Question

Distinguish between standard money and bank money.

Answer 1

Standard money	Bank money
Standard money is defined as a monetary unit (e.g., Rupee is case of India) declared by a government which serves as the basis of currency system of a country.	Bank money, on the other hand, refers to demand deposits with commercial banks which are payable on demand.
Standard money is legal tender money.	Bank money is non-legal tender money.