Across
- 1. a financial institution whose demand deposit are accepted as money for making payment and has the power of creating money.
- 4. an organisation of person that lends money
- 6. it refers to a situation when a borrower keeps on taking loans to repay previous loans and the cycle continues.
- 8. money paid regularly at a particular rate for the use of money lent delaying repayment of debt.
- 9. an asset that the borrower owns, and uses this as a guarantee to a lender until loan is repaid.
- 10. it is an instrument instructing a bank to pay a specific amount to a person in whose name the cheque has been issue.
Down
- 1. it is a system in which exchange of goods is done without the use of money.
- 2. it is the part of an economy that is neither text nor monitor by any form of government.
- 3. it is a situation where a borrower takes product or service without paying it, with the promise to pay later
- 5. modern forms of money.
- 7. a sum of money paid to the bank.