Selective Credit Controls & Monetary Transmission
पहले notes और solved examples, फिर options चुनकर Submit & Check Answers करें। Answers/explanations केवल इसी topic के Submit के बाद खुलेंगे। All numerical data and reserve/policy ratios in exercises are hypothetical teaching assumptions, not live rates.
Qualitative / selective controls credit के uses, sectors या terms पर focus करती हैं। Quantitative tools overall availability/cost पर focus करती हैं; real policy में effects overlap कर सकते हैं। PGT में instrument पहचानना और likely direction explain करना important है।
| Selective method | How it works |
|---|---|
| Margin requirement | Collateral value का minimum borrower-owned हिस्सा बदलना; higher margin → lower maximum loan against same security |
| Credit rationing / sectoral ceilings | Specified borrower/use पर quantitative limit; selective application |
| Moral suasion | Central bank persuasion/advice through meetings, appeals |
| Direct action | Non-compliance पर authorised restrictions / sanctions |
| Consumer-credit terms | Down payment, instalment period या eligibility tightening |
| Selective directions | Particular speculative uses/commodities पर credit terms or restrictions |
Margin Requirement and Maximum Loan
Question में margin collateral value का fraction हो और lender full allowable amount lend करे।
Worked example: Security value₹1,000; margin25% → max loan₹750. Margin40% → max loan₹600; permissible loan falls₹150।
Interpretation: Collateral haircut / margin is not the interest rate. Price of collateral changes हो तो calculation नए collateral value से करें।
Transmission chain: policy/funding rate change → money-market and bank rates → credit/investment/consumption demand → output/prices, with expectations and time lags. This is a mechanism to explain, not a promise of identical or immediate response।
- Weak credit demand, impaired bank balance sheets, cash preference और liquidity trap transmission weaken कर सकते हैं। Inflation driven by food/oil supply shocks को monetary tightening alone physical supply में बदल नहीं सकती।
- Expansionary policy recessionary demand weakness में support कर सकती है; contractionary policy excess aggregate demand को restrain कर सकती है. Tool choice और side effects employment/growth trade-offs से जुड़े हैं।
- Moral suasion persuasion है; legally binding direction/direct action अलग mechanism हैं. “Qualitative” को केवल non-numerical समझना गलत: sector-specific numerical ceiling भी selective हो सकती है।
Active Recall / Writing Practice
- Margin25%→40% case में concept→formula→substitution→meaning लिखें।
- Weak loan demand में monetary expansion less effective क्यों हो सकती है? Five lines।
Notes बन्द करके लिखें। Review next day, third day और seventh day. File delivery, study attendance और mastery अलग हैं।
Memory recap: Selective = where/for what/on what terms; general = overall cost/liquidity।
Topic Test · 12 MCQs
Original revision questions, official PYQs या full official-pattern mock नहीं। Practice scoring +1 correct, 0 wrong/blank; no claim about official marking. Client-side answers inspectable हैं; this is not a secure examination platform.
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Your Revision Result
Your answer: · Correct answer: A. ₹750
Loan=value×(1−margin)=1000×.75=750।
Your answer: · Correct answer: B. ₹600
1000×(1−.40)=600; margin lender का interest rate नहीं।
Your answer: · Correct answer: A. ₹150 decrease
Old750,new600; loan reduction150।
Your answer: · Correct answer: B. ₹640
800×.80=640; collateral value के शेष हिस्से को lend किया जा सकता है।
Your answer: · Correct answer: B. Moral suasion
Persuasion/advice moral suasion है; binding order or sanction अलग mechanism है।
Your answer: · Correct answer: A. Direct action
Direct regulatory action persuasion से अलग enforcement mechanism है।
Your answer: · Correct answer: C. Selective credit control
Classification focus/coverage से है; sector-specific numerical ceiling भी selective हो सकती है।
Your answer: · Correct answer: A. Transmission में funding conditions, risk, competition और time lags matter करते हैं
Transmission mechanism conditional है; identical immediate pass-through guaranteed नहीं।
Your answer: · Correct answer: C. Reserve easing से actual credit response limited हो सकती है
Lending demand और risk constraints reserve availability के बावजूद expansion रोक सकती हैं।
Your answer: · Correct answer: B. यह सीधे missing food supply produce नहीं करती
Monetary tools demand/expectations restrain कर सकती हैं; physical supply constraints के targeted measures अलग हो सकते हैं।
Your answer: · Correct answer: D. Credit-financed purchases को restrain करना
Borrower को अधिक own funds देने पड़ते हैं; consumer-credit access/amount restrict हो सकता है।
Your answer: · Correct answer: B. General quantitative; selective credit control
CRR overall liquidity requirement है; specified-use restriction selective allocation/terms पर focus करती है।
Numerical routine: concept → formula → substitute → interpret. Wrong/guessed/slow items को 24 hours बाद new attempt दें।