CURRENT AFFAIRS

2021

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is the rank of India in terms of surplus reserve transfer to government by its Central Bank as a percentage to GDP for FY22?
A
Fourth
B
First
C
Second
D
Third
Explanation: 

Detailed explanation-1: -Mumbai: The Reserve Bank of India (RBI) will transfer ₹30, 307 crore as surplus to the government for the last fiscal, down 69% from the ₹99, 126 crore sent the year earlier.

Detailed explanation-2: -Taking all these factors into consideration, real GDP growth for 2022-23 is projected at 6.8 per cent, with Q3 at 4.4 per cent and Q4 at 4.2 per cent. The risks are evenly balanced. Real GDP growth is projected at 7.1 per cent for Q1:2023-24 and at 5.9 per cent for Q2.

Detailed explanation-3: -MUMBAI: The Reserve Bank of India (RBI) was second only to Turkey in terms of reserves transferred to the government as a percentage of gross domestic product (GDP) for the fiscal year 2020-21.

Detailed explanation-4: -The act mandates that profits made by the central bank from its operations be sent to the Centre. As the manager of its finances, every year the RBI also pays a dividend to the government to help with the finances from its surplus or profit.

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