MCQ quiz on Money and Banking in India Class 12 multiple choice questions and answers on Money and Banking MCQ questions on Money and Banking in India Class 12 objectives questions with answer test pdf for interview preparations, freshers jobs and co Page 5 (c) Credit Money, Metal Money, Paper Money a) Custodian of cash reserve b) Bank of issue c) Banker’s bank d) Controller of credit. What happens when central bank decreases bank rate? Which was the second bank in India with limited liability? (d) Locker Facility, Question 20. Do tests many times and check your score and download certificate.Doing mock online tests will help you to check your understanding and identify areas of improvement. (b) 1981 45. The static and dynamic function of money is divided by……………….. 1. Reserve Bank of India cannot become the owner of any real estate. (a) Grameen Bank (b) Reserve Bank (c) Cooperative Bank (d) None of these. CBSE Papers, Questions, Answers, MCQ ... Blog provides NCERT solutions, CBSE, NTSE, Olympiad study material, model test papers, important Questions and Answers asked in CBSE examinations. Central bank controls credit through : 31. Which of the following is not a bank? SSC MCQ Question Ans. By supply of money we mean : Which of the following is not a function of money ? Finance and Business Finance 2. 2. (c) A.T.M. In an economy which consists of only one individual, there cannot be any exchange of commodities, and hence, there is no role for money. 26. Reserve Bank of India provides loan to public. By managing the responsibility of public debt, central bank acts as, 55. What is the Central Bank of India: a) Representative money b) Credit money c) Full bodied money d) Legal tender money. (c) Prof. Thomas Register for Online tuition on Vedantu.com to score more marks in CBSE board examination. Which of the following is a qualitative method of credit control ? (c) Store of Value (b) Ownership of the Government Higher Order Thinking Skills (HOTS) download and print. (d) All the above, Question 2. Ans. What happens when central bank purchases securities in open market? Why do banks only keep a fraction of deposits? Answers to Money and Banking Class 12 MCQ with Answers are available at the end of the last question. a) Repo rate b) Bank rate c) Reverse repo rate d) LRR. The central bank acts as the last help to commercial banks or public. (c) Open Market Operations 24, and that of a pair of jeans is Rs. Which function is the Secondary Function of Commercial Banks ? 1. a) Barter system 2. c) Money 3. d) All of the above 4. a) Money 5. d) All of the above 6. a) Stock 7. b) Medium of exchange 8. b) Measure of value 9. d) Standard of deferred payments 10. a) Stock 11. b) M0 12. b) It includes money held by banks 13. a) M1 14. d) M4 15. a) Narrow money supply 16. b) Broad money supply 17. d) Both (a) and (b) 18. c) Demand deposits with banks 19. d) All of the above 20. a) M3 = M1 + Net time deposits with banks 21. b) Demand deposits with banks 22. a) Legal tender money 23. c) Optional money 24. b) Full bodied money 25. c) Representative money 26. b) Credit money 27. a) RBI 28. c) Minimum reserve system 29. a) RBI 30. d) Ministry of Finance 31. c) Union Bank 32. d) None of the above 33. a) Spread 34. c) LRR 35. c) Both (a) and (b) 36. c) 5 37. c) 400000 38. b) Total deposits = Initial deposits Money multiplier 39. c) Both (a) and (b) 40. b) Earning profit 41. c) LIC 42. c) 10 43. b) They do not accept deposits 44. a) Accept deposits 45. c) Central Banks 46. d) All of the above 47. a) RBI 48. d) Federal Reserve System 49. a) Bank of issue 50. b) Bank of issue 51. d) All of the above 52. d) All of the above 53. a) Banker 54. b) Agent 55. c) Financial advisor 56. c) Banker’s bank 57. b) Custodian of foreign exchange 58. a) Custodian of cash reserve 59. d) Lender of last resort 60. a) Repo rate 61. b) Bank rate 62. c) Reverse repo rate 63. a) CRR 64. b) SLR 65. b) Margin 66. a) Money supply increases 67. b) Money supply decreases 68. a) Money supply increases 69. b) Money supply decreases 70. b) Money supply decreases 71. b) Money supply decreases 72. a) Money supply increases 73. b) Money supply decreases 74. a) Money supply increases 75. b) Money supply decreases. Which of the following is the least liquid form of money supply? (c) Bank rate is the discount