Rapid Financing Instrument and Rapid Credit Facility are related to the provisions of lending by which one of the following?

UPSC Prelims & Mains Questions

"Rapid Financing Instrument" and "Rapid Credit Facility" are related to the provisions of lending by which one of the following?

A)

Asian Development Bank

B)

International Monetary Fund

C)

United Nations Environment Programme Finance Initiative

D)

World Bank

Correct Answer : Option (B) - International Monetary Fund

Note : The Rapid Financing Instrument (RFI) provides rapid financial assistance, which is available to all member countries facing an urgent balance of payments need. The RFI was created as part of a broader reform to make the IMF’s financial support more flexible to address the diverse needs of member countries. The RFI replaced the IMF’s previous emergency assistance policy and can be used in a wide range of circumstances.

Year : 2022

Category : General Studies

Recently Updated in UPSC Questions

Q.

With reference to 'IFC Masala Bonds', sometimes seen in the news, which of the statements given below is/ are correct? (2016)

1. The International Finance Corporation, which offers these bonds, is an arm of the World Bank.

2. They are rupee-denominated bonds and are a source of debt financing for the public and private sector.

Select the correct answer using the code given below:

A)

1 only

B)

2 only

C)

Both 1 and 2

D)

Neither 1 nor 2

Correct Answer : Option (C) - Both 1 and 2

Note :

* The World Bank Group, which is a vital source of financial and technical assistance to developing countries, consists of five distinct yet complementary organizations, viz.,

* International Bank for Reconstruction and Development (IBRD),

* International Development Association (IDA),

* International Finance Corporation (IFC), hence, statement 1 is correct.

* Multilateral Investment Guarantee Agency (MIGA),

* International Centre for Settlement of Investment Disputes (ICSID).

* Masala Bonds are rupee-denominated borrowings issued by Indian entities in overseas markets. Masala means ‘spices’ and the term was used by International Finance Corporation (IFC) to popularise the culture and cuisine of India on foreign platforms. The objective of Masala Bonds is to fund infrastructure projects in India, fuel internal growth via borrowings and internationalize the Indian currency. Hence, statement 2 is correct.

Year : 2022

Category : General Studies

Q.

Consider the following statements:

1. The Accelerated Irrigation Benefits Programme was launched during 1996-97 to provide loan assistance to poor farmers.

2. The Command Area Development Programme was launched in 1974-75 for the development of water-use efficiency,

Which of the statements given above is/ are correct?

A)

1 only

B)

2 only

C)

Both 1 and 2

D)

Neither 1 nor 2

Correct Answer : Option (B) - 2 only

Note :

The Accelerated Irrigation Benefits Programme (AIBP) was launched in 1996 as a central assistance programme, with the aim to accelerate creation of irrigation potential.

The Command Area Development (CAD) programme was initiated in 1974-75 with a view to bridging the gap between the potential created and its utilisation and optimising agricultural productivity through better management of land and water use in the command areas served by selected major and medium irrigation projects.

Year : 2015

Category : General Studies

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