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Test: Money & Credit- 2


20 Questions MCQ Test Indian Economy for UPSC CSE | Test: Money & Credit- 2


Description
This mock test of Test: Money & Credit- 2 for Class 10 helps you for every Class 10 entrance exam. This contains 20 Multiple Choice Questions for Class 10 Test: Money & Credit- 2 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Money & Credit- 2 quiz give you a good mix of easy questions and tough questions. Class 10 students definitely take this Test: Money & Credit- 2 exercise for a better result in the exam. You can find other Test: Money & Credit- 2 extra questions, long questions & short questions for Class 10 on EduRev as well by searching above.
QUESTION: 1

Assertion : SHG is a formal source of credit.
Reason : It helps the borrower to overcome the problem of lack of collateral.

Solution:
QUESTION: 2

Organised credit is also called

Solution:
QUESTION: 3

In which of the following systems exchange of goods is done without use of money?

Solution:
QUESTION: 4

Which one of the following is not a modem form of money?
Solution:
QUESTION: 5

Assertion : The rupee is widely accepted as a medium of exchange in India.
Reason: It is authorised by the government of the country.
Solution:
QUESTION: 6

Bank laying down norms for bank is
Solution:
QUESTION: 7

Banks.provide a higher rate of interest on which of the following accounts?
Solution:

Fixed deposits for long period means that the bank would be able to use the money for more profit and thus would give a higher rate of interest.

QUESTION: 8

Which institution in India issues currency notes ?
Solution:
QUESTION: 9

Assertion: The credit activities of the informal sector should be discouraged.
Reason: Getting a loan from a bank is much more difficult than taking a loan from the informal resources.
Solution:
QUESTION: 10

In agricultural stage grains were used a
Solution:
QUESTION: 11

Banks use the major portion of the deposits to:
Solution:
QUESTION: 12

How do people hold money with banks ?
Solution:
QUESTION: 13

Assertion: The RBI supervises the functioning of formal sources loans in India.
Reason: RBI is authorised to issue currency notes.
Solution:
QUESTION: 14

An example of cooperative society can be of
Solution:
QUESTION: 15

How much deposits is kept as cash by the banks ?
Solution:
QUESTION: 16

Which of the following is True with reference to money
(i) It acts as medium of exchange.
(ii) It includes paper notes, coins and demand deposits
Solution:
QUESTION: 17

Chit funds come under
Solution:
QUESTION: 18

 In India, .......................... issues currency notes on behalf of the Central Government
Solution:
QUESTION: 19

Percentage of formal sector in total credit in India in poor household is
Solution:
QUESTION: 20

Which of the following is not a feature of SHG ?
(i) They are controlled by the RBI.
(ii) The group charges no rate of interest from its members.
(iii) After a year or two, if the group is regular in savings, it becomes eligible for availing loan from the bank.
(iv) Most of the important decisions regarding the savings and loan activities are taken by the group members.
Solution:

Features of SHG :

(iii) After a year or two, if the group is regular in savings, it becomes eligible for availing loan from the bank.

(iv) In a SHG (Self Help Group) important decisions in regard to loan and savings are taken by group members.

  • Self Help Groups issue loans at reasonable rate of interest.
  • SHG is a mutual help group who provide support among themselves.
  • They come together to solve their economic issues and earn income.

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