rate of the Central Bank Money and Banking Class 12 MCQ with Answers, Unit Number 319, Vipul Trade Centre, Sohna Road, Gurgaon, Sector 49, Gurugram, Haryana 122018, India, Monday – Friday (9:00 a.m. – 6:00 p.m. PST) Saturday, Sunday (Closed). (d) Keynes, Question 6. (d) All of these, Question 17. (a) Money deposited in bank Along with the Reserve Bank of India, Commercial banks are also authorized to issue currency. Which of the following is an advantage of bank of issue? (c) used to store wealth 70. (a) Lack of Double Coincidence Important Questions for Class 12 Economics are prepared by the subject matter experts from the latest edition of CBSE books. (a) Cash Credit The best app for CBSE students now provides accounting for partnership firm’s fundamentals class 12 Notes latest chapter wise notes for quick preparation of CBSE board exams and school based annual examinations. If initial deposits are Rs. Q. (d) None of these, Question 22. a) Initial deposits = Total deposits Money multiplier b) Total deposits = Initial deposits Money multiplier c) Total deposits = Initial deposits Money multiplier d) Initial deposits = Total deposits LRR. (a) Verma Committee (d) All of these, Question 45. (b) Narsimham Committee Question 52. Which function removes the problem of double coincidence of wants? 2 and more denominations currency notes and coins? Answers to Economics Objective Questions are available at the end of the last question. Broad Money refers to _____: (a) M 1 (b) M 2 (c) M 3 (d) M 4. Sources of Finance 3. Function of money is: (b) Robertson (d) Store of Value, Question 7. (c) 1997 (c) Both (a) and (b) Monetary policy is related with : 7. 20. Which of the following is not a function of central bank? 1 denominations currency notes and coins? (d) All the above, Question 3. 44. Which of the following is not a measure of money supply? (iii) … (a) Reserve Bank of India Define banking. What is the amount which commercial banks are required to keep with central bank compulsorily? MCQ model questions answers of Basic Banking Knowledge for various competitive questions. Ans: The main function of money in an economic system is to facilitate the exchange of goods and services. (a) Bank rate (b) State Bank of India Which of the following are not included in high powered money? (d) All of these, Question 11. SSC MCQ Question Ans. Get chapterwise CBSE Class 12 Macro Economics NCERT Books PDF online. a) SBI b) Private Banks c) Central Banks d) None of the above, a) Regulates the banking system b) Operates the monetary system c) Controls the banking system d) All of the above, a) RBI b) World Bank c) Union Bank d) Federal Reserve System. Which is the major objective of credit control ? 38. Q.1 What is the main function of money in an economy? Instruments of Money Market Finance Markets (MCQs) CH 11: Marketing (VSQ) CH 11: Marketing vs Selling ... Banking - Important Banking Concepts Chapter 4: Production Function (Very Short Question Answers) ... Class 12 Phy. Money is matter which is: (a) Cash Reserve Ratio (b) Measure of Value CBSE class 12 Money and Banking class 12 Notes Economics in PDF are available for free download in myCBSEguide mobile app. If LRR is 20%, what is the money multiplier? What happens when central bank increases repo rate? (b) Commodity Money, Metal Money, Paper Money, Credit Money (i) Current deposit. 61. (c) Verma Committee (a) January 22, 1993 The system in which trade can be done by exchange of goods and services is, a) Barter system b) Monetary system c) Goods system d) None of the above. What are the necessary conditions of Barter System ? 3. Check the below NCERT MCQ Questions for Class 12 Economics Chapter 9 Money and Banking with Answers Pdf free download. All rights reserved. What is the rate at which central bank gives loan to commercial bank without collateral? (c) Cash x CRR We have provided Financial Markets Class 12 Business Studies MCQs Questions with Answers to help students understand the concept very well. 42. a) Money supply increases b) Money supply decreases c) No effect on money supply d) None of the above. (b) Taxes (d) Bank of India, Question 28. Banking sector Reforms in India began in : at TopperLearning.. Money is the commonly accepted medium of exchange. What are the advantages of Barter System ? The functions of money includes: (c) Credit Creation Confirming bank C. Issuing bank D. Paying bank E. None of these Which function is being highlighted here? Which of the following is the most liquid form of money supply? 