Government Schemes & Programs MCQs

The question explicitly states that the MoU is on cooperation in the field of Information and Communication Technology (ICT).

The Ministry of Electronics and Information Technology (MeitY) is responsible for policies and programs related to electronics, IT, and the internet, making it the appropriate nodal ministry for this ICT-focused MoU.

The Union Cabinet is the highest decision-making body for government policies and approvals in India, and it approved the MoU between India and Botswana.

By establishing clear rules, the guidelines aim to foster a more trustworthy environment that encourages responsible innovation within the fintech industry.

The Reserve Bank of India (RBI) is the central banking institution responsible for issuing such financial regulations.

Transparency is a crucial aspect of the new regulations, covering both the initial disbursal of loans and subsequent recovery procedures.

The guidelines explicitly prohibit the charging of penal interest on overdue installments to provide relief to borrowers.

The primary aim of the guidelines is to safeguard borrowers from unfair practices and ensure ethical operations in the digital lending space.

The Prime Minister of India officially launched the National Urban Housing Mission.

The mission integrates housing development with broader goals of sustainable urban planning and development.