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State PCS PYQPrelims 2025

BPSC – Combined Competitive Examination · Question 43

Before the launch of the Kisan Rin Portal (KRP), claims under the Interest Subvention and Prompt Repayment Incentive schemes were submitted manually to which institution/s?

  1. Ministry of Agriculture and Farmers Welfare and NABARD
  2. Reserve Bank of India and NABARD
  3. National Payments Corporation of India and Reserve Bank of India
  4. More than one of the above
Show answer & explanation

Answer: (B) Reserve Bank of India and NABARD

Explanation

Under the Modified Interest Subvention Scheme, claims were earlier processed manually by RBI and NABARD; KRP (2023) digitised this.

  • (A) Incorrect

    Wrong: the ministry funds the scheme but claims went through RBI and NABARD.

  • (B) Correct

    Correct: banks submitted claims to RBI (commercial banks) and NABARD (RRBs/co-op banks).

  • (C) Incorrect

    Wrong: NPCI had no role in these claims.

  • (D) Incorrect

    Wrong: only option B is correct.