Banking
Telangana Open School (TOSS) · Class 12 · Economics
Complete topic list for Banking in Telangana Open School (TOSS) Class 12 Economics. Key concepts, sub-topics, and what to focus on for board exams.
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Topics in Banking
Concept and Definitions of Banking
- The word 'banking' comes from the Greek word 'banque', meaning bench.
- In ancient times, temples were used as depositories for money and lending.
- Modern banking began in the 19th century with the development of commercial banks.
Functions of Commercial Banks
- Accepting deposits: Current, Savings, Fixed, and Recurring deposits.
- Providing loans and advances: Demand loans, short-term loans, cash credit, overdraft, bill discounting, and credit cards.
- Credit creation: Banks create money by lending more than their cash reserves.
Net Banking and Digital Services
- Net banking allows customers to perform banking transactions online via internet or mobile apps.
- Services include fund transfer, bill payment, account statements, and online shopping.
- Examples: NEFT, RTGS, ECS, mobile banking.
Reserve Bank of India (RBI)
- Established on April 1, 1935, nationalized in 1949.
- Objectives: Monetary stability, price stability, regulating credit, and financial supervision.
- Functions: Issue of currency, banker to government, banker’s bank, lender of last resort, clearing house, custodian of forex, credit control.
Key Concepts
Central concept: Banking
Frequently Asked Questions
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Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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