MCQ’s on Money and Credit for Class 10 Economics | Quiz 2

MCQ’s on Money and Credit for Class 10 Economics | Quiz 2

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MCQ's on Money and Credit for Class 10 Economics | Quiz 2

1 / 30

Which of the following is the new way of providing loans to the rural poor?

2 / 30

What we called when both parties agree to sell and buy each others commodities?

3 / 30

Which of the following can be used as collateral in Indian banks to borrow money?

4 / 30

The members of SHG take _________.

5 / 30

Who supervises the credit activities of lenders in the informal sector?

6 / 30

"If credit can be made available to the poor people on terms and conditions that are appropriate and reasonable these millions of small people with their millions of small pursuits can add up to create the biggest development wonder."
The above statement belongs to:

7 / 30

What should be done to increase formal sector loan in rural areas?

8 / 30

Banks provide a higher rate of interest on ________________.

9 / 30

The exchange of goods is done without use of money in __________.

10 / 30

(a) The main motive of these group is to pool the savings of the poor people.
(b) These groups provide loans to their members at a reasonable rate.
(c) After a year or two, if the group is regular in savings, it becomes eligible for bank loans.
(d) Most of these groups work in a democratic way.
Above statements are related to :

11 / 30

Siddhik issues a cheque of Rs 19,000 in favour of Hanush. What happens when the cheque is received and processed in Hanush's bank?
I. There is no change in their bank accounts.
II. Both their bank balances increase by Rs 19,000.
III. Siddhik's bank balance decreases by Rs 19,000 and Hanush's bank balance increases by the same amount.
IV. There is no change in Siddhik's bank balance although Hanush's bank balance sees an increase.
Based on the above statements which option is correct?

12 / 30

Money is accepted as a 'medium of exchange' because ____________

13 / 30

The full form of NABARD is:

14 / 30

What portion of deposits are kept by the banks for their day to day transaction?

15 / 30

Which is include in the Formal Sources of credit?

16 / 30

Which of the following statements are true regarding cheque payment ?
(a) The money is transferred from one bank account to another bank account in a couple of days.
(b) The transaction is complete without any payment of cash.
(c) The transaction is completely based on cash.

17 / 30

The major reason which prevents the poor from getting bank loans is ___________.

18 / 30

When were Regional Rural Banks set up?

19 / 30

The income of a bank is :

20 / 30

The major reason that prevents the poor from getting loans from the banks is ___________.

21 / 30

What is the major reason behind taking credit in rural areas?

22 / 30

Which of the following statements are correct regarding formal sector loans?
(a) The rate of interest is very low as compared to informal sector loan.
(b) Money lenders and landlords are the main source.
(c) These resources work under the supervision of the Reserve Bank of India.
(d) These do not work under any governmental organisation.

23 / 30

Since the deposits in the bank accounts can be withdrawn on demand, these deposits are called _________.

24 / 30

Banks use the major portion of the deposits to ______.

25 / 30

Surrender of notes to the bank by the government by a specific period and receive new currency notes is called ___________.

26 / 30

Which statements is / are correct regarding RBI?
(a) It supervises the functioning of formal sources of loans.
(b) It monitors that the Banks actually maintain the cash balance.
(c) It sees that the banks give loans not just to profit making businesses and traders but also to small cultivators, small scale industries etc.

27 / 30

Which of the following statements are correct?
I. Bank deposits share the essential features of money.
II. Any depositor may demand his deposit at any point of time from a bank.
III. Bank must retain all the deposits by itself.

28 / 30

Which of the following is not included in the terms of credit?

29 / 30

The currency is accepted as a medium of exchange because :

30 / 30

Which of the following state accounts for the maximum percentage of SHGs in bank credit?

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