Which one is the following is the important characteristic of modern form of currency?

• It is made from precious metal
• It is made from thing of everyday use
• It is authorized by commercial banks
• It is authorized by the Government of the country

Money can be best described as

• Medium of transaction
• Medium of exchange
• Deposit in Banks
• Payment through cheque

Who is the founder of Grameen Bank of Bangladesh?

• Mohammad Yunus
• Mohammad Kasim
• Mohammad Tuglaq
• Mohammad Zakir

At present which form of money is increasingly used apart from paper money?

• (a) bitcoins

• (b) Metallic money

• (c) Plastic money

• (d) All the above

What percentage of deposits are kept as cash by the commercial banks in India?

• 25%

• 20%

• 15%

• 10%

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

• Saving account

• Fixed account for long period of time

• Current account

• Fixed account for short period of time

Under Barter System the exchange of goods require ____.

• Double coincidence of wants

• A good transport system

• Advertising

• Communication

  
  

_______________________is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender.

• Currency

• Collateral

• Credit Card

Which one of the following is the new way of providing loans to the rural poor?

• Co-operative societies

• Traders

• Relatives and friends

• SHG's

Terms of credit does not include

• Interest rate

• Collateral

• Cheque

• Mode of repayment