Current Affairs: Passage of the Day - 10 December 2024 | Current Affairs: Daily, Weekly & Monthly - CLAT PDF Download

Directions: Read the passage carefully and answer the questions that follow.
The Reserve Bank of India has decided to launch podcasts to improve communication and effectively share information of public interest. This podcast continues the many initiatives the apex bank took over the past years to expand its communication toolkit to enhance transparency and facilitate better connections with people.
Shaktikanta Das, the RBI governor on Friday said, "I think podcast as an instrument of communication has become popular, particularly among the youngsters. So we at the RBI though this was the requirement of the time. Also, I think we should be ahead of the curve. It's basically a communication tool to communicate with the wider section of the people."
He also added that podcasts will help to elaborate things simply among the wider section of the society.
In recent years, the RBI, as the central bank, has expanded its public awareness initiatives, incorporating both traditional and modern communication methods. This approach forms a key part of its strategy to enhance transparency, clarify the rationale behind its decisions, and spread awareness messages to a broader audience.
In a separate decision during the review meeting, the RBI's Monetary Policy Committee also opted to maintain the repo rate at 6.5 percent for the 11th consecutive time, continuing its neutral monetary policy stance.
The RBI has lowered its GDP growth forecast for 2024-25 to 6.6 percent, down from the earlier projection of 7.2 percent. Additionally, the RBI Governor announced a 50 basis point reduction in the CRR, from 4.5 percent to 4 percent, which is expected to inject Rs 1.15 lakh crore of liquidity into the banking system.
Additionally, the retail inflation projection for 2024-25 has been hiked from 4.5 per cent to 4.8 per cent.
[Excerpt from TOI "RBI Launches Podcast Series for Public Communication" Dated 10/12/24]

Q1: What is the main purpose of the RBI's newly announced podcast series?
(a) Entertainment and culture promotion
(b) Enhancing public communication and financial literacy
(c) Promoting Indian music and art
(d) Advertising banking services

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Q2: What recent decision has the RBI made regarding the Cash Reserve Ratio (CRR)?
(a) Increased the CRR
(b) Reduced the CRR
(c) Removed the CRR requirement
(d) No changes to the CRR

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Q3: In which language has the RBI released financial education booklets to promote rural financial literacy?
(a) Hindi
(b) Bengali
(c) Santali (Ol Chik)
(d) Tamil

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Q4: What is the primary objective of the RBI's committee FREE-AI?
(a) To regulate blockchain technology
(b) To manage AI-related risks in finance
(c) To promote AI startups
(d) To replace traditional banking systems with AI

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Q5: What segment of the population is targeted by the RBI's financial education initiatives?
(a) Only senior citizens
(b) Urban entrepreneurs
(c) Children, farmers, entrepreneurs, and senior citizens
(d) Corporate executives

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