Central Bank — Practice Quiz
ICSE · Class 10 · Economics
Try a 4-question quiz on Central Bank for ICSE Class 10 Economics: tap an answer to check it and see why. 44 questions in the full chapter test.
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What is the central bank of India called?
When was the Reserve Bank of India established?
What does CRR stand for?
What happens when the central bank increases the repo rate?
Sample Questions
Which of the following are functions of a central bank?
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Issue of currency notes, Banker to the government, Controller of credit
Central banks issue currency notes, act as banker to the government, and control credit. They do not directly accept deposits from or provide loans to the general public - that's the function of commercial banks.
The central bank has monopoly right of note issue.
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True
The central bank has the sole monopoly to issue currency notes. Commercial banks cannot issue currency notes. This brings uniformity and helps control money supply.
Which of the following are quantitative methods of credit control?
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Bank Rate Policy, Open Market Operations, Cash Reserve Ratio
Quantitative methods include Bank Rate Policy, Open Market Operations, and Legal Reserve Requirements (CRR and SLR). Moral Suasion and Margin Requirements are qualitative methods.
Demonetization means withdrawal of legal tender status of currency.
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True
Demonetization is when a currency note ceases to be a legal tender. The government withdraws the legal tender status, making the old currency invalid for transactions.
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