DAY 88Quick read
DAY 88
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Question 1 of 10
1. Question
2 pointsConsider the following statements about small finance banks
1. They provide basic banking services like accepting deposits and lending to the unbanked sections such as small farmers, MSMEs and unorganized sector entities.
2. The minimum paid-up capital for small finance banks shall be Rs. 10 crores with a minimum regulatory CRAR of 15%.
3. The promoter’s minimum initial contribution to the paid-up equity capital of such small finance bank shall at least be 40%.
Which of the above statements are true?Correct
Minimum paid up capital for small finance bank shall be 100 crores. They are required to maintain Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). They are required to extend 75% of its Adjusted Net Bank Credit (ANBC) as Priority Sector Lending (PSL). A Small Finance Bank must have at least 25% branches in rural areas & at least 50% of the loan portfolio should constitute loans up to ₹25 lakh.
Incorrect
Minimum paid up capital for small finance bank shall be 100 crores. They are required to maintain Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). They are required to extend 75% of its Adjusted Net Bank Credit (ANBC) as Priority Sector Lending (PSL). A Small Finance Bank must have at least 25% branches in rural areas & at least 50% of the loan portfolio should constitute loans up to ₹25 lakh.
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Question 2 of 10
2. Question
2 pointsConsider the following statements about India Post Payment Banks
1.It has been incorporated under the Companies Act, 2013 based on PPP model. It aims to provide banking and financial services to people in rural areas, by linking all 1.55 lakh post office branches with IPPB.
2.It is licensed under Banking Regulation Act 1949 and given the status of scheduled banks under RBI Act 1934. Payment Banks are subject to Payment & Settlement Systems Act (2007), Foreign Exchange Management Act (1999) and Deposit Insurance and Credit Guarantee Corporation Act (1961).Which of the above statements are true?
Correct
It has been incorporated under the Companies Act, 2013 as a public limited company with 100% Government of India equity under Department of Posts (DoP). It can accept deposits of up to ₹ 1 lakh per customer and pays interest like savings bank accounts. Unlike traditional banks, it cannot issue loans and credit cards and will have to deploy their funds in government papers and bank deposits.
Incorrect
It has been incorporated under the Companies Act, 2013 as a public limited company with 100% Government of India equity under Department of Posts (DoP). It can accept deposits of up to ₹ 1 lakh per customer and pays interest like savings bank accounts. Unlike traditional banks, it cannot issue loans and credit cards and will have to deploy their funds in government papers and bank deposits.
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Question 3 of 10
3. Question
2 pointsConsider the following statements about NBFCs
1.It is a company registered under Companies Act that provides financial services without meeting the legal definition of a bank.
2.They can only accept time deposits and not demand deposits. NBFCs do not form part of the payment & settlement system & cannot issue cheques to its customers.Which of the above statements are true?
Correct
NBFCs can engage in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities, leasing, hire-purchase, insurance business, chit business. No deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation of India is available to depositors of NBFCs, unlike in case of banks. NBFCs can deposit depositors’ money in the share market unlike banks.
Incorrect
NBFCs can engage in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities, leasing, hire-purchase, insurance business, chit business. No deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation of India is available to depositors of NBFCs, unlike in case of banks. NBFCs can deposit depositors’ money in the share market unlike banks.
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Question 4 of 10
4. Question
2 pointsWhich of the following statements are true regarding the Ombudsman scheme for digital transactions?
1.It is launched under Payment and Settlement Systems Act, 2007 which will provide a complaint redressal mechanism relating to digital transactions conducted through non-bank entities (like mobile wallets or tech enabled payment companies using UPI for settlements).
2.The Banking Ombudsman is a quasi-judicial authority appointed by the Ministry of Finance. It aims to provide a cost-effective grievance redressal mechanism to customers.
Choose the correct answer using the codes given belowCorrect
The Ombudsman is appointed by the RBI. The complaint has to be first filed in the respective banks before approaching the Ombudsman. The power of the Appellate Authority, which is vested with a Deputy Governor of the RBI. All Scheduled Commercial Banks, Regional Rural Banks & Scheduled Primary Cooperative Banks are covered under the Scheme.
