CHAPTER  16 BANK TRANSACTIONS KSEEB SSLC CLASS 10 SOCIAL SCIENCE SOLUTIONS

CHAPTER  16 BANK TRANSACTIONS KSEEB SSLC CLASS 10 SOCIAL SCIENCE SOLUTIONS

 

CHAPTER  16 BANK TRANSACTIONS KSEEB SSLC CLASS 10 SOCIAL SCIENCE SOLUTIONS ,English medium Karnataka state board,the Answers Are Prepared By Our Teachers Which Are Simple ,Pointwise,Easy To Read And Remember ,

CHAPTER  16 BANK TRANSACTIONS KSEEB SSLC CLASS 10 SOCIAL SCIENCE SOLUTIONS

EXERCISES

I Fill in the blanks with suitable words :

1. The word ‘Bank’ has been derived from the French word Banque”.
2. The Banker’s Bank is Reserve Bank of India (RBI).
3. An example for Nationalized bank is State Bank of India (SBI).
4. The National saving certificates are issued by Government of India.

5. The type of account where any number of transactions can be made with Bank is Current Account.

 

6. The deposits for a fixed term can be deposited in Term Deposit Account.

 

II Answer the following questions after discussion with your friends

1.What is a bank?

• A bank is a financial institution.
• It deals with money of the public.
• Banks accept deposits from people and lend it to those in need.
• They offer various services like savings accounts, loans, and money transfers.

 

2.List out the characteristics relating to bank transactions.

• Banks deal with public money.
• They accept deposits from customers.
• They lend money to individuals and institutions.
• Banks facilitate money transfers.
• They collect money through cheques, drafts, and bills.
• Banks provide safe deposit lockers.
• They conduct foreign exchange transactions.
• Banks offer services like issuing letters of credit and guarantee.

 

3.What are the functions of a bank?

• • Accepting deposits from the public.
  • Lending money to the public and institutions.
  • Transferring money from one place to another.
  • Collecting money through cheques, drafts, and bills.
  • Discounting bills.
  • Offering safe deposit lockers.
  • Conducting foreign exchange transactions.
  • Providing trust services.
  • Issuing letters of credit and guarantee.
  • Conducting government transactions.

 

4.Explain the relation between the bank and its customers.

• Primary relationship: Debtors and creditors.
• Subsidiary relationship: Trustee and beneficiary.
• Agent and principal relationship.
• Obligation to honor cheques.
• Obligation to maintain secrecy of accounts.

 

5.”The number of saving bank account holders is increasing” – Give reasons.

• Encouragement to save money.
• Easy access to banking services.
• Government initiatives like financial inclusion.
• Awareness programs on banking benefits.
• Convenience of electronic banking.

 

6.What are the advantages of opening a bank account?

• Safe custody of money.
• Facilitation of payments.
• Collection of money.
• Access to advances and loans.
• Smooth financial transactions.
• Safe deposit locker facilities.

 

 

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