NCERT Solutions for Class 7 SST Part 2 Chapter 8 Banks and the Magic of Finance The Big Questions (Page 193) Question 1. What is financial infrastructure, and what does it comprise? Answer: Financial infrastructure is the system that supports the flow of money in an economy. It includes banks, payment systems, ATMs, post offices, stock markets, and other institutions that help people save, borrow, and transfer money. Question 2. What are the main functions performed by banks and how do they impact people’s lives? Answer: Banks perform many important functions such as accepting deposits, giving loans, and offering payment services. They keep people’s money safe, encourage regular savings, and allow easy withdrawal through ATMs, debit cards, online payments or cheques. Banks also help businesses by giving loans for starting and expanding their work. Question 3. How does financial infrastructure contribute to a nation’s progress? Answer: Financial infrastructure encourages savi...
NCERT Solutions for Class 7 SST Part 2 Chapter 7 Infrastructure: Engine of India’s Development The Big Questions (Page 169) Question 1. What is physical infrastructure, and how has it transformed over the years in India? Answer: Physical infrastructure refers to all tangible systems and facilities that support daily life and economic activities, including roads, bridges, railways, metro trains, airports, electricity, water supply, and communication networks. In India, infrastructure has evolved significantly over the years. During the British period, basic roads, trade routes, and railways were mainly built for trade and transport. After independence, highways, bridges, and railway networks expanded, connecting towns, cities, and villages. In modern times, metro systems, airports, renewable energy projects, and high-speed trains have made infrastructure faster, more efficient, and technology-driven. Question 2. How has the expansion in infrastructure affected the quality of life f...