India is one of the world’s richest countries in terms of its vast array of biological diversity. You may have realised the importance of these resources in our daily life. These diverse flora and fauna are so well integrated in our daily life that we take these for granted. But, lately, they are unRead more
India is one of the world’s richest countries in terms of its vast array of biological diversity. You may have realised the importance of these resources in our daily life. These diverse flora and fauna are so well integrated in our daily life that we take these for granted. But, lately, they are under great stress mainly due to insensitivity to our environment. Some estimates suggest that at least10 per cent of India’s recorded wild flora and 20 per cent of its mammals are on the threatened list. Many of these would now be categorised as ‘critical’, that is on the verge of extinction like the cheetah, pink-headed duck, mountain quail, forest spotted owlet, and plants like madhuca insignis (a wild variety of mahua) and hubbardia heptaneuron,(a species of grass).
Starting from micro-organisms and bacteria, lichens to banyan trees elephants and blue whales. This entire habitat that we live in has immense biodiversity. We humans along with all living organisms form a complex web of ecological system in which we are only a part and very much dependent on this sRead more
Starting from micro-organisms and bacteria, lichens to banyan trees elephants and blue whales. This entire habitat that we live in has immense biodiversity. We humans along with all living organisms form a complex web of ecological system in which we are only a part and very much dependent on this system for our own existence. For example, the plants animals and micro-organisms re-create the quality of the air we breathe, the water we drink and the soil that produces our food without which we cannot survive and this dependence on other known as biodiversity.
(i) Credit at reasonable interest rates should be available for all so that they may increase their income and help in the over all development of the country. (ii) High interest rate do little to increase the income of the borrowers. (iii) It is necessary that the banks and cooperatives increasesRead more
(i) Credit at reasonable interest rates should be available for all so that they may increase their income and help in the over all development of the country.
(ii) High interest rate do little to increase the income of the borrowers.
(iii) It is necessary that the banks and cooperatives increases their lending particularly in the rural areas, so that the dependence of the people on informal sources of credit reduces.
(iv) In addition to this more credit should be given to the poor to get maximum benefit from the cheaper loans.
(v) This will help in increasing in their income as well as standard of living.
Formal Sector (i) Formal sector sources sources are banks and cooperatives. (ii) The banks and cooperatives charge less rate of interest i.e., about 10 per cent per annum or so. (iii) It results in more income and better condition of the borrower. There is improvements in his financial conditions. (Read more
Formal Sector
(i) Formal sector sources sources are banks and cooperatives.
(ii) The banks and cooperatives charge less rate of interest i.e., about 10 per cent per annum or so.
(iii) It results in more income and better condition of the borrower. There is improvements in his financial conditions.
(iv) Reserve Bank of India supervises the functioning of formal sources of loans.
Informal Sectors
(i) Informal sector sources are moneylenders, traders employers, relative and and friends.
(ii) Informal sector sources charges higher interest i.e., 3 to 5 per cent month.
(iii) Higher rate of interest of interest result in less income for the borrowers. It sometimes leads to debt-trap.
(iv) There is no organisation which supervises the credit activities of the lenders in the informal sector. They do whatever is in their interest.
Two different credit situations where credit plays a positive and a negative role are as given below: (i) Credit and a positive role: A traders obtains credit to meet the working capital needs of production. The credit helps him to meet the one going expenses of production, complete production on tRead more
Two different credit situations where credit plays a positive and a negative role are as given below:
(i) Credit and a positive role: A traders obtains credit to meet the working capital needs of production. The credit helps him to meet the one going expenses of production, complete production on time and thereby increase his earnings. Thus he is a able to repay the loans that the had borrowed in time. In such a situation credit plays a positive role and the borrower is able to improve his condition.
(ii) Credit and a negative role: A farmer takes a loan to meet the expenses of cultivation hoping that there would be goods harvest and he would repay the loan. The harvest, however, fails and the farmer is unable to repay the loan. Next year again he takes loan but the crop is not good and loan repayment can not be made. The borrower has no option but to sell a part of his land to pay off the loan. Loan/credit instead of helping the farmer improve his condition left him worse off. He falls into dept-trap. Credit in this case pushes the borrower into a situation from which recovery is very painful. Thus, in one situation credit helps to increase earnings and person is better off than before. In the second situation credit pushes the person into a debt trap and he has to sell a part of his land.
