Question
Which of the following statement is not true about Prime
Minister's National Relief Fund (PMNRF)?Solution
PMNRF operates from the Prime Minister’s Office, South Block, New Delhi and does not pays any license fee. Prime Minister's National Relief Fund (PMNRF) was established entirely with public contributions and does not get any budgetary support. PMNRF accepts voluntary contributions from Individuals, Organizations, Trusts, Companies and Institutions etc. All contributions towards PMNRF are exempt from Income Tax under section 80(G). The resources of the PMNRF are utilized to render immediate relief to families of those killed in natural calamities like floods, cyclones and earthquakes, etc.
The CRR cut will only benefit the banks and not the industry, which is suffering of high interest rates and slow demand.Â
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