AHSEC| CLASS 11| FINANCE| SOLVED PAPER - 2024| H.S. 1ST YEAR

 

AHSEC| CLASS 11| FINANCE| SOLVED PAPER - 2024| H.S. 1ST YEAR

2024
FINANCE
Full Marks: 80
Pass Marks: 24
Time: 3 hours
The figures in the margin indicate full marks for the questions

 

1. Answer the following as directed: 1×6=6

(a) The Banking Regulation Act was passed in the year 1949. (Fill in the blank)

(b) RRBs were started in the year 1967/1975/1976. (Choose the correct answer)

(c) Who is authorized to issue paper currency in India?

Ans:- The Reserve Bank of India (RBI).

(d) Write the name of the Central Bank of our country.

Ans:- The Reserve Bank of India (RBI).

(e) Write the full form of NABARD.

Ans:- National Bank for Agriculture and Rural Development.

(f) EXIM bank was established in the year 1982. (Fill in the blank)

2. What is savings bank? 2

Ans:- A savings bank is a type of financial institution that focuses primarily on accepting deposits and providing interest on those deposits. It operates under specific state laws that govern how it invests money and conducts business. Savings banks are designed to encourage savings and provide a safe place for individuals to deposit their money while earning interest.

3. Name any two public sector banks in India. 2

Ans:- There are two public sector banks in India:-

(i) State Bank of India (SBI)

(ii) Punjab National Bank (PNB).

4. Write two functions of regional rural banks. 2

Ans:- The two functions of Regional Rural Banks (RRBs) are:-

(i) Disbursement of wages: RRBs help in disbursing wages for schemes like MGNREGA.

(ii) Providing banking support: They provide banking services in rural and semi-urban areas, supporting local economic activities.

5. What is bank passbook? 2

Ans:- A bank passbook is a document provided by a bank to its customers, containing details of all transactions relating to their account, including deposits, withdrawals and interest earned. It serves as a record of account activity and balance over time.

6. State any two differences between Commercial Bank and Reserve Bank. 2

Ans:- There are two differences between commercial banks and Reserve Bank:-

(i) Functions: Commercial banks accept deposits, give loans and provide various financial services to individuals and businesses. On the other hand, the Reserve Bank of India (RBI) is the central bank responsible for regulating the country's monetary policy and banking system.

(ii) Role in the economy: Commercial banks play a role in mobilising public funds and facilitating economic activities at the micro level. The RBI plays a macroeconomic role by controlling inflation, managing foreign exchange, and maintaining financial stability.

7. State briefly the difficulties of barter system.3

Ans:- There are several difficulties in the barter system:-

(i) Lack of double coincidence of wants: Both parties must have what the other needs and be willing to trade, which is often difficult to achieve.

(ii) Lack of a common standard of value: There is no standard unit to measure the value of commodities, making the exchange ratio arbitrary.

(iii) Lack of subdivision: Some commodities cannot be divided without losing value, thereby limiting trade options.

8 Explain about retail banking.3

Ans:- Retail banking refers to providing banking services to individual consumers rather than corporate clients.

It includes the following services:-

(i) Checking and savings accounts: Basic deposit accounts for managing personal finances.

(ii) Credit cards and loans: Personal loans, credit cards, and mortgages for individual use.

(iii) ATMs and online services: Convenient access to banking services through ATMs and online platforms.

Retail banking focuses on meeting the financial needs of individuals and families.

9. Give the meaning of credit card.3

Ans:- A credit card is a type of loan that allows users to borrow money from the card issuer to make purchases, pay bills, or obtain cash advances. It needs to be repaid, often with interest if not paid in full by the due date. Credit cards offer convenience and flexibility in managing personal finances, but they can also lead to debt if not used responsibly.

10. Write a note on trade cycle. 3

Ans:- The business cycle, also known as the business cycle, refers to fluctuations in economic activity over time, typically involving phases of expansion, peak, contraction, and trough. These phases are characterized by changes in GDP, employment, and inflation rates. The cycle is influenced by factors such as consumer spending, investment, and government policies. Understanding the business cycle helps policymakers manage economic stability and growth.

Phases of Business Cycle:-

(i) Expansion: Economic growth, increase in output and employment.

(ii) Peak: Maximum economic activity before recession.

(iii) Contraction: Economic decline, low output and employment.

(iv) Lowest point: Lowest point of economic activity before recovery begins.

11. What are the advantages of Internet banking? 3


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