Who among the following are the beneficiaries of Ways and Means Advances (WMA) facility of Reserve Bank of India?
[A] Commercial Banks
[B] Regional Rural banks
[C] State Governments
[D] Authorized Dealers of Foreign Exchanges
Correct Answer: C [State Governments]
NOTES :- Simply put, it is a facility for both the Centre and states to borrow from the RBI. These borrowings are meant purely to help them to tide over
MORE QUESTIONS ABOUT INDIAN ECONOMY
8.IFSC is an alphanumeric code designed to uniquely identify the bank branches in India. This is an 11-digit code with the first four characters representing the bank’s code, the next character reserved as control character (currently, 0 appears in the fifth position) and remaining six characters to identify the branch. RBI has advised all banks to print IFSC on cheque leaves issued to customers. What is the full form for IFSC Code?