With reference to Contingency Fund CF of RBI consider the following statements The RBI may transfers...........

Economic Affairs Tax System

With reference to Contingency Fund (CF) of RBI, consider the following statements

The RBI may transfers a portion of its surplus funds into it’s Contigency Fund, which may lower the transfer of surplus to the government.
The contingency fund of RBI is at the disposal of the President of India.

Select the correct statement.

1 only

2 only

Both

None

Recently, the RBI has sent most of its surplus, Rs 73,615 crore to its Contingency Fund.

This leads to a sharp fall in the transfer of surplus to the government in the current year.
The RBI stores a Contingency Fund (CF), which is another provision for tackling unexpected emergencies.
The RBI may transfers a portion of its surplus funds into it’s Contigency Fund, which may lower the transfer of surplus to the government.
The Contingency Fund of India is at the disposal of the President of India.

Hence both statements are correct.

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