With reference to the recent Monetary Policy Committee (MPC) statement, consider the following statements:1. Regional Rural Banks cannot issue Certificates of Deposit (CDs).2. National Automated Clearing House (NACH) to be available on all days of the week.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?

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With reference to the recent Monetary Policy Committee (MPC) statement, consider the following statements:

1. Regional Rural Banks cannot issue Certificates of Deposit (CDs).

2. National Automated Clearing House (NACH) to be available on all days of the week.

Which of the statements given above is/are correct?

a)
1 only
b)
2 only
c)
Both 1 and 2
d)
Neither 1 nor 2

Correct answer is option 'B'. Can you explain this answer?

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Daily Current Affairs MCQ- May 1, 2022

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With reference to the recent Monetary Policy Committee (MPC) statement...

The Monetary Policy Committee (MPC) at its meeting (June 4, 2021) decided to:

Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 4.0 per cent.
Keep the reverse repo rate under the LAF unchanged at 3.35 per cent
Keep the marginal standing facility (MSF) rate and the Bank Rate unchanged at 4.25 per cent.

Additional Measures announced by RBI to revive the economy

On-Tap Liquidity Window for Contact-Intensive sectors:
- A separate liquidity window of Rs. 15,000 Crore is being opened till March 31, 2022 with tenures up to three years, at the repo rate.
- Under this scheme, Banks can give fresh lending support to Contact-Intensive sectors like hotels, restaurants, travel, rent-a-car service providers and saloons.
Special Liquidity Facility of Rs. 16,000 Crore to SIDBI, for on-lending / refinancing through novel models and structures at Repo Rate, for a period of up to one year. This is to further support credit requirements of MSMEs, including those in credit-deficient and aspirational districts.
Expansion of coverage of borrowers under Stress Resolution Framework 2.0, by enhancing maximum aggregate exposure threshold from Rs. 25 Crore to Rs. 50 Crore for MSMEs, non-MSME small businesses and loans to individuals for business purposes.
Regional Rural Banks can now issue Certificates of Deposit (CDs). Further, all issuers of CDs will be permitted to buy back their CDs before maturity, subject to certain conditions. This will facilitate greater flexibility in liquidity management.
National Automated Clearing House (NACH) to be available on all days of the week (currently available only on bank working days), effective from August 1, 2021. NACH is a popular and prominent mode of direct benefit transfer to large number of beneficiaries.

Hence only statement 2 is correct.

Answered by Notes Wala · View profile

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With reference to the recent Monetary Policy Committee (MPC) statement, consider the following statements:1. Regional Rural Banks cannot issue Certificates of Deposit (CDs).2. National Automated Clearing House (NACH) to be available on all days of the week.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?

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