Question Discussion & Solution

The correct answer is Cash reserve ratio.

Key Points

• The Cash Reserve Ratio (CRR) refers to the share of Net Demand and Time Liabilities that banks have to hold as balances with the RBI.
• The objective of CRR is to keep inflation under control.
• During high inflation in the economy, the central bank raises the CRR to lower the bank’s loanable funds.
• The current Cash Reserve Ratio is 4.00% (as of June 2021).
• The current Reverse repo rate is 3.35% (as of June 2021).
• The Central bank has the authority to regulate monetary policies.
• The Ministry of Finance has the authority to regulate fiscal policies.

Additional Information

• Marginal Standing facility:
  • MSF is a facility under which scheduled commercial banks can borrow an additional amount of overnight money from the RBI by dipping into their SLR portfolio up to a limit at a penal rate of interest. 
  • This provides a safety wall against unanticipated liquidity shocks to the banking system.
  • The MSF is a scheme launched by RBI in 2011-12.
  • Under MSF banks can borrow funds up to 1% of their net demand and time liability.
  • The minimum amount for which RBI receives application is Rs. 1 crore and afterwards in multiples of rupees 1 crore.
• ​SLR is a kind of reserve that commercial banks need to maintain before crediting their money to borrowers.
  • Regulating the SLR rates is a component of RBI's monetary policy.
  • Reserve Bank of India sets the limit for banks (under Banking Regulation Act, 1949) to hold a certain proportion of their assets as SLR.
• Repo Rate:- It is a rate at which the central bank (RBI) lends money to its clients against the government securities.
• Reverse Repo- It is the rate at which the central bank (RBI) borrows money from its clients.
  • Reverse Repo is used in India as a tool in which banks will give their surplus fund to RBI for a short-term period and earn money.
  • The repo rate is always higher than the reverse repo rate.
  • Repo and Reverse repo rates are decided by the Monitory policy committee (MPC) of RBI.

The correct answer is 7 April 2013.

• Mukhyamantri Nishulk Jaanch Yojna (MNJY) was launched on 7 April 2013.

Key Points

Mukhyamantri Nishulk Jaanch Yojna (MNJY):

Additional Information

• Mukhyamantri Nishulk Jaanch Yojna (MNJY):
  • This scheme is not only to make the tests available free of cost but through this scheme, strengthening of the medical services has been done at all the state hospitals of Rajasthan.
  • The main aim of the scheme is to strengthen the existing laboratories and other diagnostic facilities in all public health institutions.
  • The scheme has been implemented uniformly across all districts of the State.
  • The benefits of the scheme have been extended to the entire population of 7 Crore.

The correct answer is 2002 AD.

Key Points 

• Rajasthan Renewable Energy Corporation-
  • Established - 9 August 2002 AD
  • Headquarter - Jaipur
  • This entity was the result of the Rajasthan State Power Corporation Ltd merger with the Rajasthan Energy Development Agency.
  • This entity does work in the field of renewable energy production and capacity building.
  • This entity was awarded the IIMA power award.

Key Points

• Rajasthan Renewable Energy Corporation Limited (RRECL) was formed in August 2002 by amalgamating the erstwhile REDA (Rajasthan Energy Development Agency) and Rajasthan Rajya Vidyut Nigam Limited (RSPCL).
• The corporation is registered under the Companies Act 1956.
• RRECL is acting as a state nodal.
• Agency to promote and develop non-conventional energy sources in the State and as State Designated Agency (SDA) to implement the provisions of Energy Conservation Act 2001 in the State 

Additional Information

• Rajasthan State Power Corporation Ltd. was established in 2002 AD.
• Rajasthan Energy Development Agency was established on 21 January 1985 AD.

The correct answer is Department for Promotion of Industry and Internal Trade.

Key Points

• Department for Promotion of Industry and Internal Trade is the nodal department for the formulation of the policy on Foreign Direct Investment (FDI).
  • It is a central government department under the Ministry of Commerce and Industry.
  • It controls the maintenance and management of data on inward FDI into India.
  • The Department for Promotion of Industry and Internal Trade plays a vital role in the liberalization and rationalization of the FDI policy.

 Additional Information

The correct answer is Orphan children.

• Palanhar Yojana of the Rajasthan government is associated with orphan children.

Key Points

• Palanhar Yojana
  • ​This scheme was launched in 2004-05 for the care and up keeping of Orphan children.
  • A person (normally a near relative) taking responsibility for caring and bringing up such a child is called "Palanhar".
  • In this Scheme `500 per month is given for the children of 0-6 years who go to Anganwari and `1,000 per month is given for school going children of age 6-18 years and an annual grant of `2,000/-.

Additional Information

• Mukhya Mantri Hunar Vikas Yojana
  • This scheme is for higher education/skill development programme to beneficiaries of PalanharYojana and children staying in Government and Non-government Institutional Homes.