In India, money is revered by many people not only in religion but also in other fields. In terms of religion the god of money, Kubera who is also known as the treasurer of the gods is revered due to his lineage of a Yaksha which are not entirely gods but semi-divine in their natures, he is generally depicted with a plump body carrying a club with jewellers and a pot containing money. He is mainly worshipped along with Goddess Lakshmi who is considered as the source of all good things including money on the eve of Dhanteras, this day is considered auspicious for purchase of precious metals and stones like gold, silver, diamond etc. So honor the gods by giving precious gifts to your loved ones with buy online dhanteras gift or order online gifts for dhanteras and spread the message of your goodwill by purchasing preciousness in your life.
As defined in the dictionary the term money refers to any item which is accepted as payment for goods, services and repayment of debts in a country or an economy based society, it can be easily converted to many forms including gold, bonds, agreements, real estate etc. Money functions in distinguished ways as: a medium of exchange or a store of value or a unit of account and, sometimes, it’s a standard of deferred payment. Any item or verifiable record fulfilling these functions may be considered as money. In history money is considered as an emergent market phenomenon which established a commodity money, but almost all of the contemporary money systems are based on fiat money. Fiat money is like a note of debt or any check, it is without vital use as the value of a physical commodity. The money supply of a country may include the amount of currency which includes banknotes and coins and it depends on the definition used, there can be one or more types of bank money which may include the balances held in accounts may it be savings accounts or current accounts or something similar and other types of bank accounts. Bank money only consists of records which are mostly computerized in this age of modern banking, this forms the largest part of broad money which is mainly available in developed countries.
If we go towards the history of money, the use of barter-system or similar methods can be tracked back to around 100,000 years ago, there’s no evidence found which proves any society or economy that may have relied primarily on barter. Many non-monetary societies existed and operated in the past which followed the principles of gift economy and debt. Barter mainly occured, between complete strangers or potential enemies primarily in the early ages. Paper money or banknotes were used firstly in China during the age of Song Dynasty, these banknotes were called as “jiaozi” and they evolved from promissory notes which were being used since the 7th century. They never displaced commodity money, and it was used alongside coins. During the 13th century, paper money camto Europe through travellers and their tales, these travellers may include personalities such as Marco Polo and William of Rubruck.