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

    Question

    What is the primary purpose of the "General Financial

    Rules" in the context of government procurement?
    A To encourage favoritism and bias in the procurement process Correct Answer Incorrect Answer
    B To provide a framework for financial management, excluding guidelines for public procurement Correct Answer Incorrect Answer
    C To outline principles of transparency, competition, and non-discrimination in the procurement process Correct Answer Incorrect Answer
    D To restrict the application of rules to specific government departments rather than making them universal Correct Answer Incorrect Answer

    Solution

    To outline principles of transparency, competition, and non-discrimination in the procurement process, Explanation: General Financial Rules (GFR): The General Financial Rules provide the basic framework for financial management and control within the government and includes guidelines related to public procurement, detailing the procedures and rules to be followed by government departments and organizations. It outlines the principles of transparency, competition, and non-discrimination in procurement process.

    Practice Next