Govt Scheme MCQs for RBI Grade B – Quiz 9

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Dear aspirants,
We are presenting you the Quiz 9 of our RBI Grade B Question Series 2019. These MCQs will cover the Govt Scheme MCQs for RBI Grade B which are very important from exam point of view. Also do read the answers provided at the end of quiz.

Govt Scheme MCQs for RBI Grade B

Q1. What is the annual premium amount of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?

    1. Rs 12
    2. Rs 240
    3. Rs 330
    4. Rs 561

Q2. What is assured rate of return under Pradhan Mantri Vaya Vandana Yojana (PMVVY)?

    1. 12%
    2. 10%
    3. 9%
    4. 8%

Q3. Consider following statement(s) about Stand Up India Scheme:
a) It is a scheme for financing SC/ST and/or Women Entrepreneurs..
b) The objective of the Stand-Up India scheme is to facilitate bank loans between Rs 10 lakh to Rs 1 crore for setting up greenfield enterprise.
c) The loan may be secured by collateral security or guarantee of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL) as decided by the banks.
d) In case of non-individual enterprises at least 75% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur.
Choose the correct answer out of the following options:

  1. Only b, c and d
  2. Only a, b and c
  3. Only a, c and d
  4. All are correct

Q4. Consider following statement(s) about MUDRA Yojana:
a) Micro Units Development & Refinance Agency Ltd. (MUDRA) was set up on April 08, 2015 as a wholly owned subsidiary of SIDBI for “funding the unfunded” micro enterprises in the country
b) The beneficiaries can get loan assistance from Rs. 50,000 to Rs. 10 lakh.
c) MUDRA has created three products namely ‘Shishu’, ‘Kishore’ and ‘Tarun’ to signify the stage of growth / development and funding needs of the beneficiary micro unit / entrepreneur.
d) The MUDRA bank has corpus of Rs. 20,000 crore and credit guarantee corpus of Rs. 3000 crore.
Choose the correct answer out of the following options:

  1. Only b, c and d
  2. Only a, b and c
  3. Only a, c and d
  4. All are correct

Q5. What is the revised Overdraft limit under Pradhan Mantri Jan Dhan Yojana (PMJDY)?

    1. Rs 6000
    2. Rs 7500
    3. Rs 10000
    4. Rs 12500

Q6. Who is the Central Recordkeeping Agency (CRA) for National Pension System (NPS)?

    1. NSDL
    2. RBI
    3. LIC
    4. CSDL

Q7. What is the rate of interest payable on investment made under Sovereign Gold Bond Scheme?

    1. 2%
    2. 2.5%
    3. 4%
    4. 6%

Q8. What is the maximum loan amount a MSME borrower can avail through psbloansin59minutes.com portal?

    1. Rs 15 lakh
    2. Rs 2 crore
    3. Rs 5 crore
    4. Rs 10 crore

Q9. What is the maximum loan amount a home loan borrower can avail through psbloansin59minutes.com portal?

    1. Rs 15 lakh
    2. Rs 2 crore
    3. Rs 5 crore
    4. Rs 10 crore

Q10. What is the maximum loan amount a home loan borrower can avail through psbloansin59minutes.com portal?

    1. Rs 15 lakh
    2. Rs 2 crore
    3. Rs 5 crore
    4. Rs 10 crore

Answers

  1. 3
    Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) was launched on 9th May, 2015. It is one year cover Term Life Insurance Scheme, renewable from year to year, offering life insurance cover for death due to any reason. The premium is Rs 330 per annum.
  2. 4
    Government has launched the Pradhan Mantri Vaya Vandana Yojana (PMVVY) to provide social security during old age and to protect elderly persons aged 60 and above against a future fall in their interest income due to uncertain market conditions. he scheme provides an assured return of 8% per annum for 10 years. Minimum purchase price under the scheme is Rs.1,50,000/- for a minimum pension of Rs. 1,000/- per month. The maximum purchase price is Rs.15,00,000/- for a maximum pension of Rs.5,000/- per month.
  3. 2
    Stand-Up India is a Scheme for financing SC/ST and/or Women Entrepreneurs. The objective of the Stand-Up India scheme is to facilitate bank loans between 10 lakh and  1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a greenfield enterprise. This enterprise may be in manufacturing, services or the trading sector. In case of non-individual enterprises at least 51% of the shareholding and controlling stake should be held by either an SC/ST or Woman entrepreneur. Besides primary security, the loan may be secured by collateral security or guarantee of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL) as decided by the banks.
  4. 4
    Micro Unit Development and Refinance Agency (MUDRA) was proposed in Union Budget 2015-16 to fund the unfunded entrepreneur. Prime Minister Narendra Modi launched MUDRA bank on April 8, 2015. MUDRA Bank will be set up through an enactment of law and it will take some time. To begin with, the same is being operationalised as a subsidiary of Small Industries Development Bank of India (SIDBI). The MUDRA bank has corpus of Rs. 20,000 crore and credit guarantee corpus of Rs. 3000 crore. The beneficiaries can get assistance from Rs. 50,000 to Rs. 10 lakh. According to the stage of growth/development, the funding needs of entrepreneur are classified into three categories:
    Shishu: covering loans upto Rs. 50,000/-
    Kishor: covering loans above Rs. 50,000/- and upto Rs. 5 lakh
    Tarun: covering loans above Rs. 5 lakh and upto Rs. 10 lakh
  5. 3
    Pradhan Mantri Jan-Dhan Yojana (PMJDY)” under the National Mission for Financial Inclusion was launched initially for a period of 4 years (in two phases) on 28th August 2014. It envisages universal access to banking facilities with at least one basic banking account for every household, financial literacy, access to credit, insurance and pension. Existing Over Draft (OD) limit of Rs. 5,000 revised to 10,000.
  6. 1
    Pension Fund Regulatory and Development Authority (PFRDA), the regulatory body for NPS, has appointed NSDL as Central Recordkeeping Agency (CRA) for National Pension System
  7. 2
    Sovereign Gold Bonds (SGBs) are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bonds are issued in denominations of one gram of gold and in multiples thereof. Minimum Investment: 1 gram, Maximum Investment: 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF), 20 kg for trusts and similar entities per annum. The Bonds bear interest at the rate of 50% per annum on the amount of initial investment. Interest will be credited semi-annually to the bank account of the investor and the last interest will be payable on maturity along with the principal.
  8. 3
    An MSME can avail business loan from INR 1 Lac to INR 5 Crore through www.psbloansin59minutes.com
  9. 4
    A borrower can avail In-principle approval for home loan up to INR 10 Crore through www.psbloansin59minutes.com.
  10. 1
    A borrower can avail in-principle approval for personal loans up to Rs 15 Lacs through www.psbloansin59minutes.com

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