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Home › Banking › Financial Inclusion & Govt Schemes

Financial Inclusion & Govt Schemes — Banking Questions & Practice

Practise 26 Financial Inclusion & Govt Schemes questions from Banking for competitive exams such as UPSC, Banking, SSC and Railway. Read the worked questions below, check every answer with an explanation, and track what you get wrong.

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Practice questions on Financial Inclusion & Govt Schemes — with answers

Try each question first, then open the answer. Explanations are included.

1. The Pradhan Mantri Jan Dhan Yojana (PMJDY), India's flagship financial inclusion scheme, was launched in which year?

  1. A2010
  2. B2014
  3. C2016
  4. D2019
Show answer

Answer: B

The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched in August 2014, aiming to provide universal access to banking services for all households.

2. Under the Pradhan Mantri Jan Dhan Yojana (PMJDY), account holders are typically provided with which combination of benefits?

  1. AA zero-balance bank account, a RuPay debit card, and accident insurance cover
  2. BFree housing
  3. CFree healthcare for life
  4. DGuaranteed government employment
Show answer

Answer: A

PMJDY accounts typically come with a zero-balance facility, a RuPay debit card, and an accompanying accident insurance cover.

3. The 'JAM Trinity', a key framework underpinning India's direct benefit transfer system, refers to the combination of:

  1. AJan Dhan accounts, Aadhaar, and Mobile numbers
  2. BJobs, Assets, and Money
  3. CJustice, Administration, and Monitoring
  4. DJob cards, Aadhaar, and MSME registration
Show answer

Answer: A

The 'JAM Trinity' refers to the combined use of Jan Dhan bank accounts, Aadhaar identification, and Mobile numbers to enable efficient direct benefit transfers.

4. The Pradhan Mantri Mudra Yojana (PMMY), aimed at providing collateral-free micro-loans to small businesses, was launched in which year?

  1. A2014
  2. B2015
  3. C2017
  4. D2019
Show answer

Answer: B

The Pradhan Mantri Mudra Yojana (PMMY) was launched in 2015, providing collateral-free micro-loans to small and micro enterprises.

5. Under the Pradhan Mantri Mudra Yojana, loans are categorized into three types based on loan amount and stage of business; what is the loan category known as 'Shishu'?

  1. ALoans up to Rs 50,000
  2. BLoans between Rs 50,000 and Rs 5 lakh
  3. CLoans between Rs 5 lakh and Rs 10 lakh
  4. DLoans above Rs 10 lakh
Show answer

Answer: A

'Shishu', the first category of Mudra loans, covers loans up to Rs 50,000, aimed at very small and early-stage businesses.

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