A PROJECT ON

PLASTIC MONEY

CLASS - FYBBI

SUBJECT - EVS

TOPIC :- PLASTIC MONEY AARTI AGRE- 01

ABHISHEK DALVI-08JAYESH GAONKAR-12

DIPALI PAWAR-31PRIYANKA PENDKALKAR-32

Sr.No

INDEX Page No.

1 INTRODUCTION 4

2 MEANING

3 TYPES OF MONEY

4 PAPER MONEY

5 PLASTIC MONEY

6 TYPES OF PLASTIC MONEY

7 ADVANTAGES

8 DISADVANTAGES

9

10 BIBLIGRAPHY

MEANING OF MONEY:-

Money means more than the coin, paper or plastic to acquire goods and services. Money is linked to complex emotions, feelings and behaviors. Each person has "money messages" that are based on past experiences, what you observed and what you were taught. These money messages reflect the attitudes, perceptions and expectations that influence your financial behaviors today.

If you think about your childhood, what do you recall about your

household, the people and the community around you? What kind of

housing, food, and clothing did you have? Did most families have several generations living together in a house? Even if money was scarce, did you always have food on the table? Did you only wear new, named-brand clothing or was using second-hand clothes acceptable? Did you have more than one television in the house?

TYPES OF MONEY :-

Basically there are two types of money

Paper Money Plastic Money

PAPER MONEY:-

Currency in the form of government notes

and bank notes Cash in the form of banknotes currency in paper form, such as

government and bank notes, asdistinguished from metal currency.

PLASTIC MONEY:-

Plastic money or polymer money, made outof plastic, is a new and easier way of payingfor goods and services. Plastic money wasintroduced in the 1950s and is now anessential form of ready money whichreduces the risk of handling a huge amountof cash. It includes debit cards, ATMs,smart cards, etc.

PLASTIC MONEY (CONT.)

As we know many types of plastic money isavailable in the market such like credit cards & debit cards. Indian people are using plastic money for convenient mode of payment. The Plus point of plastic money is that you won't have to carry your cash around all the time. You have no fear to be theft. And its easy to use very easy.

TYPES OF PLASTIC MONEY:-

Plastic Money is of various forms it

A. CREDIT B. DEBIT

NO. OF CARD HOLDER IN FIVE HUNDRED MITTER AIRA. IN INDIA

2006-072007-08

2008-092009-10

0

2

4

6

8

10

12

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20

credit

debit

Column1

creditdebit

INFRASTRUCTURE FOR CARDS:-

Computer systems for processing capacity of(security)Large number of skilled personnelFacility to handle card, statement, whether payment OF cash.

collections & dispute resolution. Create point of sale infrastructure to

accept cards.

WHAT IS THE CREDIT CARD ?

A credit card is plastic money that is used topay for products and services at over 20million locations around the world. All youneed to do is produce the card and sign acharge slip to pay for your purchases. Theinstitution which issues the card makes thepayment to the outlet on your behalf; youwill pay this 'loan' back to the institution ata later date.

 

PLASTIC MONEY SPENDIING IN FOR METRO CITY IN INDIA IN 2009-10CREDIT CARD HOLDER

DelhiChennai

KolkataMumbai

0

500

1000

1500

2000

2500

3000

3500

4000

Series 1

Column1

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WHAT IS A DEBIT CARD ?

Debit cards are substitutes for cash or check payments, much the same

way that credit cards are. However, banks only issue them to you i

f you hold an account with them. When a debit card is

used to make a payment, the total amount charged is instantly reduced from your bank balance.

Don't borrow on your credit card! Here's why A debit card is only accepted at outlets with

electronic swipe-machines that can check and deduct amounts from your bank

balance online.  

PLASTIC MONEY SPENDIING IN FOR METRO CITY IN INDIA IN 2009-10DEBIT CARD HOLDER

DelhiChennai

KolkataMumbai

2700

2800

2900

3000

3100

3200

3300

3400

3500

Series 1

Column1

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TYPES OF CARDS:-

Charge cardAmex cardSmart cardPhoto cardMaster card & visaDiner club cardGlobal cardCo-branded card

WHAT IS A CHARGE CARD?

A charge card carries all the features of credit cards.However, after using a charge card you will have to payoff the entire amount billed, by the due date. If you fail todo so, you are likely to be considered a defaulter and willusually have to pay up a steep late payment charge.

When you use a credit card you are not declared adefaulter even if you miss your due date. A 2.95 per centlate payment fees (this differs from one bank to another) islevied in your next billing statement.

 

WHAT IS AN AMEX CARD?

Amex stands for American Express and is one of the well-known charge cards. This card has its own merchantestablishment tie-ups and does not depend on the networkof MasterCard or Visa.

Credit cards: Remember these dos and don'ts This card is typically meant for high-income group

categories and companies and may not be acceptable atmany outlets. There are a wide variety of special privilegesoffered to Amex cardholders.

WHAT IS THE DINERS CLUB CARD?

Diners Club is a branded charge card. There are a wide variety ofspecial privileges offered to the Diners Club cardholder. For instance,as a cardholder you can set your own spending limit. Besides, the cardhas its own merchant establishment tie-ups and does not depend on thenetwork of MasterCard or Visa.

However, since this card is typically meant for high-income groupcategories, it may not be acceptable at many outlets. It would be agood idea to check whether a member establishment does accept thecard or not in advance.

WHAT IS A GLOBAL CARD?

Global cards allow you the flexibility andconvenience of using a credit card ratherthan cash or travelers cheque whiletraveling abroad for either business orpersonal reasons.

WHAT IS A CO-BRANDED CARD?

Co-branded cards are credit cards issued by cardcompanies that have tied up with a popular brandfor the purpose of offering certain exclusivebenefits to the consumer.

A debit card with a difference For example, the Citi-Times card gives you all

thebenefits of a Citibank credit card along with aspecial discount on Times Music cassettes, freeentry to Times Music events, etc.

WHAT ARE MASTERCARD AND VISA?

MasterCard and Visa are global non-profitorganizations dedicated to promote thegrowth of the card business across theworld.

They have built a vast network of merchantestablishments so that customers world-wide may use their respective credit cardsto make various purchases.

WHAT IS A SMART CARD?

A smart card contains an electronic chip which is used to store cash. This is most useful when you have to pay for small purchases, for example bus fares and coffee.

No identification, signature or payment authorization is

required for using this card. The exact amount of purchase is deducted from the

smartcard during payment and is collected by smart card readingmachines. No change is given. Currently this product isavailable only in very developed countries like the UnitedStates and is being used only sporadically in India.

WHAT IS A PHOTO CARD?

If your photograph is imprinted on a card,then you have what is known as a photocard. Doing this helps identify the user ofthe credit card and is therefore consideredsafer. Besides, in many cases, your photocard can function as your identity card aswell.

ADVANTAGES

Offer free use of funds, provided youalways pay your balance in full, on time.2. Be more convenient to carry than cash.3. Help you establish a good credit history.4. Provide a convenient payment methodfor purchases made on the Internet and overthe telephone.5. Give you incentives, such as rewardpoints, that you can redeem

DISADVANTAGES :-

1. Cost much more than other forms ofcredit, such as a line of credit or a personalloan, if you don't pay on time.2. Damage your credit rating if yourpayments are late;3. Allow you to build up more debt thanyou can handle;4. Have complicated terms and conditions

BIBLIOGRAPHY

WWW.mcxindia.com

WWW.indiamba.com

WWW.Google.com