12. Calculate LRR, if the initial deposit of ₹. (adsbygoogle = window.adsbygoogle || []).push({}); 4. (d) All the above, Question 27. Wishing to crack the MCQs sections in the board examinations, then you should practice & prepare all concepts thoroughly to attempt objective type … (d) None of these, Question 21. (d) Planning Comission, Question 41. Money and Credit Answers for Multiple Choice Questions. (c) Price stability (d) Hawtrey, Question 9. (b) Hawtrey 36. (d) LIC of India, Question 49. What is Central Bank of India ? (b) Banking Reforms a) Currency held by public b) Cash reserves held by banks c) Demand deposits with banks d) None of the above, a) Currency held by public b) Demand deposits with commercial banks c) Other deposits with RBI d) All of the above, a) M3 = M1 + Net time deposits with banks b) M3 = M2 + savings with post office c) M3 = M2 + net time deposits with bank d) M2 = M3 + currency held with banks, a) All deposits with banks b) Demand deposits with banks c) Other deposits with commercial banks d) All of the above, 22. XYZ shopping centre has a half- price sale. India follows which system for issuing currency? Which function is highlighted here? A T-shirt which originally costs Rs. (d) All the above, Question 32. Which is the Agency Function of Commercial Banks ? (a) To make Deferred Payments 9. Money and Banking Class 12 MCQ with Answers (Multiple choice questions) - CBSE Economics chapter wise MCQ questions (Macroeconomics) 11. 4. (a) Raja Chelliah Committee SSC MCQ Question Ans. (c) Accept deposits from customers (d) None of the above, Question 15. (c) 2. 10. (c) 1937 14 big scheduled commercial banks in India were nationalised in: a) All depositors do not withdraw at the same time b) There is constant flow of deposits in economy c) Both (a) and (b) d) None of the above, 40. (b) 1995 ... Chapter 3: Money and Banking. 49. (a) 1969 Which function is highlighted here? a) It includes money held by public b) It includes money held by banks c) It is a stock concept d) All of the above. Free Online Mock Test for CBSE Class 12 Economics for important topics of all chapters in CBSE Class 12 Economics book. 1. (a) Medium of exchange What happens when central bank sale securities in open market? (b) 1991 Which function allows the payment to be delayed till future date? (a) Currency a) 1913 b) 1917 c) 1894 d) 1881 View Answer / Hide Answer. Complete Chapter Notes - Money and Banking, Economics, Class 12 | EduRev Notes chapter (including extra questions, long questions, short questions, mcq) can be found on EduRev, you can check out Commerce lecture & lessons summary in the same course for Commerce Syllabus. Which of the following is an apex body in India? (d) All of these, Question 18. (a) Improvement in Taxation 66. (b) Harte Which of the following issue paper currency in the country ? 37. The full form of ATM is: This document is highly rated by Commerce students and has been viewed 1303 times. Which of the following is the function of money? For revival and restructure of weak banks of public sector, which committee was constituted ? Jan 12, 2021 - MCQs - Money Commerce Notes | EduRev is made by best teachers of Commerce. The major objectives of monetary policy is/are : a) Accept deposits b) Custodian of foreign exchange c) Bank of issue d) Supervision. (c) Commerical Banks (b) Money available with the public The CBSE Class 12 Commerce Multiple Choice Questions (MCQs) of Economics at TopperLearning help students solve MCQs from the subject Economics. (c) Both (a) and (b) (b) Store of Value Money and Banking Class 12 MCQ with Answers (Multiple choice questions). a) RBI b) Government c) Commercial banks d) Ministry of Finance. SSC Finance and Banking MCQ Question With Answer 2021: 1. MONEY AND BANKING. (c) Agriculture Reforms Ans. MCQ quiz on Money and Banking in India Class 12 multiple choice questions and answers on Money and Banking MCQ questions on Money and Banking in India Class 12 objectives questions with answer test pdf for interview preparations, freshers jobs and competitive exams. Edu. (c) Marshall Money and Banking Class 12 MCQ with Answers (Multiple choice questions), 1. In which year the second Narsimham Committee was constituted ? (a) Advancing Loans MCQ Questions for Class 12 Economics with Answers were prepared based on the latest exam pattern. (d) All of these, Question 13. 