New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Contingency Fund

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    A is also known as emergency fund. Correct Answer Incorrect Answer
    B Can be used by the Prime Minister anytime. Correct Answer Incorrect Answer
    C Is an imprest account to meet unforeseen expenditure. Correct Answer Incorrect Answer
    D Is at the disposal of Parliament Correct Answer Incorrect Answer
    E Can be used to pay salaries of judges. Correct Answer Incorrect Answer

    Solution

    As per Art 267 of the Constitution of India. Art. 267. Contingency Fund Parliament may by law establish a Contingency Fund in the nature of an imprest to be entitled the Contingency Fund of India into which shall be paid from time to time such sums as may be determined by such law, and the said Fund shall be placed at the disposal of the President to enable advances to be made by him out of such Fund for the purposes of meeting unforeseen expenditure pending authorisation of such expenditure by Parliament by law under Article 115 or Article 116

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