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The longest serving Governor of the RBI is
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Important Questions on Money and Credit
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I. There is no change in their bank accounts.
II. Both their bank balances increase by Rs .
III. Siddhik’s bank balance decreases by Rs and Hanush’s bank balance increases by the same amount.
IV. There is no change in Siddhik’s bank balance although Hanush’s bank balance sees an increase.
Based on the above statements which option is correct?
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Read the statements below carefully and choose the correct option.
: Gold and silver are modern forms of money.
: State Bank of India issues currency notes on behalf of the Government of India.
: Banks lend out all the cash that they receive as deposits.
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A shoe manufacturer, M. Salim has to make a payment to the leather supplier and writes a cheque for a specific amount. This means that the shoe manufacturer instructs his bank to pay this amount to the leather supplier. The leather supplier takes this cheque, and deposits it in his own account in the bank. The money is transferred from one bank account to another bank account in a couple of days. The transaction is complete without any payment of cash.
Choose the correct answer.
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