Incorrect
The Ombudsman is appointed by the RBI. The complaint has to be first filed in the respective banks before approaching the Ombudsman. The power of the Appellate Authority, which is vested with a Deputy Governor of the RBI. All Scheduled Commercial Banks, Regional Rural Banks & Scheduled Primary Cooperative Banks are covered under the Scheme.
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Question 5 of 10
5. Question
2 pointsConsider the following statements about Bharat 22 Exchange Traded Fund (ETF)
1.Bharat 22 is an ETF that will consist of bluechip stocks of 16 public sector enterprises, 3 public sector banks and three private companies (L&T, ITC & Axis Bank).
2.The ETF mechanism is an effective way for the government to divest a small portion of its stakes in a big basket and meet its disinvestment targets.
3.Specified Undertakings of the Unit Trust of India will manage the ETF.Which of the above statements are true?
Correct
ICICI Prudential Asset Management Company (AMC) will manage the ETF. The Bharat-22 is a well-diversified ETF spanning six sectors — basic materials, energy, finance, FMCG, industrials and utilities.
ETF is different from a Mutual Fund (MF) in a way that it is traded on public stock exchanges and its ownership can be bought, sold or transferred in the same way as stocks. This is unlike MFs where transaction is done only by the fund manager.Incorrect
ICICI Prudential Asset Management Company (AMC) will manage the ETF. The Bharat-22 is a well-diversified ETF spanning six sectors — basic materials, energy, finance, FMCG, industrials and utilities.
ETF is different from a Mutual Fund (MF) in a way that it is traded on public stock exchanges and its ownership can be bought, sold or transferred in the same way as stocks. This is unlike MFs where transaction is done only by the fund manager. -
Question 6 of 10
6. Question
2 pointsConsider the following statements regarding government initiatives for road safety
1. Sukhad Yatra App provides for road quality related information or to report any accident or pothole on the highway.
2. Government had signed the Brasilia declaration (on Road Safety) in 2015, committing to reduce road accidents and fatality by 50% by 2022.
3. Toll-Free Emergency Number (1033) to report an emergency condition, highway-related feedback, or access ambulance services.
Which of the above statements are true?Correct
Government has approved the National Road Safety Policy which outlines the policy initiatives on road safety and the National Road Safety Council (NRSC) is the apex body to make policy decisions in matters of road safety. NRSC also conducts Road Safety Audits (RSA) for assessing safety performance examination of an existing or future road or intersection.
Incorrect
Government has approved the National Road Safety Policy which outlines the policy initiatives on road safety and the National Road Safety Council (NRSC) is the apex body to make policy decisions in matters of road safety. NRSC also conducts Road Safety Audits (RSA) for assessing safety performance examination of an existing or future road or intersection.
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Question 7 of 10
7. Question
2 pointsWhich of the following statements are true regarding multimodal terminals on inland waterways?
1.India’s first multi-modal terminal on inland waterways was inaugurated in Kolkata. This is being constructed on the National Waterway-1.
2.Inland Waterways Authority of India (IWAI), a statutory body, is the nodal agency for development of inland waterways.
Choose the correct answer using the codes given belowCorrect
India’s first multimodal terminal was inaugurated in Varanasi. The ‘Jal Marg Vikas Project’ on National Waterways-I (NW-I) in river Ganga, a large integrated IWT project, is launched between Varanasi and Haldia covering a distance of 1380 kms. The project is being implemented with the technical assistance & investment support of the World Bank. The National Waterways Act, 2016 declares a total of 111 National Waterways.
Incorrect
India’s first multimodal terminal was inaugurated in Varanasi. The ‘Jal Marg Vikas Project’ on National Waterways-I (NW-I) in river Ganga, a large integrated IWT project, is launched between Varanasi and Haldia covering a distance of 1380 kms. The project is being implemented with the technical assistance & investment support of the World Bank. The National Waterways Act, 2016 declares a total of 111 National Waterways.
