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SBI PO Mains 2016 (Money Banking And Financial Awareness) Online Question Bank

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Publisher Cosmos Bookhive
Author: Cosmos BookHive
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1. Before the introduction of money, barter system of exchange existed in which goods were
exchanged for goods. 2. Money is anything which we use as a medium of exchange and measure of value. 3. Distinction can be made between i actual money and money of account, ii commodity money
and representative money, iii legal tender money and optional money, iv money and near money, v metallic money and paper money, and w credit money. 4. Characteristics of good money include durability, light weight, proper size, divisibility,
cognizability, and stability in value. 5. The important functions of money include the following i Primary functions medium of
exchange and measure of value , ii Secondary functions transfer of value, store of value and standard of deferred payment , and iii Contingent functions equalisation of marginal utilities, distribution of national income, basis of credit, liquidity and bearer of option . 6. Only that part of total stock of money which is actually held by the public constitutes money
supply. 7. Narrow definition of money supply is based upon the high liquidity of money. 8. Narrow money includes currency with the public and demand deposits with the banking system. 9. Broad money includes currency with the government and banks, monetary gold stock and time
deposits. 10. Money supply does not include stocks of monetary gold held in reserves, currency with the
government and banks. 11. Reserve Bank of India s measures of money supply include M1, M2, M3 and M4 12. A commercial bank is a financial institution which accepts public deposits and grants loans to
firms, households and government. 13. The main functions of a commercial bank include the following i Accepting deposits, ii
Granting loans and advances, iii Transfer of funds, and iv Subsidiary and general utility services. 14. Central bank is the apex institution in the banking structure of a country. 15. Central bank regulates currency and credit in an economy. 16. Central bank differs from commercial banks in the following respects i Central bank is,
generally, owned by the government, whereas, commercial banks operate both in public and private sectors, ii Central bank has monopoly over note issue, but commercial banks cannot issue notes, iii Central bank has the authority to regulate and control money supply and credit, whereas commercial banks are subordinate to the central bank, iv Central bank does not directly deal with the public, while commercial banks provide direct services to their customers, and v Central bank does not operate for profit motive, whereas commercial banks operate for profit motive. 17. The main functions of a central bank include i Note issue, ii Bankers, agent and financial
adviser to the State, iii Bankers bank, iv Custodian of foreign exchange reserves, v Acts as a clearing house, vi Lender of the last resort, and vii Controller of credit. 18. Central bank uses the following measures to control credit i Quantitative or Traditional Credit

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