General Economics & Indian Economy - GS questions based on daily current affairs for Q. 25361
Q. Which of the following are funds created as the funds of the proposed Resolution Corporation?
1) Corporation Insurance Fund
2) Corporation General Fund
3) Corporation Resolution Fund- Published on 08 Nov 16a. 2, 3
b. 1, 2
c. 1, 2
d. All of the above
ANSWER: All of the above
The following funds shall be constituted for the Corporation,
(a) a fund for Deposit Insurance provided by the Corporation to the insured service providers, called the Corporation Insurance Fund;
(b) a fund for meeting the expenses of carrying out resolution of insured service providers, called the Corporation Resolution Fund; and
(c) a fund for all other functions of the Corporation called the Corporation General Fund.
The funds under this section shall be credited in the following manner,
(a) premium for Deposit Insurance collected from insured service providers, in the Corporation Insurance Fund;
(b) fees for resolution collected from the covered service provider in the Corporation Resolution Fund; and
(c) all other fees in the Corporation General Fund.
