Option (b) is correct

Explanation:

• PACS are village level cooperative credit societies.
• Statement 1 is not correct: The first Primary Agricultural Credit Society was formed in 1904.

• Statement 2 is correct: The Union Budget has announced Rs 2,516 crore for computerisation of 63,000 Primary Agricultural Credit Societies (PACS) over the next five years.

• Statement 3 is correct: They serve as the last link in a three-tier cooperative credit structure headed by the State Cooperative Banks (SCB) at the state level. 
• They offer last mile connectivity to farmers in disbursing credit.
• PACS have the capacity to extend credit with minimal paperwork within a short time.

Option (a) is correct

Explanation:

• The CITIIS 2.0 is approved by the Union cabinet at a meeting chaired by the Prime Minister for a period of four years, from 2023 till 2027.
• CITIIS 2.0 stands for ‘City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0)’, to 18 more cities with an outlay of over Rs.1,700 crore.
• It is conceived by the ministry of housing and urban affairs (MoHUA) in partnership with the French Development Agency (AFD), Kreditanstalt für Wiederaufbau (KfW), the European Union (EU), and National Institute of Urban Affairs (NIUA).

Option (c) is correct

Explanation:

• The Centre’s fiscal deficit narrowed to 6.4% of the GDP in 2022-23 from 6.71% in FY22, as anticipated by the Finance Minister in her Budget 2023-24  in February.
• Statement 1 is correct:The difference between total revenue and total expenditure of the government is termed as fiscal deficit. 
•  Statement 2 is correct:Fiscal deficit is calculated both in absolute terms and as a percentage of the country’s gross domestic product (GDP).
• It is an indication of the total borrowings needed by the government. While calculating the total revenue, borrowings are not included.
• The fiscal deficit, in mathematical terms, is [total revenue generated — total expenditure]. The total revenue is the sum of revenue receipts, recovery of loans and other receipts of the government.
• A high deficit at times also emerges if the government is spending on developmental works like construction of highways, ports, roads, airports which will later generate revenue for the government.

Option (d) is correct

Explanation:

• Telangana’s woollen gongadi shawls have been refashioned into shoes for farmers by alumni of the National Institute of Design, Ahmedabad.
• Gongadi is a traditional woollen blanket woven by the indigenous Kuruma and Kuruba pastoralist communities of Telangana.
• It is made using the coarse wool of the Deccani sheep, known locally as Nalla gorrae. 
• It is produced organically without using any dyes.

Option (a) is correct

Explanation:

• External Affairs Minister S. Jaishankar’s visit to South Africa and Namibia will begin with his attendance at the BRICS (Brazil-Russia-India-China-South Africa) Foreign Ministers’ meeting in Cape Town.
• Statement 1 is not correct: BRICS is an acronym for Brazil, Russia, India, China and South Africa.
  • The BRICS brings together five of the largest developing countries of the world, representing 41% of the global population, 24% of the global GDP and 16% of the global trade.

• Statement 2 is correct: During the Sixth BRICS Summit in Fortaleza (Brazil) in 2014, the leaders signed the Agreement establishing the New Development Bank (NDB – Shanghai, China).
• Statement 3 is correct: The chairmanship of the forum is rotated annually among the members, in accordance with the acronym B-R-I-C-S.

Option (c) is correct

Explanation:

• Recently, the Reserve Bank of India (RBI)-appointed director resigned from the board of Ujjivan Small Finance Bank (SFB).
• Statement 1 is correct: SFBs are granted the scheduled bank status after being operational and are deemed suitable under section 42 of the RBI Act,1934.
  • They are required to extend 75% of its adjusted net bank credit to the Priority Sector Lending (PSL).

• Statement 2 is correct: They are registered as a public limited company under the Companies Act, 2013.

• They will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.

• • They are required to maintain a minimum Capital to Risk-Weighted Assets Ratio (CRAR) of 15%.
  • SFBs are required to open at least 25% of their total branches in unbanked rural areas.
  • SFBs are required to maintain at least 50% of their loan portfolio as microfinance and advances of up to Rs. 25,00,000.