Financial Inclusion — Set 8
Government Schemes · वित्तीय समावेशन · Questions 71–80 of 160
PMJDY accounts qualify for receiving LPG cooking gas subsidy under which scheme?
Correct Answer: B. PAHAL (DBTL - Direct Benefit Transfer for LPG)
PMJDY accounts are used to receive LPG cooking gas subsidy under PAHAL (Pratyaksh Hastaantarit Laabh - Direct Benefit Transfer for LPG) scheme. Beneficiaries buy LPG at market price and receive subsidy directly in their bank account. PAHAL is one of the largest DBT programmes globally. Women PMJDY account holders under Pradhan Mantri Ujjwala Yojana (PMUY) receive connection fee subsidy through DBT.
APY (Atal Pension Yojana) - Government co-contributes for how many years for NPS-Lite switchovers and new subscribers who were not income tax payers?
Correct Answer: B. 5 years
Government co-contributed 50% of total contribution or ₹1,000 per year whichever is lower for eligible APY subscribers for 5 years (2015-16 to 2019-20). This co-contribution was for subscribers who joined between June 2015 and March 2016 and were not NPS members, not income tax payers, and not covered by social security schemes. From October 2022, income tax payers are not eligible for APY.
Under PM SVANidhi, what is the interest subvention rate for timely repayment?
Correct Answer: C. 7%
PM SVANidhi provides 7% interest subvention (reimbursement) to street vendors who repay their loans on time. This significantly reduces the effective interest rate for vendors. The scheme also provides cashback incentive for digital payments and marks the first time street vendors can build formal credit history. PM SVANidhi aims to help vendors exit the informal moneylender cycle through formal credit.
Common Service Centres (CSCs) act as financial inclusion points under which scheme?
Correct Answer: B. All government financial inclusion schemes including PMJDY, PMMY, PMJJBY, and APY
Common Service Centres (CSCs) serve as financial inclusion access points for multiple schemes including PMJDY (account opening), PMMY (loan applications), PMJJBY and PMSBY (insurance enrollment), and APY (pension enrollment). CSCs also facilitate Aadhaar enrollment, DBT services, and digital literacy. There are over 5 lakh CSCs across India managed by CSC e-Governance Services India Limited under MeitY.
What is the minimum pension that Atal Pension Yojana guarantees?
Correct Answer: B. ₹1,000 per month
Atal Pension Yojana guarantees a minimum monthly pension of ₹1,000 at age 60. Other pension slabs available are ₹2,000, ₹3,000, ₹4,000, and ₹5,000 per month. The guarantee means that if the actual investment returns on the pension corpus are less than expected, the Government fills the shortfall. This guaranteed pension feature distinguishes APY from NPS (National Pension System) which offers market-linked returns.
Pradhan Mantri Vishwakarma Yojana requires artisans to be registered on which portal?
Correct Answer: B. PM Vishwakarma portal
Artisans under PM Vishwakarma Yojana register on the PM Vishwakarma portal (pmvishwakarma.gov.in) using their Aadhaar. Gram Sabhas and Urban Local Bodies (ULBs) verify and recommend beneficiaries. Registered artisans receive PM Vishwakarma Certificate and ID Card. The portal links to skill training, credit disbursement, digital payment adoption, and market linkage components of the scheme.
Interest rate on Kisan Credit Card (KCC) after interest subvention for timely repayment is?
Correct Answer: B. 4% per annum
Kisan Credit Card (KCC) provides short-term crop loans at 7% interest rate with 3% interest subvention from Government for timely repayment, making effective interest rate 4% per annum. For loans up to ₹3 lakh, the effective interest rate is 4%. For natural calamities, interest subvention is still available for loans restructured. KCC has been integrated with PMJDY and RuPay for digital access.
PMMY (Mudra) - what percentage of loans went to women borrowers?
Correct Answer: C. 68%
About 68% of PMMY (Mudra) loan accounts are held by women borrowers, making it one of the most women-focused credit schemes. This reflects the reality that women-owned micro enterprises form a large part of India's informal economy. SC/ST borrowers account for about 22% of MUDRA beneficiaries. NE and hilly states borrowers get higher MUDRA limits. MUDRA has been crucial for women entrepreneurs' financial independence.
National Centre for Financial Education (NCFE) was established by which organizations?
Correct Answer: B. Four financial sector regulators: RBI, SEBI, IRDA, and PFRDA jointly
National Centre for Financial Education (NCFE) was established jointly by the four financial sector regulators: RBI (Reserve Bank of India), SEBI (Securities and Exchange Board of India), IRDA (Insurance Regulatory and Development Authority), and PFRDA (Pension Fund Regulatory and Development Authority). NCFE coordinates financial literacy campaigns and runs NISM (National Institute of Securities Markets) programs. NCFE formulated NSFE 2020-25.
Digital lending norms for Fintech companies in India are regulated by?
Correct Answer: C. RBI
Digital lending by fintech companies, NBFCs, and banks is regulated by RBI through its Guidelines on Digital Lending (September 2022). These guidelines require Lending Service Providers (LSPs) to operate through Regulated Entities (REs), mandate fund flows directly to borrowers (not through third parties), require a standardized Key Fact Statement (KFS), and ensure fair practices. RBI's regulation aims to protect digital borrowers from predatory practices.