UPSC CAPF (AC) 2026 Paper I · Question 19
Question 19 of the UPSC CAPF (AC) 2026 Paper I (19 July 2026). Try it first, then open the answer and explanation.
Consider the following statements about Ways and Means Advances (WMA): 1. WMA is a provision in which the Reserve Bank of India provides long-term loans to the State Governments/UT Governments and Central Government. 2. WMA is a provision in which the Reserve Bank of India provides short-term loans to the State Governments/UT Governments and Central Government. 3. WMA was introduced in 1997. 4. Interest rate charged by the RBI on WMA is the same as the bank rate. Which of the statements given above is/are correct?
- 1 only
- 1 and 3 only
- 2 and 3
- 1, 3 and 4
अर्थोपाय अग्रिमों (WMA) के बारे में निम्नलिखित कथनों पर विचार कीजिए : 1. WMA एक प्रावधान है, जिसमें भारतीय रिज़र्व बैंक राज्य सरकारों/संघ राज्यक्षेत्र की सरकारों और केन्द्र सरकार को दीर्घावधि ऋण (loan) उपलब्ध करवाता है। 2. WMA एक प्रावधान है, जिसमें भारतीय रिज़र्व बैंक राज्य सरकारों/संघ राज्यक्षेत्र की सरकारों और केन्द्र सरकार को अल्पावधि ऋण (loan) उपलब्ध करवाता है। 3. WMA वर्ष 1997 में प्रवर्तित किया गया था। 4. WMA पर RBI द्वारा प्रभारित ब्याज दर, बैंक दर के समान है। उपर्युक्त कथनों में से कौन-सा/कौन-से सही है/हैं?
- केवल 1
- केवल 1 और 3
- 2 और 3
- 1, 3 और 4
Show answer
Answer: (3) 2 and 3
उत्तर: (3) 2 और 3
WMA are temporary, short-term advances from the RBI to cover mismatches between government receipts and payments, so statement 2 is correct and 1 is wrong. The WMA scheme for the Centre was introduced on 1 April 1997, replacing ad hoc Treasury Bills (statement 3), and WMA is charged at the repo rate, not the bank rate, so statement 4 is wrong.