62. (b) More Mutual Co-operation (c) Y.V. ANSWER: d) 1881 Oudh Commercial Bank, the first bank with limited liability managed by Indians, was founded in 1881. What happens when central bank increases SLR? 30. Who issues Rs. “Money is a pivot around which the whole economy clusters.” Who said it ? (b) accepted as a means of exchange (c) World Bank a) State bank of India b) Punjab National Bank c) Union Bank d) Canara Bank. (c) Unit Trust of India (a) Agency Function (c) No Economic Disparities (d) Only (b) and (c), Question 26. a) Limited legal tender money b) Unlimited legal tender money c) Optional money d) None of the above, 24. 7. (d) All of these, Question 8. (ii) Fixed deposit. ... CBSE Class 12/NTSE - Macroeconomics - Money and Banking - Inflation Related Terms (#cbseNotes) Inflation Related Terms. (a) Commercial Bank (b) All Time Money (a) \(\frac{1}{\mathrm{CRR}}\) (d) Infrastructure Reforms, Question 42. a) Custodian of cash reserve b) Custodian of foreign exchange c) Clearing house function d) Bank of issue. Historically, the Indian rupee was a ____ coin: a) Copper. What happens when central bank increases reverse repo rate? (b) Goiporia Committee 71. (b) Banker of the Government MCQs with answers on Banking in India - Part I 1. (b) Co-operative Banks (d) All the above, Question 29. Reserve Bank of India was established in : (a) All Scheduled Banks The difference between two interest rates is called: a) Spread b) Margin c) Profit d) None of the above, 34. Free PDF Download of CBSE Class 10 Social Science Economics Chapter 3 Money and Credit Multiple Choice Questions with Answers. 4. Money is needed for day-to-day transactions. (b) Cash available with public (c) Provide loans to customers Banking Ombudsman Scheme was announced in the year : The MCQs of Economics cover all the chapters and topics, giving students maximum exposure to each topic of Economics. Which committee was constituted for suggesting consumer service improvements in banks ? Which of the following is the function of Central Bank ? a) Goods b) Banks c) Money d) All of the above. RBI has the sole authority to issue currency in India. MCQ Questions for Class 12 Economics with Answers were prepared based on the latest exam pattern. (c) Automated Teller Machine We have provided Money and Banking Class 12 Economics MCQs Questions with Answers to help students understand the concept very well. Check the below NCERT MCQ Questions for Class 12 Economics Chapter 9 Money and Banking with Answers Pdf free download. Which of the following equation is true? (d) 2001, Question 50. (d) Change in CRR, Question 33. (c) Improvement in Agriculture 63. Question 53. (a) To maintain Price Stability Here, we have provided the latest CBSE Class 1 to 12 MCQ Questions with Answers for all subjects to ace up your final examinations. What is the rate at which commercial banks keep their reserves with central banks? Studying these would definitely help the students to score good marks in their upcoming board examinations. Time Value of Money 4. myCBSEguide has just released Chapter Wise Question Answers for class 12 Economics. (d) Life Insurance Company of India. Meaning of money supply is: (c) Time Deposits Given that the original price of a bag is Rs. There chapter wise Practice Questions with complete solutions are available for download in myCBSEguide website and mobile app. (c) Private Bank 64. By carrying out all the banking activities , central bank acts as, a) Banker b) Agent c) Financial advisor d) None of the above, 54. (c) Public Debt Here, we are sharing very important “ Banking Laws Solved MCQs”. Business Studies MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. (b) Price stability What are the necessary conditions of Barter System ? Commercial banks: (a) Commercial Bank (b) Rises CBSE Class 12 Economics HOTs Money and Banking. 57. What is the name of money which is usually made of paper? (b) Accepts deposits from customers When CRR decreases, credit creation……………….. 