MCQ Chapter 8 Banks and the Magic of Finance Class 7 Social Science

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1. What is meant by financial infrastructure?

Question 1 of 20

2. Which institution accepts deposits and gives loans?

Question 2 of 20

3. Money deposited in a bank is called

Question 3 of 20

4. Which bank account is suitable for regular personal savings?

Question 4 of 20

5. Which account usually earns higher interest?

Question 5 of 20

6. Interest is

Question 6 of 20

7. What encourages people to save money in banks?

Question 7 of 20

8. Earning interest on previously earned interest is called

Question 8 of 20

9. What record shows deposits and withdrawals in a bank account?

Question 9 of 20

10. Taking money out of a bank account is called

Question 10 of 20

11. Receiving money into an account is known as

Question 11 of 20

12. Banks earn money mainly by

Question 12 of 20

13. Money borrowed from a bank must be

Question 13 of 20

14. Which scheme helped millions open bank accounts without minimum balance?

Question 14 of 20

15. Which institution supervises banks in India?

Question 15 of 20

16. RBI is also known as

Question 16 of 20

17. RBI was established in

Question 17 of 20

18. RBI controls

Question 18 of 20

19. The base interest rate fixed by RBI is called

Question 19 of 20

20. Which institution supports rural development and agriculture?

Question 20 of 20


 

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