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With reference to the Urban Infrastructure Development Fund (UIDF) recently seen in news, consider the following statements:
- It will be established through the use of priority sector lending shortfall.
- It will be managed by the Industrial Development Bank of India (IDBI).
Which of the statements given above is/are not 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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With reference to the Urban Infrastructure Development Fund (UIDF) rec...
Explanation:
The Urban Infrastructure Development Fund (UIDF) has been recently in the news. Let's analyze the given statements:
Statement 1: It will be established through the use of priority sector lending shortfall.
This statement is correct. The Urban Infrastructure Development Fund (UIDF) is proposed to be established by the Reserve Bank of India (RBI) through the use of priority sector lending shortfall. The priority sector lending shortfall refers to the amount that banks are required to lend to specific sectors such as agriculture, small businesses, education, etc. If the banks fail to meet their priority sector lending targets, they are required to contribute to the UIDF.
Statement 2: It will be managed by the Industrial Development Bank of India (IDBI).
This statement is not correct. The UIDF will be managed by the National Bank for Agriculture and Rural Development (NABARD), not the Industrial Development Bank of India (IDBI). NABARD is a specialized development bank that focuses on financing and promoting rural and agricultural development projects. It plays a crucial role in providing credit and other financial services to rural areas.
Therefore, the correct answer is option B) 2 only.
The Urban Infrastructure Development Fund (UIDF) has been recently in the news. Let's analyze the given statements:
Statement 1: It will be established through the use of priority sector lending shortfall.
This statement is correct. The Urban Infrastructure Development Fund (UIDF) is proposed to be established by the Reserve Bank of India (RBI) through the use of priority sector lending shortfall. The priority sector lending shortfall refers to the amount that banks are required to lend to specific sectors such as agriculture, small businesses, education, etc. If the banks fail to meet their priority sector lending targets, they are required to contribute to the UIDF.
Statement 2: It will be managed by the Industrial Development Bank of India (IDBI).
This statement is not correct. The UIDF will be managed by the National Bank for Agriculture and Rural Development (NABARD), not the Industrial Development Bank of India (IDBI). NABARD is a specialized development bank that focuses on financing and promoting rural and agricultural development projects. It plays a crucial role in providing credit and other financial services to rural areas.
Therefore, the correct answer is option B) 2 only.
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With reference to the Urban Infrastructure Development Fund (UIDF) recently seen in news, consider the following statements: It will be established through the use of priority sector lending shortfall. It will be managed by the Industrial Development Bank of India (IDBI).Which of the statements given above is/arenotcorrect?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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