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

    Question

    What is the purpose of the General Financial Rules

    (GFR) in the context of the Government of India?
    A To create a complex framework that hinders financial management Correct Answer Incorrect Answer
    B To apply only to specific government ministries and exclude others Correct Answer Incorrect Answer
    C To favor foreign goods and services in government procurement Correct Answer Incorrect Answer
    D To provide a comprehensive set of rules for financial management applicable to all government departments Correct Answer Incorrect Answer

    Solution

    To provide a comprehensive set of rules for financial management applicable to all government departments, Explanation: General Financial Rules are the general rules of Government of India which are applicable to all Government Ministries / Departments. These rules were first introduced in 1947 and modified thereafter, in 1963, 2005 and 2017.

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