Goyal Brothers Prakashan solutions for Commercial Studies [English] Class 10 ICSE chapter 14 - Banking [Latest edition]

RBI is ______.

Which of the following is a Commercial Bank?

A bank is an institution which accepts _____ from the public and advances ______.

The ______ of a country serves as the leader of the banking system and the money market.

It acts as the bankers' bank.

It carries out the country's monetary policy.

______ is the apex institution of the country's monetary and banking structure where as ______ is one of the organs of the money market.

Central bank is owned by the ____ while commercial bank is owned by ______.

Central bank is the ______ of the country's foreign currency reserves.

Which of the following is/are the function(s) of central bank?

It is a funds transfer system under which transfer of funds takes place from one bank to another on a real time and gross basis.

It is a countrywide system by which an individual, firm or company can electronically transfer funds from any bank branch to another individual, firm or company having an account with any other bank branch in the country.

IMPS stand for ______.

It is a type of electronic card which is used for transactions made online through a computer or a smartphone.

Electronic banking is a part of ______ banking.

A customer can withdraw or deposit money with the help of this machine by inserting his/her card and typing his/her personal identity number.

In case of ______ cardholder makes payment after using the card.

In case of ______ cardholder makes payment before using the card.

This fraud occurs when assets of a company are overstated or its liabilities are understated in order to make it appear financially stronger than what it is in reality.

Any action taken with the intention to obtain a fraudulent benefit from an insurance process is an fraud.

This is a fraud involving property that is protected under patent, trademark, copyright and trade secret laws.

This type of fraud involves a computer and a network.

Which of the following is not a precaution to be used while using debit or credit cards?

The ______ is the central bank of our country which has the authority to print currency notes.

The ______ function of the Central bank involves the settling claims of Commercial banks through a process of book entries.

The Chief of the Reserve Bank of India is called ______.

The RBI settles claims of other commercial banks by a process of book entries. It helps to stabilize the banking system in the economy. Which function of the Central bank is explained here.

Which of the following banks regulate the supply of money in the economy?

Assertion: Central banks control credit.

Reasoning: Commercial banks issue bank drafts.

A false accounting fraud occurs when assets of a company are overstated or its liabilities are understated in order to make it appear financially stronger than what it is in reality. Which of the following is NOT the reason behind false accounting?

1. Use unique identification and passwords to control access to systems and buildings.
2. To attract customers by appearing more successful than reality.
3. Make payments after multiple authority and signatures.
4. To get loans from banks/financial institutions.

Which of the following is not true regarding RTGS?

Which of the following banks regulate the supply of money in the economy?

IMPS stand for Immediate (Mobile) Payment Service. It was started in 2010. In order to use IMPS, you don’t have to register for mobile banking.

Imagine you are using this machine. What will you not do from the following?

Intellectual Property Fraud is a fraud involving property like house, land, mobile etc. it includes movable and immovable property.

Which of the following is NOT an example of Internet and Cyber Fraud:

Observe the image and state the type of fraud.

Identify the picture.

Government grants the exclusive right to the central bank to issue notes on its behalf.

Observe the image and identify the function of Central Bank.

ASSERTION: The central bank is the sole custodian of gold and foreign currency reserves of the country.

REASONING: The ICICI carries out these settlements where the Reserve Bank of India has no office.

The RBI settles claims of other commercial banks by a process of book entries. It helps to stabilize the banking system in the economy. Which function of the Central bank is explained here.

Observe the image and identify the function of Central Bank associated with it.

ASSERTION: There is a difference between a debit card and a credit card.

REASONING: A debit card card- holder must have money in his/her bank account. But in a credit card, the balance in the account is not necessary, as the cardholder is granted credit by the bank up to a specified limit.

Which of the following is NOT an Insurance Fraud?

1. An insurer knowingly denies a due benefit to the insured/beneficiary.
2. Both employees of insurance companies and claimants indulge in insurance fraud.
3. Fee Churning.
4. Espionage.

Faking accidents, faking death, concealing information for health care are examples of ______ fraud.