If a person has to make a payment he issue a cheque for a specific amount in his name such a TPDDL. The TPDDL will deposit the cheque in their own account in the banks Thereafter, the money is transferred from one bank to another bank account in a couple of days. Thus, transaction takes place withoRead more
If a person has to make a payment he issue a cheque for a specific amount in his name such a TPDDL. The TPDDL will deposit the cheque in their own account in the banks Thereafter, the money is transferred from one bank to another bank account in a couple of days. Thus, transaction takes place without any payments of cash from one bank account to another bank account.
(a) Collateral is an asset that the borrow owns and uses this as a guarantee to a lenders until the loans is rapid. (b) If the borrower fails to repay the loan, the lender has the right to sell the asset or collateral to obtain payment. (c) Property such as land titles, deposits with banks, livestocRead more
(a) Collateral is an asset that the borrow owns and uses this as a guarantee to a lenders until the loans is rapid.
(b) If the borrower fails to repay the loan, the lender has the right to sell the asset or collateral to obtain payment.
(c) Property such as land titles, deposits with banks, livestock are some common examples of collateral used for borrowing.
(a) Deposits are beneficial to the depositors as mentioned below: (i) Bank accept the deposit and pay as interest rate on the deposits. (ii) Money is safe with the bank. (iii) People (depositor) may withdraw the money as and when they require. (iv) Depositors may make payments through cheques insteaRead more
(a) Deposits are beneficial to the depositors as mentioned below:
(i) Bank accept the deposit and pay as interest rate on the deposits.
(ii) Money is safe with the bank.
(iii) People (depositor) may withdraw the money as and when they require.
(iv) Depositors may make payments through cheques instead of cash.
(b) Deposits are beneficial for the banks too as mentioned below:
(i) Banks keep only a small proportion of deposits. Now a days, banks keep you about 15 per cent as cash in order to pay the depositors who might come to withdraw money from the bank on any give day.
(ii) Bank use the major portion of the deposits to extend loans. There is huge demand for loans for various economic activities. Banks make use of the deposits to meet the loan requirements of the people. Businessmen and other entrepreneurs take loan s from the bank and open the factories. They help in the advancement of the economy. Thus the deposits are beneficial to the nation.
Modern currency accepted as the medium of exchange without any use of its own due to reason as mentioned below: (i) In India, the Reserve Bank of India issues currency notes on behalf of the central government. (ii) As per Indian law, no other individual or organisation is allowed to issue currency.Read more
Modern currency accepted as the medium of exchange without any use of its own due to reason as mentioned below:
(i) In India, the Reserve Bank of India issues currency notes on behalf of the central government.
(ii) As per Indian law, no other individual or organisation is allowed to issue currency.
(iii) The law legalises the use of rupee as a medium of payment that cannot be refused in settling transaction in India.
(iv) No individual in India can legally refuse a payment made in rupee. Hence the rupee is widely accepted as the medium of exchange.
(a) A system in which goods are directly exchanged without the use of money is called barter system. (b) Double coincidence of wants means when both the parties - seller and purchaser - ae agree to sell and buy each other's commodities. It implies that what a person desires to sell is exactly what tRead more
(a) A system in which goods are directly exchanged without the use of money is called barter system.
(b) Double coincidence of wants means when both the parties – seller and purchaser – ae agree to sell and buy each other’s commodities. It implies that what a person desires to sell is exactly what the other wishes to buy. No money is used in such an arrangement. Therefore it is an essential feature of barter system.
Discuss about the flora and fauna found in India?
