37. Banking, Finance and Insurance Sectors

The GST council has decided a four tier structure of taxation to cover most goods and services. Which of the following is a correct group of these four tiers?

5%, 10%, 15% and 20%

5%, 12%, 18% and 22%

5%, 12%, 18% and 28%

5%, 13%, 18% and 32%

What is the current Fund transaction limit under Unified Payments Interface (UPI)?

Rs. 50,000

Rs. 100,000

Rs. 200,000

Rs. 20,000

Bank Rate is defined as the rate at which:

RBI lends short term loans to commercial banks

a commercial bank can lend to its customers

RBI lends long term loans to commercial banks

the commercial banks are able to borrow overnight funds from RBI

Which of the following statements is correct about the chairperson of Monetary Policy Committee (MPC)?

The chairperson of the committee is appointed by the RBI Governor

RBI Governor is the ex officio Chairperson of the committee

Finance Minister is the ex-officio chairperson of the committee

The Chairperson of the committee is appointed by the Finance Minister

The rate at which RBI purchases or rediscounts bills of exchange of commercial banks is called?

Repo rate

Reverse repo rate

Bank rate

Base rate