Which one of the following statement is not true about ‘credit’?
  • In rural households, moneylenders are the biggest source of credit for the people.
  • Credit helps the farmers to meet the expenses of food grain production.
  • Cheap and affordable credit is crucial for the country’s development.
  • Credit can never push a person in debt trap.
Professor Muhammad Yunus is the founder of which one of the following banks?
  • Commercial bank
  • Land development bank
  • Cooperative bank
  • Grameen bank
Which of the following is crucial for the development of a country?
  • High rate of interest on credit
  • Cheap and affordable credit
  • Increase the lending activity of informal sector
  • Decrease the lending activity of formal sector
Which of the following statements is most appropriate regarding the transactions made in money?
  • It promotes trade
  • It is the safest way
  • It is the easiest way
  • It is the cheapest way
Banks provide a high rate of interest on which one of the following accounts?
  • Fixed deposits for long period
  • Savings account
  • Current account
  • Fixed deposits for short period
Which of the following is a modern form of currency?
  • Silver
  • Gold
  • Paper notes
  • Copper
Which of the following statement is not true about modern forms money?
  • It is a medium of exchange
  • Modern forms of money include paper notes
  • It include coins
  • It is made of valuable metals like gold and silver
Which of the following is an essential feature of barter system?
  • It is an easy way
  • It promotes local market
  • It increases social field of an individual
  • It requires double coincidence of wants
Which one of the following is the main source of credit for rich urban households in India?
  • Informal
  • Formal
  • Traders
  • Moneylenders
How are banks extending loans to the public?
  • Borrow money from RBI
  • Cash deposits with banks
  • Loans from cooperatives
  • Credit from money lenders
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