India is one of the world’s richest countries in terms of its vast array of biological diversity. You may have realised the importance of these resources in our daily life. These diverse flora and fauna are so well integrated in our daily life that we take these for granted. But, lately, they are unRead more
India is one of the world’s richest countries in terms of its vast array of biological diversity. You may have realised the importance of these resources in our daily life. These diverse flora and fauna are so well integrated in our daily life that we take these for granted. But, lately, they are under great stress mainly due to insensitivity to our environment. Some estimates suggest that at least10 per cent of India’s recorded wild flora and 20 per cent of its mammals are on the threatened list. Many of these would now be categorised as ‘critical’, that is on the verge of extinction like the cheetah, pink-headed duck, mountain quail, forest spotted owlet, and plants like madhuca insignis (a wild variety of mahua) and hubbardia heptaneuron,(a species of grass).
See lessWhat do you understand by the biodiversity or biological diversity?
Starting from micro-organisms and bacteria, lichens to banyan trees elephants and blue whales. This entire habitat that we live in has immense biodiversity. We humans along with all living organisms form a complex web of ecological system in which we are only a part and very much dependent on this sRead more
Starting from micro-organisms and bacteria, lichens to banyan trees elephants and blue whales. This entire habitat that we live in has immense biodiversity. We humans along with all living organisms form a complex web of ecological system in which we are only a part and very much dependent on this system for our own existence. For example, the plants animals and micro-organisms re-create the quality of the air we breathe, the water we drink and the soil that produces our food without which we cannot survive and this dependence on other known as biodiversity.
See lessWhy should credit at reasonable rates from the banks and cooperatives be available for all?
(i) Credit at reasonable interest rates should be available for all so that they may increase their income and help in the over all development of the country. (ii) High interest rate do little to increase the income of the borrowers. (iii) It is necessary that the banks and cooperatives increasesRead more
(i) Credit at reasonable interest rates should be available for all so that they may increase their income and help in the over all development of the country.
(ii) High interest rate do little to increase the income of the borrowers.
(iii) It is necessary that the banks and cooperatives increases their lending particularly in the rural areas, so that the dependence of the people on informal sources of credit reduces.
(iv) In addition to this more credit should be given to the poor to get maximum benefit from the cheaper loans.
(v) This will help in increasing in their income as well as standard of living.
See lessExplain any two features each of formal sector loans and informal sector loans.
Formal Sector (i) Formal sector sources sources are banks and cooperatives. (ii) The banks and cooperatives charge less rate of interest i.e., about 10 per cent per annum or so. (iii) It results in more income and better condition of the borrower. There is improvements in his financial conditions. (Read more
Formal Sector
(i) Formal sector sources sources are banks and cooperatives.
(ii) The banks and cooperatives charge less rate of interest i.e., about 10 per cent per annum or so.
(iii) It results in more income and better condition of the borrower. There is improvements in his financial conditions.
(iv) Reserve Bank of India supervises the functioning of formal sources of loans.
Informal Sectors
(i) Informal sector sources are moneylenders, traders employers, relative and and friends.
(ii) Informal sector sources charges higher interest i.e., 3 to 5 per cent month.
(iii) Higher rate of interest of interest result in less income for the borrowers. It sometimes leads to debt-trap.
(iv) There is no organisation which supervises the credit activities of the lenders in the informal sector. They do whatever is in their interest.
See lessDescribe the positive role of credit with examples.
Two different credit situations where credit plays a positive and a negative role are as given below: (i) Credit and a positive role: A traders obtains credit to meet the working capital needs of production. The credit helps him to meet the one going expenses of production, complete production on tRead more
Two different credit situations where credit plays a positive and a negative role are as given below:
(i) Credit and a positive role: A traders obtains credit to meet the working capital needs of production. The credit helps him to meet the one going expenses of production, complete production on time and thereby increase his earnings. Thus he is a able to repay the loans that the had borrowed in time. In such a situation credit plays a positive role and the borrower is able to improve his condition.
(ii) Credit and a negative role: A farmer takes a loan to meet the expenses of cultivation hoping that there would be goods harvest and he would repay the loan. The harvest, however, fails and the farmer is unable to repay the loan. Next year again he takes loan but the crop is not good and loan repayment can not be made. The borrower has no option but to sell a part of his land to pay off the loan. Loan/credit instead of helping the farmer improve his condition left him worse off. He falls into dept-trap. Credit in this case pushes the borrower into a situation from which recovery is very painful. Thus, in one situation credit helps to increase earnings and person is better off than before. In the second situation credit pushes the person into a debt trap and he has to sell a part of his land.
