Money and banking bingo

Exercise and reference answers

Clues and terms

1. Clue

   Exchanging goods for goods, no money in between

   Item

   Barter

2. Clue

   Notes and coins without intrinsic value of their own

   Item

   Fiat money

3. Clue

   No citizen can refuse it to settle a transaction

   Item

   Legal tender

4. Clue

   Share of deposits a bank must keep as cash reserves

   Item

   CRR

5. Clue

   Share of deposits banks keep in liquid form short term

   Item

   SLR

6. Clue

   Rate the RBI charges when it lends against securities

   Item

   Repo rate

7. Clue

   The RBI's role as the final lender to stressed banks

   Item

   Last resort

8. Clue

   RBI buying and selling government bonds in the open market

   Item

   OMO

9. Clue

   How one rupee of reserves supports many rupees of money

   Item

   Multiplier

Instructions

Read each call, tap its concept. Three in a line wins.

Explanation