Economy & Business MCQs - 2026-10-19

The PLI scheme's expansion is aimed at attracting significant investments, leading to increased production capacity, technological advancements, and the creation of numerous jobs across various manufacturing sectors. This, in turn, enhances India's global competitiveness and reduces import dependence.

The PLI scheme provides incentives to companies based on their incremental sales of manufactured products over a base year. This performance-linked approach encourages companies to increase production and sales, thereby boosting domestic manufacturing. The scheme covers various sectors, including electronics, automobiles, pharmaceuticals, and textiles.

The Production Linked Incentive (PLI) scheme is designed to incentivize domestic manufacturing in strategic sectors, attract investments, create jobs, reduce reliance on imports, and make Indian manufacturers globally competitive.

The RBI guidelines clearly state that Regulated Entities (REs) are ultimately responsible for the actions of their Lending Service Providers (LSPs). This includes ensuring that LSPs adhere to all data privacy and security standards, and that a robust grievance redressal mechanism is in place, with a nodal officer appointed by the RE.

The Key Fact Statement (KFS) is a crucial requirement under RBI's digital lending guidelines. It aims to enhance transparency by providing borrowers with a clear and concise summary of the loan terms, including the Annual Percentage Rate (APR), all fees, charges, and other relevant information, before they commit to the loan.

The RBI's digital lending guidelines mandate that the loan disbursement should be made directly into the bank account of the borrower without any pass-through to the Lending Service Provider (LSP). This ensures transparency and prevents unauthorized deductions.