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Money and Credit Book Back Questions 9th Social Science Lesson 28

9th Social Science Lesson 28

28] Money and Credit

Book Back Questions with Answer and Do You Know Box Content

Do You Know?

During his rule (1540-1546) Sher Shah Suri set up a new civic and military administration and issued a coin of silver weighing 178 grams, which was termed the Rupiya. The silver coin remained in use during the Mughal period, the Maratha era and in British India as well.

Dr. B.R. Ambedkar’s Ph.D thesis on “The Problem of the Rupee – Its origin and solution” was the reference tool and provided guidelines for the Reserve Bank of India Act of 1934.

How is currency printed in India? One rupee and two rupee notes were first printed in India in the year 1917. The Reserve Bank of India is empowered to issue the Government of India notes since 1935. 500 rupee note currency was introduced later. In 1940, one Rupee notes were issued again. Till 1947, the currency notes with the image of King George VI were in circulation. After Independence, the Government of India issued currency notes. In 1925, the British government established a government press at Nasik in Maharashtra. Currencies were printed three years later. In 1974, a press was started in Dewas, Madhya Pradesh. (Security Printing and Minting Corporation of India Ltd.) In the 1990s, two more presses were started in Mysuru, Karnataka and Salboni in West Bengal to print bank notes. The Reserve Bank of India has the authority to decide the value of currency to be printed and how the amount should reach its destination safely. Though the RBI has the power to print up to ten thousand rupee notes, at present a maximum of up to rupees two thousand is printed.

Choose the best answers:

1. Certain metals like _____________ (gold/iron) were used as a medium of exchange in ancient times.

2. The Head Quarters of the RBI is at _____________ (Chennai/Mumbai) .

3. International trade is carried on in terms of ___________ (US Dollars/Pounds) .

4. The currency of Japan is _________ (Yen/Yuan) .

Fill in the blanks:

1. ____________ system can be considered as the first form of trade.

2. Money supply is divided into _____________

3. The first printing press of the RBI was started at ____________

4. _____________ act as a regulator of the circulation of money.

5. The thesis about money by B.R. Ambedkar is ______________

Match the following:

1. US Dollar – Automatic Teller Machine

2. Currency in circulation – Substitute of money

3. ATM – Universally accepted currency

4. Salt – Saudi Arabia

5. Riyal – 85%

Consider the following the statements and tick the appropriate answer:

a) 1. The barter system flourished wherever civilizations thrived.

2. This was the initial form of trade.

(i) 1 is correct; 2 is wrong

(ii) Both 1 and 2 are correct

(ii) Both 1 and 2 are wrong

(iv) 1 is wrong; 2 is correct

b) 1. Most of the international trade transactions are carried out in US dollars.

2. No other country except the US carries out trade in the world.

(i) Both the statements are correct

(ii) Both the statements are wrong

(iii) 1 is correct; 2 is wrong——–

(iv) 1 is wrong; 2 is correct

Answers:

Choose the best answer:

1. Gold 2. Mumbai 3. US Dollars 4. Yen

Fill in the blanks:

1. Barter 2. Four 3. Nasik in Maharashtra 4. The Reserve Bank of India 5. The problem of the Rupee- its origin and solution

Match the following:

1. Universally accepted currency 2. 85% 3. Automated Teller Machine 4. Substitute of money 5. Saudi Arabia

Consider the following the statements and best answer:

a) Both 1 and 2 statements are correct.

b) Statement 1 is correct; 2 is wrong

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