Banks provide a higher rate of interest on which one of the following accounts?

• Saving account

• Current account
  
  

• Fixed deposits for long period
  
  

•  Fixed deposits for very short period

Majority of the credit needs of the _________ households are met from informal sources.

_________ costs of borrowing increase the debt-burden.

_________ issues currency notes on behalf of the Central Government.

Banks charge a higher interest rate on loans than what they offer on ________.

_________ is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender.

In a SHG most of the decisions regarding savings and loan activities are taken by:

Formal sources of credit does not include:

Why do we need to expand formal sources of credit in India?

Why is money accepted as a medium of exchange in India?

Answer the questions asked below:

(i)Why are transactions are made in money?

(ii)Why is money is called a medium of exchange?

(iii)What is the most significant feature of the barter system?