Identify the type of Fraud.

Which of the following is NOT true with reference to the Reserve Bank of India?

Mohit goes to the bank with a credit instrument which is due three months later. The bank charges some commission and pays less than the face value of the instrument.

Identify the kind of loan granted by the commercial bank.

Ram has a current account with State Bank of India. He issues a cheque of ₹ 55,000/- to his supplier, but the balance in his account was only ₹ 50,000/-. The cheque is cleared. The bank provides him:

Assertion (A): The Central Bank is the sole custodian of foreign currency reserves.

Reason (R): The Central Bank has the monopoly of note issue.

Give two major functions of the central bank of our country.

“The central bank is a banker’s bank.” Explain.

Mention three credit control functions of the Reserve Bank of India.

What is meant by an overdraft facility given by a commercial bank?

What is meant by clearing house function of the RBI?

"The central bank is the lender of the last resort." Explain.

Write a Short note on IMPS.

State two advantages of travellers cheques.

Distinguish between the Central Bank and the Commercial Bank.

What is an ATM?

State any two precautions while using an 'ATM'.

What is a credit card?

What is a debit card?

Give the full form of RTGS.

Give the full form of IMPS.

Distinguish between a Debit card and a Credit card.

Distinguish between overdraft and cash credit.

Distinguish between saving account and current account.

What is ‘National Electronic Fund Transfer’?

What is meant by E-banking?

Give two agency functions of commercial banks.

What is false accounting?

Explain in brief Credit Card Fraud?

Describe Insurance Fraud.

What do you mean by Internet and Cyber Fraud?

Write a short note on Intellectual Property Fraud.

Write a short note on ‘RTGS’.

What is an overdraft?

Distinguish between NEFT and RTGS.

What is meant by the central bank of a country?

Explain in brief four methods usually adopted by the central bank to control credit in the country.

What is a Central Bank?

What are the important functions of Central Bank? Which of these functions are more important in a country like India?

Explain the 'Clearing House Function' of the central bank.

What are the important functions of Central Bank? Which of these functions are more important in a country like India?

Compare and contrast the features of RTGS and NEFT. 

List any four features of NEFT. 

Describe in brief various financial fraudulent practices.

What is Financial Accounting Fraud? State its motives.

What steps can be taken against financial accounting fraud?

Write a short note on Intellectual Property Fraud.

What steps can be taken to protect against Intellectual property Fraud?

What is an ATM?

What is ‘National Electronic Fund Transfer’?

Write a short note on ‘RTGS’.

State three precautions that must be taken while using credit or debit cards.

Visit the office of any commercial bank located near your school/residence. Meet in a group the manager of the bank branch. Enquire from him the functions and services which the bank offers to business firms. You may prepare a brief report on the basis of information collected from the manager. The report may be placed in the class for debate and discussion.

Visit any commercial bank in your city. Meet the staff and find out the procedure for opening a savings bank account. What facilities are available under such an account? How frequently can money be deposited and withdrawn from a savings account? What are the advantages of using a cheque for making payments?

What is a Bank Draft?

What is a Banker’s Cheque?

Write a short note on ‘RTGS’.

What is ‘National Electronic Fund Transfer’?

What is IMPS?

What are Mobile wallets?

Distinguish between the Central Bank and the Commercial Bank.

If you have a credit card with a ₹ 100,000 credit limit and you buy something worth ₹ 20000, your credit card balance will now be ₹ 20000. You can choose to pay this off immediately, or you can wait until your billing statement arrives. If you don’t pay the full ₹ 20000 by the due date, you’ll be charged interest on the remaining balance.

How is the increasing popularity of ATMs influencing consumer banking behaviour, and how can banks leverage this trend to improve customer service and operational efficiency?

Why is the Central Bank called the Government’s Bank?

Distinguish between a Debit card and a Credit card.

What is a Central Bank?

What is ‘National Electronic Fund Transfer’?

'Rita' was using a plastic card to withdraw money from a machine set up outside the bank.

1. Identify the card.
2. Write any four precautions that must be taken while using such a card.