Tamil Nadu Board 11th Standard Commerce - Chapter 12: Book Back Answers and Solutions
This post covers the book back answers and solutions for Chapter 12 – Commerce from the Tamil Nadu State Board 11th Standard Commerce textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.
We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.
By going through this material, you’ll gain a strong understanding of Commerce Chapter 12 along with the corresponding book back questions and answers (PDF format).
Question Types Covered:
- 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following
- 2 Mark Questions: Answer briefly
- 3, 4, and 5 Mark Questions: Answer in detail
All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.
All the best, Class 11 students! Prepare well and aim for top scores. Thank you!
Chapter 12: FUNCTIONS OF COMMERCIAL BANKS
I. Choose the correct answer
(a) Computers
(b) Mobile phones
(c) ATM
(d) All of the above
Answer Key:
(d) All of the above
II. Very Short answer questions
1. What is Mobile Banking? - Most of the commercial banks have designed computer programs called apps which can be downloaded in smartphones.
- With this app in the Smartphone a customer can operate his account transactions from anywhere.
- This service is known as mobile banking.
2. Write a short notes on Debit card.
- ATM card is also called debit card.
- This card is more useful in purchase of goods and services anywhere in India, if the shop maintains swiping machine facility.
3. Write a short notes on Credit card.
- Banks issue credit cards to customers and other eligible persons.
- With this card, the holder can purchase goods and services on credit at any shop in India.
- If the dues are paid within the stipulated time no interest is charged.
4. What do you mean by ATM?
- Debit card is also called ATM card.
- This card is more useful in purchase of goods and services anywhere in India.
- RuPay cards services were launched in March 2012 by the National Payments Corporation of India.
III. Short answer questions
1. What is E-Banking? - Internet banking refers to performing banking operations through internet, using computers and mobile phone.
- This can be done by a customer from home or office or any part of the world and all 24 hours of 7 days.
2. Write a short note on – RTGS.
- It was launched by the RBI in 2013.
- The transactions are settled on real time basis.
- Gross settlement means the transaction is settled between one bank and another bank without adding any other transactions.
3. Explain – NEFT
- This was launched by the RBI in 2005.
- Under this electronic funds transfer system, bulk transfer of transactions are settled in batches during specific timings across India.
- Individuals and institutions which maintain accounts with a NEFT enabled bank branch are eligible for using NEFT
IV. long answer questions
1. Discuss the various primary functions performed by the Commercial Banks. (any 5) I. Accepting Deposits
- The basic deposit accounts offered by commercial banks are listed below.
- In these days banks compete with each other to attract customers by adding facilities to these deposit accounts.
2. Current Deposits
3. Fixed Deposits (FD)
4. Recurring Deposits (RD)
II. Granting Loans and Advances
- The second primary function of commercial banks is lending money in order to earn interest income.
- Banks provide specific sums as loans which are repayable along with interest.
2. Cash Credit
3. Discounting of Bills
4. Housing Loan
5. Consumer Loan
6. Vehicle Loan
III. Creation of Credit
- Apart from the currency money issued by the RBI,
- The credit money in circulation created by commercial banks influence economic activities of a country to a large extent.
I. Agency Functions:-
Banks act as agents of customers and provide certain services.
1. Transfer of Funds:
- Banks issue demand drafts, bankers’ cheques, travelers’ cheques, etc.
- Banks buy and sell foreign currencies on behalf o customers.
- Banks act as correspondent of customers and receive travel ticket, passport, etc.
1. Safety lockers:
- Valuable documents, jewels, etc. can be kept safely in a vault provided by bank for a rent.
- Customers need not carry cash during travel in India or abroad.
- These denomination printed cheques are available in attractive design so that it can be presented during wedding, birthday functions, etc.
0 Comments:
Post a Comment