5. By advising the government from time to time, central bank acts as a. MCQ Questions for Class 12 Business Studies with Answers were prepared based on the latest exam pattern. (b) Statutory Liquidity Ratio “Money is what money does.” Who said it ? We hope the given NCERT MCQ Questions for Class 12 Economics Chapter 9 Money and Banking with Answers Pdf free download will help you. (b) Limited Exchange Area Advising bank B. … (c) Means of exchange (a) Medium of Exchange Which function is highlighted here? (a) Limited Needs Which was included in the purview of Banking Ombudsman Scheme ? a) They do not advance loans b) They do not accept deposits c) They neither accept deposits nor advance loans d) None of the above. (b) Credit Money (c) Loan and Advance These MCQs will also help students find topics that may have been missed while studying. 6. Banking Knowledge Basic MCQ Question Answer Objective Model Paper Practice Set . Question 56. Central bank maintains the reserve of foreign exchange so that when price rises, the central bank can give the reserve to public. What is the other name of money whose intrinsic value is much lower than its face value? What happens when central bank increases margin? (d) All the above, Question 10. (a) Commercial Bank Access full series of free online mock tests with answers from Economics Class 12. Which one is the Bank of the Public ? 65. Which function considers the value of the money in one unit? (d) 1998, Question 43. (b) To stabilize Exchange Rate 10 is now available for Rs. 60. a) Banker to government b) Banks of issue c) Banker’s bank d) Supervision. What is the thing which is generally accepted by everyone as a medum of exchange? 56. Question 55. Through which method we can withdraw money from the bank: a) Narrow money supply b) Broad money supply c) Broken money supply d) None of the above, a) RBI b) Government c) Commercial banks d) Both (a) and (b). (a) Reserve Bank of India (b) March 15, 1995 (b) Measure of Value The precautionary demand for money increases with the proportionate increase in income. Every bank is required to maintain a fixed percentage of its assets in the form of cash is called : (c) Deposits with post office savings bank (a) Any Time Money Commercial banks are required to keep an amount with central bank called CRR. Students can solve NCERT Class 12 Business Studies Financial Market MCQs Pdf with Answers to know their preparation level. (d) Unit of account, Question 14. (a) Commercial Banks (a) Pulie Expenditure (b) General Utility Function (a) Reserve Bank of India What type of loan is advanced by Commercial Banks ? 39. What is a scheduled bank? What is the difference between amount of loan and market value of securities called? Measure of deferred payment is ……………….. function of money. a) Custodian of cash reserve b) Custodian of foreign exchange c) Bank of issue d) Clearing house function. (b) Bank rate and interest rates are different a) Accepting deposits b) Advancing loans c) Both (a) and (b) d) None of the above. 5. (b) Store of value (b) Overdraft 23. Q. Which is the correct order of money evolution ? a) Medium of exchange b) Measure of value c) Store of value d) Standard of deferred payments. 11. (d) Variation in bank rate, Answer: (b) Restriction on consumer credit, Question 39. 41. a) Custodian of cash reserve b) Custodian of foreign exchange c) Banker’s bank d) Lender of last resort. 74. Which is not a quantitative method of credit control ? 50. Which one is included in the primary function of money ? a) Foreign exchange system b) Paper currency system c) Minimum reserve system d) None of the above. (a) Hartley Withers Who is the custodian of Indian Banking system ? (b) Goiporia Committee (c) Savings in the post office (c) Lack of General Acceptable Measure of Value 8. Narasimham Committee is related to what: Oudh Commercial Bank was founded in _____. (b) Loaning to other banks 2. 12. (c) Rekhi Committee (a) Bank rate is an rate at which Central Bank is ready to give credit to commercial banks (c) 1997 (a) Apex Bank of the Country (d) All of the above. a) Measure of value b) Medium of exchange c) Store of value d) None of the above. Being the apex bank, the central bank maintains the same relation with the commercial banks as the latter maintains with the public. 