Consider the following statements about government rsquo s decision on bank recapitalisation ndash 1...........

Economic Affairs Financial Markets

Consider the following statements about government’s decision on bank recapitalisation –

1. Rs. 2,11,000 crore plan envisaged to revitalise the domestic banking system and strengthen them.

2. Cost of bank recapitalisation plan will come from budgetary support, equity issuance and bank recapitalisation bonds.

Which of the statement given above is / are correct?

1, 2 and 3

1 and 2 only

2 and 3 only

1 and 3 only

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Explanation:

As a result of this approval, for all transactions less than Rs. 2000 in value, the consumer and the merchant will not suffer any additional burden in the form of MDR thereby leading to greater adoption of digital payment modes for such transactions. Since such transactions account for sizeable percentage of transaction volume, it will help to move towards a less cash economy.