See lessDescribe how cheque payments are made and realised.
If a person has to make a payment he issue a cheque for a specific amount in his name such a TPDDL. The TPDDL will deposit the cheque in their own account in the banks Thereafter, the money is transferred from one bank to another bank account in a couple of days. Thus, transaction takes place withoRead more
If a person has to make a payment he issue a cheque for a specific amount in his name such a TPDDL. The TPDDL will deposit the cheque in their own account in the banks Thereafter, the money is transferred from one bank to another bank account in a couple of days. Thus, transaction takes place without any payments of cash from one bank account to another bank account.
See lessWhat is a collateral? What happens if a borrower fails to repay the loan? Give some examples of colllateral.
(a) Collateral is an asset that the borrow owns and uses this as a guarantee to a lenders until the loans is rapid. (b) If the borrower fails to repay the loan, the lender has the right to sell the asset or collateral to obtain payment. (c) Property such as land titles, deposits with banks, livestocRead more
(a) Collateral is an asset that the borrow owns and uses this as a guarantee to a lenders until the loans is rapid.
(b) If the borrower fails to repay the loan, the lender has the right to sell the asset or collateral to obtain payment.
(c) Property such as land titles, deposits with banks, livestock are some common examples of collateral used for borrowing.
See less“Deposits in the banks are beneficial to the depositors as well as to nation.” Examine the statement.
(a) Deposits are beneficial to the depositors as mentioned below: (i) Bank accept the deposit and pay as interest rate on the deposits. (ii) Money is safe with the bank. (iii) People (depositor) may withdraw the money as and when they require. (iv) Depositors may make payments through cheques insteaRead more
(a) Deposits are beneficial to the depositors as mentioned below:
(i) Bank accept the deposit and pay as interest rate on the deposits.
(ii) Money is safe with the bank.
(iii) People (depositor) may withdraw the money as and when they require.
(iv) Depositors may make payments through cheques instead of cash.
(b) Deposits are beneficial for the banks too as mentioned below:
(i) Banks keep only a small proportion of deposits. Now a days, banks keep you about 15 per cent as cash in order to pay the depositors who might come to withdraw money from the bank on any give day.
(ii) Bank use the major portion of the deposits to extend loans. There is huge demand for loans for various economic activities. Banks make use of the deposits to meet the loan requirements of the people. Businessmen and other entrepreneurs take loan s from the bank and open the factories. They help in the advancement of the economy. Thus the deposits are beneficial to the nation.
See lessWhy is modern currency accepted as a medium of exchanges without any use of its own? Find out the reason?
Modern currency accepted as the medium of exchange without any use of its own due to reason as mentioned below: (i) In India, the Reserve Bank of India issues currency notes on behalf of the central government. (ii) As per Indian law, no other individual or organisation is allowed to issue currency.Read more
Modern currency accepted as the medium of exchange without any use of its own due to reason as mentioned below:
(i) In India, the Reserve Bank of India issues currency notes on behalf of the central government.
(ii) As per Indian law, no other individual or organisation is allowed to issue currency.
(iii) The law legalises the use of rupee as a medium of payment that cannot be refused in settling transaction in India.
(iv) No individual in India can legally refuse a payment made in rupee. Hence the rupee is widely accepted as the medium of exchange.
See lessWhat is the meaning of Barter System? Why is double coincidence of wants is an essential feature of a Barter system?
(a) A system in which goods are directly exchanged without the use of money is called barter system. (b) Double coincidence of wants means when both the parties - seller and purchaser - ae agree to sell and buy each other's commodities. It implies that what a person desires to sell is exactly what tRead more
(a) A system in which goods are directly exchanged without the use of money is called barter system.
(b) Double coincidence of wants means when both the parties – seller and purchaser – ae agree to sell and buy each other’s commodities. It implies that what a person desires to sell is exactly what the other wishes to buy. No money is used in such an arrangement. Therefore it is an essential feature of barter system.
See less