2. What is check? How payments made with cheques? Explain with example.
3. How does RBI control the functioning of other banks? Why it is important
4. Why people take more loan from Informal Sector.
5. Compare the employment conditions prevailing in the organised and
unorganised sectors.
6. Explain the objective of implementing the NREGA 2005.
please answer these questions....
Answers
Answer:
1)A cheque, or check , is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. ... Cheques are a type of bill of exchange and were developed as a way to make payments without the need to carry large amounts of money.
2)RBI controls the commercial banksviavarious instruments like Statutory Liquidity Ratio (SLR), Cash Reserve Ratio (CRR), Bank Rate, Prime Lending (PLR), Repo Rate, Reverse Repo Rate and fixing the interest rates and deciding the nature of lending to various sectors.
3)(i) Banks are not present everywhere in rural India. (ii) Even when they are present, getting a loanfrom a bank is much more difficult than taking a loan from informalsources. (iv) Informal lenders like moneylenders, know the borrower personally and hence, are often willing to give a loan without a collateral .
4)The employment conditions prevailing in the organised andunorganised sectors are vastly different. ... it offers Job security, paid holidays, pensions, health and other benefits, fixed working house and extra pay for overtime work. On the other hand, the unorganised sector is a host of opposites.
5)The objective of implementing the NREGA 2005 was to provide 100 days of guaranteed employment to those people in rural India who can work, and are in need of work. ... If the government is unable to provide this employment, then it has to give unemployment allowances to the people......
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Explanation:
2)cheque is an order to a bank to pay a stated sum from the drawer's account .
payment are made with cheque as there are various details written on it by the drawer including the monetary amount, payee on the cheque, date and signature, ordering their bank
to pay the amount stated on the cheque to the person or a company
3)RBI controls many banks through various instruments like (SLR) , (CRR), (PLR) etc.
RBI commands the commercial bank in fixing interest percent and deciding the nature of lending to various sectors.
it is important because if banks are left to decide their own interest rates then the interest rates might not be suitable for many people.
4) pepole take loan from informal sectors because some of the people might not have the co-lateral as the commercial banks ask for a co-lateral.
5) As we say about organised sectors the jobs are secure in organised sectors whereas jobs in unorganised sectors aren't so secure.
organised sector offers paid holidays whick lacks in unorganised sectors.
There are many other benifits in organised sectirs like health , pension etc.
6) The objectives are:-
To provide 100 days assured employment to those people in rural india who has skill and are willing to work
If the government fails to provide employment,
then govt. has to provide allowances as they were unemployment so that they could set up some business of their own....
Hope this helps you... :)