ele ted      s    23.19
            savings, credit, insurance, business                   is based on the principle of trust and
            services and technical support provided                creditworthiness of poor with both,
            to the needy borrower. The thrust of the               obligatory and voluntary saving schemes.
            MF initiative is to channelise production              The Foundation for Development
            and consumption credit in multiple doses               Cooperation (FDC) of Australia evolved
            based on the absorption capacity of the                a research project, The Banking with
            prospective borrower. The presumption
                                                                   the Poor (BWTP) network to link
            here is that the borrowers possess basic
                                                                   microfinance institutions with formal
            financial literacy and requisite capacity to
                                                                   financial institutions.
            operate their self-determined economic
            ventures profitably. The formal existence     25. (a) The stand of the GoI on crypto-currencies
            of MF was found in 1972. A charity                     has been already made clear by the RBI.
            based model (interest free loans where                 It was re-emphasised in the Union Budget
            repayment was based on peer pressure)                  2018-19 also when the Government
            of MF was evolved in Ireland. Later on,                announced to take all measures to
            in Germany, a thrift-based model was                   eliminate use of such currencies in
            developed with establishment of saving                 financing illegitimate activities or as part
            funds. Bangladesh Grameen model                        of the payment system.
                                                      SET- 3
      1. Which one is the correct equation for                  (c) A self-service window for buying rail
         India’s NNP at market prices?                                and platform tickets.
         (a) Total GVA at basic prices +                        (d) None of the above.
               Production taxes (less Production
               subsidies)                                    3. Consider the following statements related
         (b) CE + MI + CFC + Product taxes +                    to the Central Sales Tax (CST) and the
               Production taxes (less Product and               VAT (Value Added Tax).
               Production subsidies)                             1. CST is a destination-based tax of the
         (c) Total GVA at basic prices + Product                      Centre while VAT is an origin-based
               and Production taxes (less all                         tax of the states.
               subsidies)
                                                                 2. CST is inconsistent with VAT.
         (d) CE + MI + CFC + Product taxes (less
               Product subsidies)                                3. CST is a cascading-type tax not
                                                                      rebatable against the VAT.
      2. Which of the following is correct about
         ‘Coach Mitra’ recently in news—                        Select the correct statement/statements
         (a) A single window interface proposed                 using the code given below:
               by the Indian Railways to register all           (a) Only 1
               coach related complaints and needs.
                                                                (b) 1 and 2
         (b) An ‘app’ based service system to help
               rail passengers to avail entertainment           (c) Only 3
               and internet on the go.                          (d) 1, 2 and 3