1. Launch of the digital platforms Sahkar Digi-Pay and Sahkar Digi-Loan for Urban Cooperative Banks.
2. Adoption of the Model Bylaws for PACS by a majority of States and Union Territories to diversify PACS activities.
3. Establishment of the National Urban Co-operative Finance and Development Corporation (NUCFDC) as the umbrella organisation for UCBs, registered with the RBI.
Which of the above statements is/are correct?
Statement 1 – Correct: Sahkar Digi-Pay and Sahkar Digi-Loan were launched at Co-op Kumbh 2025 as part of the digital push for UCBs.
Statement 2 – Correct: Model PACS bylaws have been adopted or aligned by 32 States/UTs, which constitutes a majority.
Statement 3 – Correct: NUCFDC has received its Certificate of Registration from RBI and has been established as the apex umbrella entity for UCBs.
1. NUCFDC functions as an umbrella organisation for UCBs with RBI registration.
2. Model PACS bylaws have been adopted by all States/UTs.
3. Reduction of NPAs in cooperative banks has been observed in recent years.
Which of the above statements is/are correct?
Statement 1 – Correct: NUCFDC has received RBI registration and functions as the apex financial and development organisation for UCBs.
Statement 2 – Incorrect: The Model PACS bylaws have been adopted or aligned by 32 States/UTs, not all.
Statement 3 – Correct: NPAs in the cooperative banking sector have shown a significant downward trend in recent years.
1. The Varde Committee introduced population norms for identifying towns suitable for UCBs.
2. The Madhava Rao Committee recommended the creation of NUCFDC as the apex body for UCBs.
3. The Vishwanathan Committee (2021) suggested gradual withdrawal of RBI regulation from UCBs.
Which of the above statements is/are correct?
Statement 1 – Correct: The 1963 Varde Committee proposed population-based norms for identifying towns suitable for UCBs and discouraged caste-based cooperative banks.
Statement 2 – Incorrect: NUCFDC was recommended by the Vishwanathan Committee, not the Madhava Rao Committee.
Statement 3 – Incorrect: The Vishwanathan Committee (2021) suggested strengthening regulation and governance of UCBs, not withdrawal of RBI oversight.
1. The Banking Regulation (Amendment) Act, 2020 brought UCBs under RBI’s resolution powers similar to commercial banks.
2. The Delhi Declaration 2025 proposes population-based expansion of UCBs.
3. Sahkar Digi-Pay seeks to integrate UCBs into the national digital payments framework for the first time.
Which of the above statements is/are correct?
Statement 1 – Correct: The Banking Regulation (Amendment) Act, 2020 empowered RBI to undertake reconstruction and resolution of UCBs, bringing them closer to the regulatory framework used for commercial banks.
Statement 2 – Correct: The Delhi Declaration 2025 proposes establishing UCBs in cities above a population threshold of 2 lakh, indicating population-based expansion.
Statement 3 – Incorrect: UCBs already had access to NEFT, RTGS and UPI. Sahkar Digi-Pay enhances digital infrastructure; it is not the first-time integration of UCBs into national payment systems.
1. One of these countries contains the highest tropical mountain peak in the world and shares the world’s highest navigable lake with another Andean nation.
2. Another country in this region has its entire western coastline influenced by the cold Humboldt Current and contains one of the driest deserts on Earth.
Which of the statements given above is/are correct?
Statement 1 – Correct: Huascarán in Peru is the world’s highest tropical mountain peak. Peru also shares Lake Titicaca—the world’s highest navigable lake—with Bolivia. Both are Andean countries.
Statement 2 – Correct: Chile’s entire western coastline is influenced by the cold Humboldt Current. This cooling effect, combined with the Andes’ rain shadow, results in the Atacama Desert—one of the driest deserts on Earth—located in northern Chile.
1. It contains the Atacama Desert as well as Ojos del Salado on its border region.
2. Its southern extent meets the Drake Passage while its western boundary opens to the Pacific Ocean.
Which of the statements given above is/are correct?
Statement 1 – Correct: Chile contains the Atacama Desert and shares Ojos del Salado—the world’s highest active volcano—with Argentina along their border.
Statement 2 – Correct: Chile’s western boundary opens to the Pacific Ocean, and its far southern tip extends toward the Drake Passage.