NOTES FOR THE TEACHER · Part 2

corruption. Students could be asked to debate on the process and the impact of demonetisation. They can be guided to make a collage of the major areas where people use digital and cash transactions which are legitimate and legal. They can also discuss the transactions which are legal and why. It is also important to intimate students that different types of plastic cards are used in place of cash transactions but not all of them money per se . Credit is a crucial element in economic life and it is, therefore, important to first understand this in a conceptual manner. What are the aspects that one looks at in any credit arrangement and how this affects people is the main focus of the second part of the chapter. The world around us offers a tremendous variety of such arrangements and it would be ideal to explain these aspects of credit from situations that are familiar to your students. The other crucial issue of credit is its availability to all, especially the poor, and on reasonable terms. We need to emphasise that this is a right of the people and without which a large section of them would be kept out of the development process. There are many innovative interventions, such as that of Grameen Bank, of which students may be made familiar with but it is important to realise that we don’t have answers to all questions. We need to find new ways and this is one of the social challenges that developing countries face. Sources for Information The data on formal and informal sector credit used in this chapter is drawn from the survey on rural debt by the National Sample Survey Organisation (All India Debt and Investment Survey, t h Round , conducted by NSSO) now known as National Statistical Office (NSO) . The information and data on Grameen Bank is taken from newspaper reports and websites. In order to get the details of bank-related statistics or a particular detail of a bank, you can log on to the websites of the Reserve Bank of India (