Banking — Practice Quiz
Telangana Open School (TOSS) · Class 12 · Economics
Try a 4-question quiz on Banking for Telangana Open School (TOSS) Class 12 Economics: tap an answer to check it and see why.
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Quick Quiz: Banking
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What is the main function of a commercial bank?
Which of the following is a type of deposit account?
Which bank is the central bank of India?
On which type of deposit do banks generally not pay interest?
Sample Questions
What does NEFT stand for?
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National Electronic Fund Transfer
NEFT stands for National Electronic Fund Transfer, a system used for transferring money electronically between banks.
Which of the following is NOT a function of commercial banks?
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Manufacturing currency
Commercial banks do not manufacture currency. That is the function of the Reserve Bank of India.
When was the Reserve Bank of India established?
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1935
The Reserve Bank of India was established on April 1, 1935, as mentioned in the chapter.
Which type of deposit earns the highest interest rate?
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Fixed deposit
Fixed deposits offer higher interest rates compared to savings and recurring deposits because the money is locked in for a fixed period.
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