With reference to ‘WaterCredit’, consider the following statements:
- It puts microfinance tools to work in the water and sanitation sector.
- It is a global initiative launched under the aegis of the World Health Organization and the World Bank.
- It aims to enable poor people to meet their water needs without depending on subsidies.
Which of the statements given above are correct?
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
Explanation
Statement 2 is incorrect
- ‘WaterCredit’ is an initiative of Water.org, a global nonprofit organisation working to bring water and sanitation to the world. It helps people get access to safe water and sanitation through affordable financing, such as small loans.
Statement 1 is correct
- WaterCredit is a powerful solution and the first to put microfinance tools to work in the water and sanitation sector.
- Here’s how it works: Identify a region where people need access to water and sanitation and that is ready for a microfinance solution.
- It partners with carefully selected institutions to provide affordable financing for water and sanitation to families in need.
- These partners establish water and sanitation loans in their portfolio of offerings. It support them by providing technical assistance, connections and resources to get them started.
- People in need use these small, affordable loans to put a tap or toilet in their homes and access local resources to do the work.
- Every repaid loan can be lent to another family in need of safe water or sanitation.
Statement 3 is correct
- WaterCredit facilitates access to safe water and sanitation by providing affordable financing options, including small loans. This empowers individuals to address their water requirements without relying on subsidies, thereby promoting self-sufficiency among underserved communities.
Answer: (c) 1 and 3 only; Difficulty Level: Hard
With reference to India, consider the following statements:
- Retail investors through the Demat account can invest in ‘Treasury Bills’ and ‘Government of India Debt Bonds’ in the primary market.
- The ‘Negotiated Dealing System Order Matching’ is a government securities trading platform of the Reserve Bank of India.
- The ‘Central Depository Services Ltd.’ is jointly promoted by the Reserve Bank of India and the Bombay Stock Exchange.
Which of the statements given above is/are correct?
- 1 only
- 1 and 2
- 3 only
- 2 and 3
Explanation
Statement 1 is correct
- RBI Retail Direct Scheme allows retail investors to buy and sell government securities (G-sec) online both in the primary and secondary markets. According to details provided by the RBI, small investors can invest in G-Secs by opening a gilt securities account with the RBI. The account opened will be called the Retail Direct Gilt (RDG) Account.
Statement 2 is correct
- NDS-OM is a screen-based electronic anonymous order-matching system for secondary market trading in Government securities owned by RBI. Presently, the membership of the system is open to entities like Banks, Primary Dealers, Insurance Companies, Mutual Funds, etc., i.e., entities that maintain SGL accounts with the RBI. These are Primary Members (PM) of NDS and are permitted by RBI to become members of NDS-OM. Gilt Account Holders who have a gilt account with the PMs are permitted to have indirect access to the NDS-OM system, i.e., they can request their Primary Members to place orders on their behalf on the NDS-OM system.
Statement 3 is incorrect
- Central Depository Services (India) Limited (CDSL) was incorporated at Mumbai on December 12 1997, as a Public Limited Company. It was established to provide convenient, dependable, and secure depository services at an affordable cost to all market participants. CDSL was initially promoted by the BSE Ltd., which thereafter divested its stake to leading banks.
- All leading stock exchanges, like the BSE Ltd. The National Stock Exchange and the Metropolitan Stock Exchange of India have established connectivity with CDSL. It offers other online services such as e-voting, e-Locker National Academy Depository (Electronic Access to Security Information), easiest (Electronic Access to Securities Information and Execution of Secured Transactions), and a mobile application (myeasi m-voting). The company offers services to several sub-sectors of the Indian securities and financial services market, including capital markets, mutual funds, and insurance companies.
