Class 12 Macroeconomics Sandeep Garg Solutions Chapter 6 - Banking - Commercial Banks and The Central Bank
FAQs on Sandeep Garg Macroeconomics Class 12 Solutions Chapter 6
1. How Many Question-Answers are Given in Chapter 6 of Sandeep Garg Solutions?
There are six questions in the Banking chapter of Sandeep Garg class 12 macroeconomics solutions. These provide a detailed insight of the banking system of India, describing the central and commercial banks of the country.
2. How is CRR Different from SLR?
CRR stands for Cash Reserve Ratio, while SLR stands for Statutory Liquidity Ratio. CRR implies the proportion of bank deposits which has to be made in the form of cash. On the other hand, SLR is the proportion of bank deposit required to be maintained in the form of liquid assets (like gold, treasury bills, government bonds, etc.) Both SLR and CRR are to be maintained with the Reserve Bank of India.
3. What is the Meaning of Bank of Issue?
Bank of issue is the apex body in a country which enjoy the authority to create currency notes. RBI is the bank of issue in India. RBI is also the apex authority in Indian banking structure, holding the sole right to make monetary decisions on behalf of the country.
4. How can I learn to write answers in Macroeconomics for Class 12?
In order to attempt the answers in macroeconomics for the Class 12 exam, you need to know some tips that will help you with the smooth flow of the exam. Economics is one of the subjects that you can finish off within the given time and still have time left to go through the needed changes. Here are some tips on how to give precise answers:
Make sure you do not write lengthy answers instead make sure the answers are to-the-point and precise.
Adding the answers in a sequential manner will allow the teachers to go through the answers much easier and provide you with better marks.
If there is a definition asked then all you need to write is the definition and the download if any. You need not specify any other extra information that is not asked for
Make sure you highlight the final answer and use a pencil for any additional changes so that it does not look haphazard.
Check the number of marks provided for each question and answer accordingly for example if it is a question worth 1 mark write only a single line about the answer however if there is a question worth 4 marks you can elaborate on the question asked.
5. How are commercial banks different from reserve banks?
There are quite a few differences when it comes to commercial banks and reserve banks. The difference between the two can be provided as follows:
1. Ownership:
The commercial banks are either owned by government sectors or by private sector parties while the Reserve banks are owned by the Government of India only.
2. Motive:
The commercial banks aim at earning profit via interests being applied whereas reserve banks aim to prevent the government from taking control over the money and to extend banking facilities all over the country.
3. Lending facilities:
The commercial banks have lending facilities and other related offers to the general public whereas the reserve banks do not lend money to the public instead it lends money only to other banks.
6. What are the types of banks and what are their functions?
There are a number of bank types in India and the different types are:
Central bank
Cooperative banks
Commercial banks
Regional Rural Banks
Local Area Banks
Specialized banks
Small Finance Banks
Payments Banks
Reserve Banks.
The function of all these types of banks will mainly include the following:
acceptance of deposits from the public
provide demand withdrawal facility
lending facility
transfer of funds
issue of drafts
provide customers with locker facilities
dealing with foreign exchange.
Knowing the different banks and their functions is not only helpful in answering the Macroeconomics Class 12 Chapter 6 - Banking - Commercial Banks and The Central Bank question but also helps in other competitive exams as well. You can find good quality and well-researched content on banking on the website of Vedantu and its mobile application.
7. How does the Sandeep Garg Macroeconomics Class 12 for Chapter 6 - Banking - Commercial Banks and the Central Bank help students to understand the banks and their usages in daily life?
The Sandeep Garg Macroeconomics Class 12 Solutions for Chapter 6 - Banking - Commercial Banks and The Central Bank provides a comprehensive guide on the types of banks, their roles and the importance of these institutions. Such learning can also be applied to daily life where understanding of banks and their roles become a necessity. Apart from being useful in daily life, students also tend to understand these concepts and score well in the board exam or any other exams alike.
8. Is it possible to learn through Sandeep Garg Macroeconomics Class 12 Solutions for Chapter 6 - Banking - Commercial Banks and The Central Bank for board exams?
12th board exams might sound a bit scary for a lot of students but it is actually quite easy to tackle if you have a good understanding of the concepts and have practiced enough for the exam. Learning through the Sandeep Garg Macroeconomics Class 12 Solutions for Chapter 6 - Banking - Commercial Banks and The Central Bank available on the website of Vedantu gives students an ability to understand; the main motive of the chapter in short words while also helping them write the answers in their own words.