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

[UPSC Civil Services Exam – 2022 Prelims]

(a) Asian Development Bank

(b) International Monetary Fund

(c) United Nations Environment Programme Finance Initiative

(d) World Bank


Answer: (b)        

Explanation:

Rapid Financing Instrument (RFI):

  • Provides quick financial assistance to member countries facing urgent balance of payments needs.
  • Created as part of a broader IMF reform to make financial support more flexible for diverse member country needs.
  • Replaced the IMF’s previous emergency assistance policy.
  • Can be used in a wide range of circumstances.

Rapid Credit Facility (RCF):

  • Provides rapid concessional financial assistance to low-income countries (LICs) facing urgent balance of payments needs.
  • Created under the Poverty Reduction and Growth Trust (PRGT) as part of a broader IMF reform to make financial support more flexible for diverse LIC needs, including during crises.
  • No ex-post conditionality is required where a full-fledged economic program is neither necessary nor feasible for LICs.

Consider the following statements:                                                                   The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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Consider the following statements:                                                         The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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