Page 154 - DECO402_MACROECONOMIC_THEORY_PUNJABI

smStI ArQSwsqr dy isDWq

È؇ krx dI ApirvrqnSIl iviD hI pRcilq hY[ not vwsqv iv`c vwAdy pqr (Promissory Notes) huMdy hn[ modirk
AiDkwrI iehdy bdly iv`c isky jw hor not dyn dI vwAdy krdw hY[ ies iviD dy Plsvrup modirk nIiq Aqy modirk
pRbMD dw m`hqv bhuq v`D igAw hY[ hux notW ƒ jwrI krxw sony jW cWdI dy stw`k qy ivrBr nhI krdw[ notW dI purqI
jW inrDwrx modirk AiDkwrI rwhI ArQ-ivvsQw dI jrUrq ƒ iDAwn iv`c rKky kIqw jwdw hY[

(2) mMg jmwvW (Demand Deposits)
swry dySW dy lok Awpxy DMn ƒ bNYkW iv`c jmw krwdy hn[ bYNk jmwey do qrW dI huMdI hY – (i) insicqkwlIn
jmwey Aqy (ii) mMg jW cwlU jmwey[inSicqkwlIn jmwvW iek insicq smy dy leI huMdI hY[ ien jmwvW ƒ cyk
rwhI inklvwieAw nhI jw skdw[ pr mMg jmwvW dI rwSI ƒ jmwkrqw rwhI kdy vI inklvwieAw jw skdw
hY[ iesleI mMg jmw dy rup iv`c rwsI aunI hI qrl huMdI hY ijnI mudrw[ p`Cm dy dySW iv`c 90% Bugqn bYkW
rwhI kIqy jWdy hn[ Bwrq iv`c vI mMg jW cwlU jmW dw m`hqv inrNqr v`Ddw jw irhw hY[
cwlU jW mMg jmw Kwqy iv`c cyk rwhI Bugqwn krxw bhuq suriK`Aq Aqy suivDwjnk hY[ cyk rwhI Bugqwn ies
kwrx suibDwjnk hY ikauik cykW rwhI jmw rwSI dI iknI vI rkm inklvweI jw skdI hY[ auc mu`l vwly notW dw
pRXog AsuriKAq ho skdw hY[ cyk rwhI Bugqwn dw bYkW dy kol sbUq hMudw hY ikauik auhnW ƒ bYNk dy KwiqAw iv`c
drj kIqw jwdW hY[ jykr Bugqwn sMbDI koeI ivvd pYdW ho jwvy qW jWc rwhI iesdW inptwrw ho skdw hY[
kynj ny ApxI pusqk “A Treatise on Money” (1930) iv`c mudrw dI purqI dy mMg jmwau ƒ vI Swml kIqw
hY[aus vyly, pwrkr ivls (Parker Wills) vrgy ArQ-SwSqirAW ny ies qy Awpiq aTweI sI[ pr vrqmwn
smy iv`c lgBg swry dysW iv`c mMg jmwvW ƒ mudrw dI purqI iv`c Swml kIqw jwx ligAw hY ikauik vsqUAW
Aqy syvwvW ƒ mMg jmwvW rwhI vI KiridAw jw skdw hY[ pr ieh g`l aulyKnIA hY ik cyk rwhI Bugqwn ƒ lYxw
vI kwnunI qor qy AinvwrX nhI hY[ koeI vI ivAwkqI cyk lyx qo ienkwr kr skdw hY[ pr mudrw dy rup iv`c
Bugqwn krxw iek kwnUnI AinvwrXqw hY[

bYNk Awpxy kol jmw krweI geI mudrw dy AwDwr qy auDwr iddy hn[ Awpxy AnuBv qo bYNkW ƒ ies g`l dw pqw
huMdw hY ik swry jmwkrqw iek hI vyly AwpxI kul jmwey nhI kfwxgy[ iesleI jykr auh kul jmwau dw iek
insicq Anupwq Apxy kol nkd rKly qW SyS rwiS krj dy rup iv`c dy dyvy qW auh jmwkrqWa dI jrUrqW ƒ
purw kr skdy hn[ iehI kwrx hY ik bYNk ies siQqI iv`c huMdy hn ik ijnI kul jmW rwiSAW auhnW dy kol
hodI hY ausqo keI guxw ijAwdW auh lokW ƒ auDwr dy skdy hn[ bYkW dI ies kirAW ƒ swK inrmx (Credit
Creation) ikhw jwdw hY[ bYNkW rwhI inrimq swK ƒ vI mudrw dI purqI iv`c Swml kIqw jwdw hY[ ikauik ieh
mMg jmW dw iek ihsw huMdI hY[

’∆ Âπ√ƒ ‹≈‰Á∂ ‘Ø cln iv`c kryNsI jW mMg jmw dy Alwvw mudrw purqI dy bcq Aqy msy jmw
Swml hoxI cwihey[

√ÚÀ ÓπÒª’‰ (Self Assessment)
bhuivklpIAw pRSn (Multiple Choice Questions):
3. mudrw iv`c aun swirAW vsqUAW ƒ Swml kIqw jwxw cwieey jyVw auhnW dy njidk ………… hY[
(a) pRiqsQwpn (A) sQwpn
(e) nhI hY (s) iedy iv`co koeI nhI[
4. mudrw purqI dy do Gtk hn -
(a) kryNsI Aqy bYNk jmwvW (A) DMn jW sMpiq
(e) Gr Aqy dukwx (s) iedy iv`co koeI nhI[

148 LOVELY PROFESSIONAL UNIVERSITY