RBI
Finance Ministry
President
Planning Commission
high price level
large money supply
high production
high interest rate
under-er-employment
inflation
non-monetised consumption
low saving
investment
production
sales proceeds
incomes
People can undertake exchange without using money
The only function of money is to be a medium of exchange
One problem with coins that included valuable metals was that rulers might replace them with debased coins and so cause inflation
From 1719-1931 it was generally possible to exchange Bank of England notes for gold at a stable rate