, for the MCQs, we need not
1-14-2019 10:47:28
the banks (bank rate) ? take stress over how the clock actually works just look at the time displayed on the clock. In
other words- bank rate = RBI gives long term loan to banks, without requiring G-sec as
collateral, and it’s not primary tool of monetary policy. Repo rate is the primary tool of
111 monetary policy, hence repo rate is known as policy rate.
 A B D
Sir
1-14-2019 10:57:53 After 2 years govt doesn't buy G sec then what Then Bank can sue the government in Highcourt or Supreme Court of India.
112 will bank do with it?
I was going through http://bit.ly/mrufaq1 for
posting course related queries, but there was
1-14-2019 12:37:12 I've recieved this querry so that means successfully you've used the form.
access denied. Please do the needful.
113 thank you
sir commerative coin is fiat money coz issued by
gov but not legal tendor coz it cant be used for
1-14-2019 17:39:31 yes you're right in this.
normal transaction right?
114
A person hoarding or melting a full bodied coin will profit from his endeavor yes because
Sir, in Quiz, can you please give explanation for
intrinsic value of metal will be higher than face value (please see first lecture). 9R) In token
1-14-2019 17:49:35 answer of Question No. 3. i thought reason for
coin the intrinsic value of the metal is higher than its face value. second statement is
that statement was right.
115 wrong. so, answer 3= A is correct but is R false
Fiat money and legal tenders are defined in the RBI act and the coinage act. G-sec is
Are Commemorative coins and govt. Security
neither Fiat money no legal tender (i.e. if you try to pay for tea using Government Security,
1-14-2019 20:04:57 bonds fiat money because they are issued by
the tea seller is legally empowered to refuse your payment). regarding the commemorative
govt.
116 coin, I have explained you are doubt in last Sunday's lecture (13/jan)
I think there is an error in 1st handout pg. 3 i.e.
1-14-2019 20:06:44 will update in next lecture.
117 there should be Rs. 2 instead of Rs. 10
After finance act 2017, are cheque,DD,NEFT
under legal tender since creditor is bound to clear
Fiat money and legal tenders are defined & listed in the RBI act and the coinage act. since
1-14-2019 20:09:26 it's pending through these options beyond 2lakhs.
cheque/neft etc not given there, they're neither fiat money nor legal tender.
Thanks
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