Financial Inclusion Scheme Quiz

What does PMJDY stand for?

• Pradhan Mantri Jan Dhan Yojana

• Pradhan Mantri Jan Dhan Yojna

• Prime Minister Jan Dhan Yojana

• Pradhan Mantri Jan Dhan Yojanaa

What is the full form of PMSBY?

• Prime Minister Security Bima Yojana

• Public Money Security Bima Yojana

• Personal Medical Security Bima Yojana

• Pradhan Mantri Suraksha Bima Yojana

What does APY stand for in the context of financial schemes?

• Accumulated Percentage Yield

• Annual Profit Yield

• Annual Percentage Yield

• Average Percentage Yield

Explain the concept of Financial Inclusion Scheme.

• Financial Inclusion Scheme is a government initiative to provide financial services to the unbanked population and promote financial literacy and awareness.

• Financial Inclusion Scheme aims to limit access to financial services

• Financial Inclusion Scheme focuses on promoting excessive borrowing

• Financial Inclusion Scheme is a program to exclude people from financial services

What is the significance of Repo Rate in the economy?

• Repo Rate is significant in the economy as it influences borrowing costs, liquidity, and ultimately economic growth.

• Repo Rate has no impact on the economy

• Repo Rate affects international trade only

• Repo Rate determines the stock market performance

Define Cash Reserve Ratio (CRR) and its purpose.

• CRR is the percentage of total deposits that banks are required to keep with the central bank in the form of reserves to ensure liquidity and solvency of the banking system.

• CRR is the term used for the profit banks make from investments

• CRR is the interest rate set by banks for lending to customers

• CRR is the amount of cash banks must keep in their ATMs

What is Statutory Liquidity Ratio (SLR) and why is it important?

• SLR is the total amount of money that banks must keep in their vaults to prevent theft, and it is important for security purposes.

• SLR is the percentage of total deposits that banks are required to maintain in the form of liquid cash, gold, or other securities to ensure liquidity and financial stability.

• SLR is the interest rate at which banks lend money to each other, and it is important for setting the benchmark for other interest rates.

• SLR is the ratio of a bank's capital to its total assets, and it is important for determining the bank's profitability.

How does PMJDY contribute to financial inclusion?

• PMJDY contributes to financial inclusion by limiting access to banking services

• PMJDY contributes to financial inclusion by promoting cash transactions over digital payments

• PMJDY contributes to financial inclusion by providing access to banking services and promoting financial literacy.

• PMJDY contributes to financial inclusion by increasing financial illiteracy

Discuss the impact of PMSBY on financial security.

• PMSBY has positively impacted financial security by providing insurance coverage for accidental death or disability, offering a safety net for individuals and families.

• PMSBY has led to decreased insurance coverage

• PMSBY has increased financial insecurity

• PMSBY has no impact on financial security

Explain the benefits of Atal Pension Yojana (APY).

• Lifetime supply of chocolate

• Unlimited travel vouchers

• Free healthcare benefits

• The benefits of Atal Pension Yojana (APY) include guaranteed pension, financial security during old age, government co-contribution for eligible subscribers, and easy enrollment process.