SEBA Class 8 Social Science Chapter 24 Role of Financial Institutions and Organisations in Socio-Economic Development

SEBA Class 8 Social Science Chapter 24 Role of Financial Institutions and Organisations in Socio-Economic Development Solutions English Medium As Per New Syllabus Provided by The Roy Library. SEBA Class 8 Social Science Chapter 24 Role of Financial Institutions and Organisations in Socio-Economic Development Notes is made for SEBA English Medium Students. SEBA Class 8 Social Science Question Answer We ensure that You can completely trust this content. If you learn PDF Then you can Download Now PDF. I hope You Can learn Better Knowledge.

SEBA Class 8 Social Science Chapter 24 Role of Financial Institutions and Organisations in Socio-Economic Development

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Role of Financial Institutions and Organisations in Socio-Economic Development

Exercise

1. Write short answer:

(a) What does a government do for the socio-economic development of the country?

Ans: A government takes up different types of programme, schemes and projects for the socio-economic development and implements them.

(b) Name some factors of economic development. 

Ans: Roads, bridges, buildings, transport, communication, irrigation, drinking water, hospitals, schools, sanitation, electricity, telephone etc.

(c) What are financial institutions and establishments?

Ans: Financial institutions and organisations accelerate the overall development of a country.

(d) Write two important functions of a bank.

Ans: 1. Banks accept deposits from the people.

2. Banks provide loans to the people.

(e) What is the name of the Central Bank in India?

Ans: The Reserve Bank of India.

(f) Where are the products produced with the assistance with NEDFI?

Ans: The products produced with the assistance of NEDFI are sold at NEDFI Haat at Ambari in Guwahati.

2. Discuss in details:

(a) Contribution of Commercial Bank in the socio-economic development

Ans: Commercial Bank is the most important part of the Indian banking system.

People can deposit their savings in commercial banks and can also apply for loans if they need.

Commercial banks provide long-term and short-term loans to customers.

Loans are provided to industrialists, farmers, artisans, service holders, students, etc.

Commercial banks help in raising savings and providing personal loans to the public.

Thus, Commercial Banks play an important role in the socio-economic development of the country.

(b) Role of North Eastern Council and North-East Development Finance Corporation Limited (NEDFI) in the economic development of North-East India.

Ans: The North-Eastern Council (NEC) was formed in 1971 for the overall development of North-East India.

The aims of NEC are to develop socio-economic condition, maintain equilibrium and unity among the states of North-East India.

North-East Development Finance Corporation Limited (NEDFI) was established in 1995.

Its head office is in Guwahati.

NEDFI provides financial assistance to agriculture, small industries, cottage industries, handloom industries, Self-help Groups etc.

Thus, NEC and NEDFI play an important role in the economic development of North-East India.

(c) Aims and objectives of Self-help Groups.

Ans: 1. To develop energy and perseverance to work collectively by forming Self-help Groups.

2. To provide an opportunity to approach financial institutions for loans.

3. To involve the members collectively in economic programmes.

4. To develop the practice of savings in the members of a group.

5. To create awareness among the rural people to develop an attitude to help oneself.

6. To establish correspondence with financial institutions and help in getting loans collectively.

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SEBA Class 8 Social Science Textual [New Edition Updated]

Sl. No.	CONTENTS
Chapter – 1	Natural Resources
Chapter – 2	Population Growth and Distribution
Chapter – 3	Settlement
Chapter – 4	Settlement: Rural and Urban Life
Chapter – 5	The Oceans and Seas
Chapter – 6	Industry and Transport System of India
Chapter – 7	Rivers of Assam
Chapter – 8	Application of Technology in the Study of Geography
Chapter – 9	Medieval Assam
Chapter – 10	Ancient Kamrupa
Chapter – 11	Assamese Society in Medieval Age
Chapter – 12	The Rise of Neo-Religious Thoughts
Chapter – 13	Mercantilism and Advent of the European Traders to India
Chapter – 14	The Establishment, Expansion and Consolidation of British Rule in India
Chapter – 15	The East India Company and its Reforms in India
Chapter – 16	The Fall of the Ahom Kingdom in Assam and the Rise of the British
Chapter – 17	The Revolt of 1857
Chapter – 18	The Constitution and its Necessity
Chapter – 19	Indian Constitution
Chapter – 20	Fundamentals Right
Chapter – 21	Our Fundamental Duties
Chapter – 22	Human Resource Development its Indicators and Role of Vocational Education
Chapter – 23	Problems of Human Resource Development and Role of Government
Chapter – 24	Role of Financial Institutions and Organisations in Socio-Economic Development
Chapter – 25	Consumer Awareness, Rights and Protection