CURRENT AFFAIRS

Detailed explanation-1: -Q. Which institution launched the ‘100 Days 100 Pays’ campaign? Notes: The Reserve Bank of India (RBI) has announced the launch of the ‘100 Days 100 Pays’ campaign by banks recently. It aims to trace and settle top 100 unclaimed deposits of every bank in every district of the country within 100 days.

Detailed explanation-2: -In India RBI is referred to as the lender of last resort. Reserve Bank of India is the central bank of India. At the time of liquidity crisis faced by the commercial banks, RBI gives loans to the commercial banks to meet their financial crisis and thus, it acts as a lender of last resort.

Detailed explanation-3: -The Reserve Bank of India, as the central bank of the country, functions as the sole bank with the right of issuing paper notes, it acts as banker to the Government, it is the banker to other bank and it regulates the flow of credit.

Detailed explanation-4: -The first prohibited function under Section 18 is that the RBI cannot grant loans or advances to any individual, corporation, or institution except under specific circumstances. The RBI may provide advances or loans to the government, or to other banks, but only for short periods and under strict conditions.