Representative money is an item such as a token or piece of paper that has no intrinsic value but can be exchanged on demand for a commodity that does have intrinsic value, such as gold, silver, copper,...
Hence, a Check is an example of representative money.
IDBI Bank has launched 'Project Nishchay' in partnership with The Boston Consulting Group (BCG) to accelerate its turnaround programme and improve financial performance.
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