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GS Paper IUPSC Prelims 2022
Indian Economic Planning & Growth
Question No. 249Interactive Test Mode
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Q249. “Rapid Financing Instrument” and “Rapid Credit Facility” are related to the provisions of lending by which one of the following?

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

Select the correct option below (or cross out options to eliminate)
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Official Answer Key & Detailed Solution

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Official UPSC Answer KeyUPSC Prelims 2022 • Indian Economy

Correct Answer: Option (B) — International Monetary Fund

Concept & Option Breakdown

Standard Reference Verified
  • Rapid Financing Instrument (RFI) and Rapid Credit Facility (RCF) are emergency financing mechanisms provided by the International Monetary Fund (IMF).
  • The RFI provides rapid, low-access financial assistance to any member country facing an urgent balance of payments (BoP) need without the need for a full-fledged program.
  • The RCF provides rapid, concessional financial assistance to low-income countries (LICs) facing urgent BoP needs under the Poverty Reduction and Growth Trust (PRGT).
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Question Specifications & Syllabus Mapping

Examination & YearUPSC Civil Services Preliminary Examination 2022 (Q249)
Paper & Marking SchemeGS Paper I • 2 Marks (-0.66 Negative for incorrect response)
Syllabus Subject & TopicIndian Economy → Indian Economic Planning & Growth
Official Answer KeyOption (B) — International Monetary Fund

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Frequently Asked Questions — UPSC Prelims 2022 Q249

What is the official answer for UPSC Prelims 2022 GS Paper I Question 249 (Indian Economy)?

The official UPSC answer key for this 2022 Indian Economy (Indian Economic Planning & Growth) question is Option (B): "International Monetary Fund". Correct attempts carry 2 Marks with -0.66 Negative penalty for wrong answers.

Which UPSC Prelims syllabus topic does this 2022 question belong to?

This question belongs to GS Paper I under the subject "Indian Economy" and micro-topic "Indian Economic Planning & Growth". You can explore all repeated questions from Indian Economic Planning & Growth in Acme AI's 3D Prelims PYQ Realm or practice 50 full-length and sectional tests in the APT Prelims Test Series.

How can I solve this Indian Economic Planning & Growth UPSC Prelims question using option elimination?

To solve Indian Economic Planning & Growth questions in UPSC Prelims, identify extreme modifiers, verify core NCERT conceptual definitions, and eliminate mutually contradictory statement pairs before locking your final option.

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Previous QuestionWith reference to Indian economy, consider the following statements: 1. A share of the household financial savings goes towards government borrowings. 2. Dated securities issued at market related rates in auctions form a large component of internal debt. Which of the above statements is/are correct?
Next QuestionWith reference to the Indian economy, consider the following statements: 1. An increase in Nominal Effective Exchange Rate (NEER) indicates the appreciation of rupee. 2. An increase in the Real Effective Exchange Rate (REER) indicates an improvement in trade competitiveness. 3. An increasing trend in domestic inflation relative to inflation in other countries is likely to cause an increasing divergence between NEER AND REER. Which of the statements are correct?