CURRENT AFFAIRS

2022

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

Which state has accounted for the highest share of the total cost of projects sanctioned by banks and financial institutions in FY22?

A	Maharashtra
B	Haryana
C	Gujarat
D	Rajasthan

Explanation:

Detailed explanation-1: -Rajasthan accounted for highest share in cost of projects sanctioned by banks in FY22: RBI article - The Hindu BusinessLine.

Detailed explanation-2: -Notes: Rajasthan accounted for the highest share in the total cost of projects sanctioned by banks and financial institutions in 2021-22. As per an article published in RBI bulletin, Rajasthan has retained the top place for two consecutive years.

Detailed explanation-3: -The two major “state-level institutions” are, namely, “State Financial Corporations (SFCS)” and “State Industrial Development Corporations (SIDs)”.

Detailed explanation-4: -As of September 2022, there were 34 private and public banks licensed in India. In comparison to 2017, the number of public banks decreased due to merging activities. Until the market liberalization of the early 1990s nearly all banks in India had been nationalized.

Detailed explanation-5: -The cost of funds is the interest rate that financial institutions are paying on the funds they use in their business.

There is 1 question to complete.