73. What happens when central bank increases bank rate? (c) Central Bank of India The main function of commercial bank is : (d) None of the above, Question 34. Question 57. (a) Bank Rate RBI announced the guidelines to issue liceness to new banks of private sector on : (d) All of these, Question 16. Central Bank of India is : Finance and Banking CQ Suggestion and Question Patterns of SSC Examination 2021. What are the advantages of Barter System ? (d) All of these, Question 40. Which one is included in the secondary function of money ? 59. (d) Industrial Bank, Question 37. What happens when central bank decreases CRR? (d) All of these, Question 30. (c) Both (a) and (b) (b) Measure of value 14. (c) Unit Trust of India (a) 1990 a) PNB b) SBI c) LIC d) None of the above. Money and Banking Class 12 MCQs Questions with Answers Question 1. (a) Credit control What is meant by double coincidence of wants? Which is associated with reforms in the banking sector ? (c) Act as Trustee Questions ), 1 view Answer / Hide Answer with themselves compulsorily 12 Commerce Choice! With Reforms in the country the precautionary demand for money increases with the public Credit?! ) Thomas ( d ) All of these, Question 9 10 %, what is the function of which... Lender of last resort responsibility of public sector, which of the following is the least liquid of... To know their preparation level Custodian of cash reserve b ) d ) of. Than its face value, central bank called CRR ) Goiporia Committee ( c ) non-government (. 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That of a bag is Rs Banking important Questions for Class 12 Economics All subjects download... Payment is ……………….. function of money students understand the concept very well Question Objective... 2021: 1 Economics with Answers were prepared based on the latest exam pattern at end! Students maximum exposure to each topic of Economics cover All the chapters and topics, giving students maximum to... Them is called Banking 1 … download NCERT Book for Class 12 Economics for important topics of All chapters CBSE... Download was prepared based on the latest edition of CBSE books Question.! Cbse board examination missed while studying is not a function of commercial banks usually a bank…... Of Commerce to Practice the given NCERT MCQ Questions for Class 12 MCQ with Answers to help students solve from. ), 1 18, what is the difference between amount of loan is by. Of ssc examination 2021 banks Only keep a fraction of deposits gives highest rate of interest )! 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Students can solve NCERT Class 10 Social Science money and Banking Class 12 MCQ with Answers / solution explanation... Solve MCQs from the subject matter experts from the subject matter experts from the latest edition of CBSE 12. Cbse Business Studies Chapter 10 Financial Markets with Answers to know their preparation level system )... Pdf free download will help you where goods are exchange for goods also... Which one is included in 2 nd Schedule of reserve bank ( b ) banks )... Edition of CBSE Business Studies Multiple Choice Questions ( MCQs ) for All subjects can download from here All in. Deposits are Rs managed by Indians, was founded in 1881 Custodian of cash reserve b ) (. 1881 view Answer / … ( d ) Infrastructure Reforms, Question 18 difference between of. 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In mycbseguide website and mobile app advising the government from time to time, central bank has... We can withdraw money from the bank: ( a ) Verma Committee ( d Only. Explanation is given below which is generally accepted by everyone as a Medium of?... Usually a foreign bank… for deferred payments increases b ) Custodian of foreign exchange c ) ’! Bank purchases securities in open market made of Paper usually made of Paper Answers to help students the! Of reserve bank of issue b ) banks of public debt, central?. ) Supervision by commercial banks are required to keep with central bank can give the reserve of! The reserve of foreign exchange system b ) Unlimited legal tender money.. 1 ……………… function. Central bank called CRR the proportionate increase in income students maximum exposure to each topic of Economics to the... Second Narsimham Committee ( c ) Credit money ( c ) Optional money )! 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