Game:

Counter-Strike: Source (2004)

Duration: 7:37

24 views

0

Read the passage given below and answer the questions that follow.
In India, the Reserve Bank of India issues currency notes on behalf of the Central
Government. As per Indian Law, no other
individual or organisation is allowed to issue
currency. Moreover, the law legalises the use of rupee as a medium of payment that cannot be refused in setting transactions in India.
No individual in India can legally refuse a payment made in rupees. Hence, the rupee is widely accepted as a medium of exchange.
The other form in which people hold money is as deposits with banks. At a point of time, people need only some currency for their day-to-day needs. For instance, workers who receive their salaries at the end of each month have extra cash at the beginning of the month.
What do people do with this extra cash? They deposit it with the banks by opening a bank account in their name. Banks accept the deposits and also pay an amount as interest on the deposits.
In this way people's money is safe with the banks and it earns an amount as interest. People also
have the provision to withdraw the money as and when they require. Since the deposits in the bank accounts can be withdrawn on demand, these deposits are called demand deposits.
(i) Why is there a need to legalise rupee as a medium of exchange?
(ii) Mention two uses of opening a bank account by the people.
(iii) How demand deposits are useful for the banks as well as for the people?

📲PW App Link - https://bit.ly/PW_APP
🌐PW Website - https://bit.ly/PW_APP

📌 PHYSICS WALLAH OTHER CHANNELS :

🌐 PhysicsWallah -Alakh Pandey: https://youtube.com/@PhysicsWallah
🌐 Alakh Pandey: https://youtube.com/@alakhpandey1414
🌐 JEE Wallah: https://youtube.com/@jee_wallah
🌐 Competition Wallah: https://youtube.com/@competitionwallah
🌐 PW Foundation: https://youtube.com/c/PhysicsWallahFoundation
🌐 NCERT Wallah : https://www.youtube.com/channel/UC8zCnnfhz-dvIpVdZ1CheuA
🌐 Defence Wallah-NDA: https://youtube.com/channel/UC8OCoGX9tmMneOzIFUTWq2Q
🌐 PhysicsWallah English: https://youtube.com/@EnglishPW
🌐 PW Vidyapeeth: https://youtube.com/@VidyapeethPW
🌐 Commerce Wallah by PW: https://youtube.com/@commercewallahpw
🌐 CA Wallah bt PW: https://www.youtube.com/channel/UC2amkJX5zDyQJ0mDajAWRSA
🌐 PW Sarkari Exam: https://youtube.com/@PWSarkariExams
🌐 PW - Hindi Medium: https://youtube.com/@physicswallahhindimedium
🌐 PW Bangla: https://youtube.com/@pwbangla
🌐 PW Maharashtra: https://youtube.com/@PWMaharashtra
🌐 PW Telugu: https://youtube.com/@PWTelugu
🌐 PW Kannada: https://youtube.com/@PWKannada
🌐 PW Gujarati: https://youtube.com/@PWGujarati
🌐 PW Facts: https://youtube.com/@pwfacts
🌐 PW Insiders: https://youtube.com/channel/UCHMWQFr9Nwo3wJsAap2Wnfw
🌐 PW Little Champs: https://youtube.com/@pwlittlechamps
🌐 PW Pathshala: https://youtube.com/channel/UCcXUY9NSMyYbkOvUD97CUmA
🌐 Banking Wallah : https://www.youtube.com/channel/UCg5_K50hLTKerLkSE7I1yWQ
🌐 SSC Wallah : https://www.youtube.com/channel/UCcaEVV7A47J4k9GFcqOOYkg
🌐 JEE Challengers by PW : https://www.youtube.com/channel/UCyf71tWV2abeN-l_UKiJ-5g
🌐 UPSC Wallah : https://www.youtube.com/channel/UCqOy6oOu6RPJNHYQ8f_Ybvg
🌐 UPSC Wallah हिन्दी : https://www.youtube.com/channel/UCmrP-DYdZuThp8AO9lnnwNw
🌐 GATE Wallah : https://www.youtube.com/channel/UC9PoSJoftLvEnXT-PtQ5Wtw
🌐 GATE Wallah - EC,EE & CS : https://www.youtube.com/channel/UCuGWIkiNaWjsCqybgxGuxfg
🌐 GATE Wallah - ME, CE & XE : https://www.youtube.com/channel/UCGrrw9x3_B_fItUIBMvqAUw
🌐 GATE English : https://www.youtube.com/channel/UCOsV75fSUr8gnMbhx-Qh3Lg
🌐 College Wallah : https://www.youtube.com/channel/UCDrf0V4fcBr5FlCtKwvpfwA
🌐 PW IIT JAM & CSIR NET : https://www.youtube.com/channel/UCuj28Zll58sztDqLiDhzgtQ
🌐 MBA Wallah : https://www.youtube.com/channel/UCWWEvCschv0T0rtou4VaKGw
🌐 Teaching Wallah : https://www.youtube.com/channel/UCUzqJZOkCejFoc5eqWWA9Eg

📌 PHYSICS WALLAH SOCIAL MEDIA PROFILES :

🌐 Telegram : https://t.me/pwjeewallah
🌐 Facebook : https://www.facebook.com/physicswallah
🌐 Instagram : https://www.instagram.com/pwjee_wallah/?hl=en
🌐 Twitter : https://twitter.com/physics__wallah
🌐 Linkedin : https://www.linkedin.com/company/78087354/admin/

📌 For any queries or complaints Visit : https://bit.ly/PW_Queries

Other Statistics