Q1.Consider the following for the Atal pension Yojana? 1) This scheme is available for the Citizens of India in the age group of 18-40 years. 2) Government would co- contribute to each subscriber 50% or 1000 per annum, whichever is less. However, for this, Subscriber shouldn’t be a tax payer and also shouldn’t be covered under any social security scheme. 3) Only commercial banks are allowed to offer this scheme. Code-
Answer : Option AExplaination / Solution:
Atal pension yojana which is available for the citizen of India, can even be offered by Small finance and payment banks along with Scheduled commercial bank.
Answer : Option DExplaination / Solution:
C4IR denotes Centre for industrial revolution, and is the initiative of World Economic forum, in partnership with Reliance industries limited for promoting digital India and the digital India programme. This has been set up in Mumbai.
Q3.What has been the Budget estimate of the fiscal deficit for the year 2018-19?
Answer : Option BExplaination / Solution:
3.3% of the GDP has been set up as the budget estimate of the fiscal deficit for the year 2018-19. This increased in the target, as compared to 3.2% of last year, has been done to boast spending in the economy.
Q4.In BSBDA (Basic Savings Bank Deposit Account) the credits in a financial year does not exceed rupees:
Answer : Option CExplaination / Solution:
In BSBDA (Basic Savings Bank Deposit Account) the credits in a financial year does not exceed rupees Rs. 1 lakh.
Note: In BSBDA account –
(1) the balance at any point of time does not exceed rupees: Rs. 50,000
(2) the withdrawals and transfers in a month does not exceed rupees: Ans: Rs. 10,000
Q6.The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called?
Answer : Option DExplaination / Solution:
Direct investments are when companies make physical investments and purchases in buildings, factories, machines, and other equipment outside of their home country. Indirect investments are when companies or financial institutions purchase positions or stakes in companies on a foreign stock exchange.
Q7.The power of the commercial banks to expand deposits through expanding their loans and advances is known as:
Answer : Option CExplaination / Solution:
The power of commercial banks to expand deposits through loans, advances and investments is known as “credit creation.” Process of Credit Creation. The banking system as a whole can create credit which is several times more than the original increase in the deposits of a bank.
Q8.What is the limit of fund transfer using Unified Payment Interface (UPI)?
Answer : Option BExplaination / Solution:
At present, the upper limit per UPI transaction is Rs. 1 Lakh.
Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties' bank accounts.
Q10.Which of these statement is not correct about ‘Payment Bank’?
Answer : Option DExplaination / Solution:
Payments banks are a new model of banks conceptualised by the reserve bank of India. These banks can accept a restricted deposit which is currently limited to 1 lakh per customer account. These banks cannot issue loans and credit cards. Both current account and savings accounts can be operated by such banks. Payments banks can issue services like ATM cards, debit cards online banking and mobile banking.
Total Question/Mark :
Scored Mark :
Mark for Correct Answer : 1
Mark for Wrong Answer : -0.5
Mark for Left Answer : 0