With a view to enlarge resources available to RRBs for a variety of purposes, especially in the context of programme of financial inclusion, general credit card etc, Reserve Bank advised that

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	sponsor banks should provide them lines of credit at a reasonable rate of interest
B	RRBs may borrow from/or place funds with other RRBs, including those sponsored by other banks, subject to counter party Credit Risk Policy and limits
C	RRBs may enter into ready forward transactions in government securities with Subsidiary General Ledger (SGL), Constituent Subsidiary General Ledger (CSGL) account holders
D	All of the above

Explanation:

Detailed explanation-1: -The Pradhan Mantri Jan Dhan Yojana (PMJDY) and National Strategy for Financial Inclusion (NSFI) 2019-2024 has given a further fillip to these efforts.

Detailed explanation-2: -The Correct answer is PMJDY. PMJDY: Stands for Pradhan Mantri Jan Dhan Yojna. It is a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

Detailed explanation-3: -Setting up of National Centre for Financial Education (NCFE) by the Regulators and implementation of the Centre for Financial Literacy (CFL) project of RBI are two recent initiatives towards improving financial literacy.

There is 1 question to complete.