(a) The institution that enjoys the monopoly of note issue in India is RBI (Reserve Bank of India). It is the central bank of India. 

Qualitative Methods of Credit Control— 

1. Credit Rationing—The RBI may also specify a ceiling limit on the maximum level of credit which can be given on the stocks of selected commodities to limit the quantum of credit given to a specific industry or sector of economy. For example—The RBI may prescribe the limit for food credit for each year. This will ensure that excess credit will not flow to this sector of economy. 

2. Moral Suasion—Suasion means to persuade, so it is a method of request and advice to the commercial banks by the central bank. Central bank requests the commercial banks not tdgrant credit for speculative and non essential activities. Since, the ‘central bank’ is the symbol of financial authority and sovereignty, the commercial banks honour such requests. This method proves very effective under normal conditions of market and economy. 

(b) “Any exertion of mind or body undergone partly or wholly with a view to some good other than the pleasure derived directly from the work is called labour.” 

Characteristics of Labour— 

1. The Labourer sells his services (Labour) only—A labourer (worker) sells his services only and not himself. A labourer may or may not agree to do a work. The ‘labour’ factor comes into consideration when he agrees to offer his services on certain terms and conditions. 

2. Labour is highly perishable—If a labourer does not work for a day, his one da^s output will be lost forever. As such the labourer (worker) agrees to work even at a low wage when he feels that his labour is likely to be wasted. Because of this peculiarity, the labourer does not have the same bargaining power similar to his employer. 

3. Human factor—Labour is human factor. Hence, several human considerations are to be kept in mind while dealing with the labour, such as moral considerations, ethical considerations, devotion, motivation (including incentives), family background etc. 

4. Labour is less mobile—The mobility of labour is not so easy. Even the most remunerative employment opportunities do not attract many trained personnel from other countries. This is due to the labourers sentimental attachments to his home and surroundings. The problems of language, differences in living habits and social customs, etc. are some other important factors affecting mobility of labour.