Financial Inclusion — Set 2
Government Schemes · वित्तीय समावेशन · Questions 11–20 of 160
Stand-Up India scheme is implemented through which financial institution?
Correct Answer: D. All Scheduled Commercial Banks (SCBs)
Stand-Up India scheme launched on April 5, 2016 is implemented through all Scheduled Commercial Banks (SCBs) to facilitate bank loans between ₹10 lakh to ₹1 crore for setting up greenfield enterprises. It is specifically targeted at SC/ST borrowers and women entrepreneurs ensuring at least one such loan per bank branch. The scheme is implemented by SIDBI along with banking sector.
PM SVANidhi (PM Street Vendor's AtmaNirbhar Nidhi) was launched for which target group?
Correct Answer: B. Urban street vendors
PM SVANidhi was launched in June 2020 specifically for urban street vendors affected by COVID-19 lockdown to provide working capital loans. Initial loans of ₹10,000 are provided which can be enhanced to ₹20,000 and then ₹50,000 on timely repayment. The scheme also provides digital payment incentive and credit score linkage. Over 67 lakh vendors have benefited from PM SVANidhi.
PM Vishwakarma Yojana was launched in which year to support traditional artisans?
Correct Answer: C. 2023
PM Vishwakarma Yojana was launched on September 17, 2023 (Vishwakarma Jayanti) by PM Modi to support traditional artisans and craftspersons belonging to 18 identified traditional trades. The scheme provides collateral-free credit support of ₹1 lakh (Phase I) and ₹2 lakh (Phase II) at 5% concessional rate, skill training, toolkits, and marketing support. Beneficiaries receive PM Vishwakarma Certificate and ID card.
RuPay card is developed by which organization?
Correct Answer: B. NPCI (National Payments Corporation of India)
RuPay card is a domestic payment card developed by National Payments Corporation of India (NPCI) as India's own payment network alternative to Visa and Mastercard. RuPay was launched in 2012 and is widely used under PMJDY, Kisan Credit Card, and other government schemes. NPCI also operates UPI (Unified Payments Interface), IMPS, NACH, and other payment infrastructure.
DBT (Direct Benefit Transfer) was launched under which PM?
Correct Answer: A. Dr. Manmohan Singh
Direct Benefit Transfer (DBT) was launched on January 1, 2013 by Prime Minister Dr. Manmohan Singh to transfer welfare benefits directly to beneficiaries' bank accounts, eliminating intermediaries and leakages. DBT initially covered 26 schemes in 43 pilot districts. PM Narendra Modi significantly expanded DBT from 2014 onwards. JAM (Jan Dhan-Aadhaar-Mobile) trinity forms the backbone of India's DBT infrastructure.
What does JAM trinity stand for in the context of financial inclusion?
Correct Answer: A. Jan Dhan-Aadhaar-Mobile
JAM trinity stands for Jan Dhan (bank accounts under PMJDY), Aadhaar (biometric identity), and Mobile (mobile phones/connectivity). JAM forms the digital backbone for Direct Benefit Transfer (DBT) in India. PMJDY provides bank accounts, Aadhaar provides unique identity for authentication, and mobile provides connectivity for transactions. JAM has significantly reduced leakages in welfare delivery.
Under PMJDY, life insurance cover of ₹30,000 is available for accounts opened between which dates?
Correct Answer: A. August 15, 2014 to January 31, 2015
Under PMJDY, a life insurance cover of ₹30,000 was available for accounts opened between August 15, 2014 to January 31, 2015 under PMJDY's life insurance component (from LIC). This was a special incentive for early adopters of PMJDY. The current PMJDY benefits include ₹2 lakh accidental insurance (RuPay card) and overdraft facility of ₹10,000.
National Payments Corporation of India (NPCI) operates which platforms?
Correct Answer: C. UPI, RuPay, IMPS, NACH, NETC, and others
NPCI (National Payments Corporation of India) operates multiple payment systems including UPI (Unified Payments Interface), RuPay (domestic card payment network), IMPS (Immediate Payment Service), NACH (National Automated Clearing House), NETC (National Electronic Toll Collection/FASTag), AePS (Aadhaar-enabled Payment System), and BHIM app. NPCI was established in 2008 and is an umbrella organization for retail payment systems in India.
Stand-Up India provides loans specifically for which type of enterprises?
Correct Answer: B. New (greenfield) enterprises by SC/ST and women entrepreneurs
Stand-Up India provides loans for setting up new (greenfield) enterprises in manufacturing, services, or trading sector. The scheme targets at least one SC/ST borrower and one woman entrepreneur per bank branch. Loan amount is between ₹10 lakh to ₹1 crore. At least 51% of the shareholding or stake must be held by SC/ST or woman entrepreneur. Repayment period can be up to 7 years.
Pradhan Mantri Mudra Yojana's Tarun Plus category was announced for loans up to?
Correct Answer: B. ₹20 lakh
Tarun Plus is a new category under PMMY announced in Budget 2024-25 for loans up to ₹20 lakh for borrowers who have successfully repaid their Tarun category loans (₹10 lakh). This encourages graduation from micro to small enterprises. The existing PMMY categories are: Shishu (up to ₹50,000), Kishore (₹50,001-₹5 lakh), Tarun (₹5-10 lakh), and now Tarun Plus (up to ₹20 lakh).