67 Questions Available
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What is a payment system?
How do banks make money? Explain with an example.
What is a passbook?
What is the Pradhan Mantri Jan Dhan Yojana and what are its benefits?
Describe the three types of bank accounts.
What is a fixed deposit account?
What does the RBI do?
What is an ATM?
How does a debit card work at a POS machine?
What is a loan?
How do banks earn profit?
What is compounding?
What type of account is a savings account?
Match the financial institutions in Column A with their corresponding functions in Column B.
|
Column A |
Column B |
|
1. Reserve Bank of India |
(a) Supports rural development and funds banks for farming and the village industries |
|
2. NABARD |
(b) Provides savings schemes like NSC and kisan Vikas Patra |
|
3. Post offices |
(c) Market place where financial securities like stock are traded |
|
4. Stock Exchange |
(d) Supervises Indian banking system issue currency notes |
|
5. NPCI |
(e) Launched UPI in 2016 for digital payments |
What is a savings account, and what are its main features?
How does compounding help money grow over time?
What is the Reserve Bank of India?
How does the Unified Payments Interface make digital payments easier?
What services do banks typically offer?
What factors affect share prices in the stock market?