Banks and the Magic of Finance
Class 7 · Social Science Part 2 · 11 Questions
What is financial infrastructure? How does it complement physical infrastructure?
How does having a bank account help people? Should everyone be required to have a bank account?
What could be the possible advantages and disadvantages of compound interest for savers and borrowers?
How does financial infrastructure enable the flow of money between households and businesses? Can you think of how the government can facilitate this flow?
What could be the reason for the higher interest rate earned on fixed deposits as compared to a savings account?
Sahil received ₹10,000 as a prize in a poster-making competition. His father promises to pay him 12 per cent interest per year if he does not spend the amount. After 3 years, how much money would Sahil have?
How does the stock market help mobilise the savings of individuals? In what ways do companies benefit by issuing shares to people?
How can we balance the convenience of digital payments with the risk of cyber fraud?
Why does Navdeep think that saving at the bank is better than keeping cash at home?
Can Navdeep and Rima lend to each other directly without the bank? What could happen in that case? Discuss.
Why do companies issue shares, and why do people buy them? Are there any benefits of owning shares?