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Uttarakhand Board Class 10 C10moneycredit — practice questions

Explore 4 free C10moneycredit questions in Uttarakhand Board Class 10 Social Science. Open each question or exercise to read its content, reference answers and available explanation.

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C10moneycredit questions and exercises with answers

Showing questions 1–4 of 4.

In India, the authority that issues currency notes and coins is the:Read the answer and worked solution →Banks make their profit primarily from:Read the answer and worked solution →Which of the following is a FORMAL source of credit?Read the answer and worked solution →The role of the RBI in the formal credit market includes:Read the answer and worked solution →

Worked practice questions

In India, the authority that issues currency notes and coins is the:

  1. Ministry of Finance, Government of India
  2. State Bank of India and other public banks
  3. Reserve Bank of India (RBI)
  4. All commercial banks together as a consortium
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Correct answer: C. Reserve Bank of India (RBI)

The Reserve Bank of India (RBI) is the sole authority issuing currency notes and coins in India. Rupees are legal tender; no one can refuse them in payment.

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Banks make their profit primarily from:

  1. Government grants given to every bank annually
  2. Service charges levied on each transaction made
  3. Foreign exchange trading on currency markets
  4. The spread between loan interest and deposit interest
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Correct answer: D. The spread between loan interest and deposit interest

Banks accept deposits at low interest and lend at higher interest. The difference (SPREAD) is their profit. The other options are secondary or not the main source.

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Which of the following is a FORMAL source of credit?

  1. The village moneylender who lends to neighbours
  2. An employer giving an advance to a labourer
  3. Commercial banks regulated by the RBI
  4. A trader giving credit at his own shop counter
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Correct answer: C. Commercial banks regulated by the RBI

Formal sources of credit are regulated by RBI: commercial banks, cooperative banks. Moneylenders, traders, employers, and family/friends are INFORMAL sources, unregulated.

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Nationalism in IndiaPower SharingFederalismResources and DevelopmentConstitution of IndiaConstitution StructurePolitical TheoryRise of Nationalism in Europe