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Question 8 of 10
8. Question
2 pointsConsider the following statements regarding FASTER ADOPTION AND MANUFACTURING OF (HYBRID &) ELECTRIC VEHICLES-II (FAME)
1.FAME Phase II builds over the Phase 1 of the scheme with greater focus on demand-creation by pushing adoption of EVs in public transport/commercial segment.
2.Special incentives will be given for local manufacturing of critical components for electric vehicles, especially the lithium ion batteries.
3.About 2,70,000 charging stations will be established in metros, million plus cities, smart cities and cities of hilly states across the country.
Which of the above statements are true?Correct
About 2700 charging stations will be established. The guidelines propose setting up at least one charging station in a grid of 3km x 3km in the cities; and on both sides of highways connecting major city clusters at every 25km. Existing retail outlets of oil marketing companies (OMCs) will be given higher preference for setting up public charging stations.
Incorrect
About 2700 charging stations will be established. The guidelines propose setting up at least one charging station in a grid of 3km x 3km in the cities; and on both sides of highways connecting major city clusters at every 25km. Existing retail outlets of oil marketing companies (OMCs) will be given higher preference for setting up public charging stations.
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Question 9 of 10
9. Question
2 pointsWhich of the following statements are true regarding regional connectivity scheme?
1.The Airports Authority of India (AAI) is the implementing authority. It is a key component of National Civil Aviation Policy.
2.The partner State Governments (other than NE States and UT where contribution will be 10 %) would contribute a 50% share to the regional connectivity fund. Further, the state governments will subsidize the losses incurred by airlines flying out of dormant airports.Choose the correct answer using the codes given below
Correct
The Centre will subsidize the losses incurred by airlines. About 80% of the subsidy will be collected by charging a levy of up to ₹8,500 on each departing flight of domestic airlines and the rest 20% will come from the respective state governments.
The partner State Governments would contribute a 20% share to the regional connectivity fund. State governments will have to provide free security and fire service, utilities at concessional rates and reduce VAT on Aviation Turbine Fuel to 1 percent. No landing charges, parking charges and Terminal Navigation Landing Charges will be imposed for RCS flights.Incorrect
The Centre will subsidize the losses incurred by airlines. About 80% of the subsidy will be collected by charging a levy of up to ₹8,500 on each departing flight of domestic airlines and the rest 20% will come from the respective state governments.
The partner State Governments would contribute a 20% share to the regional connectivity fund. State governments will have to provide free security and fire service, utilities at concessional rates and reduce VAT on Aviation Turbine Fuel to 1 percent. No landing charges, parking charges and Terminal Navigation Landing Charges will be imposed for RCS flights. -
Question 10 of 10
10. Question
2 pointsConsider the following statements regarding PM Jan Vikas Karyakram
1.It has been identified as one of the Core of the Core Schemes under National Development Agenda of NITI Aayog.
2.It was designed to address the developmental gaps/deficits in identified backward minority concentration areas through greater devolution of funds to the local bodies.
3.Funding of the scheme would be from budgetary provision of the Ministry of Human Resource Development. 80% would be earmarked for projects related to education, health and skill development.
Which of the above statements are true?Correct
Funding of the scheme would be from budgetary provision of the Ministry of Minority Affairs. Scheme is designed to address the developmental gaps/deficits in identified backward minority concentration areas by topping up of existing Centrally Sponsored Schemes of various Central ministries/departments without any change in the norms, guidelines and the funding pattern. All implementing agencies are to be brought under Public Finance Management System (PFMS) and its effective use ensured to monitor fund utilization has been made in PMJVK
Incorrect
Funding of the scheme would be from budgetary provision of the Ministry of Minority Affairs. Scheme is designed to address the developmental gaps/deficits in identified backward minority concentration areas by topping up of existing Centrally Sponsored Schemes of various Central ministries/departments without any change in the norms, guidelines and the funding pattern. All implementing agencies are to be brought under Public Finance Management System (PFMS) and its effective use ensured to monitor fund utilization has been made in PMJVK
