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Home › Banking › Government Financial Schemes

Government Financial Schemes — Banking Questions & Practice

Practise 23 Government Financial 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 Government Financial Schemes — with answers

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

1. Which of the following describes the 'Stand-Up India Scheme'?

  1. AA government accident insurance scheme offering Rs. 2 lakh cover for accidental death/disability, for a very low annual premium
  2. BA national mission for financial inclusion launched in 2014, providing zero-balance bank accounts, RuPay debit cards, and accident insurance
  3. CA scheme facilitating bank loans between Rs. 10 lakh and Rs. 1 crore to at least one SC/ST and one woman borrower per bank branch
  4. DA scheme providing farmers with timely access to credit for agricultural and allied needs
Show answer

Answer: C

'Stand-Up India Scheme': A scheme facilitating bank loans between Rs. 10 lakh and Rs. 1 crore to at least one SC/ST and one woman borrower per bank branch.

2. Which of the following describes the 'Pradhan Mantri Vaya Vandana Yojana (PMVVY)'?

  1. AA government pension scheme guaranteeing a fixed monthly pension after age 60, primarily targeted at the unorganized sector
  2. BA national mission for financial inclusion launched in 2014, providing zero-balance bank accounts, RuPay debit cards, and accident insurance
  3. CA pension scheme for senior citizens (60 years and above) providing an assured return
  4. DA government accident insurance scheme offering Rs. 2 lakh cover for accidental death/disability, for a very low annual premium
Show answer

Answer: C

'Pradhan Mantri Vaya Vandana Yojana (PMVVY)': A pension scheme for senior citizens (60 years and above) providing an assured return.

3. Which of the following describes the 'Kisan Credit Card (KCC) Scheme'?

  1. AA scheme providing farmers with timely access to credit for agricultural and allied needs
  2. BA government life insurance scheme offering Rs. 2 lakh cover on death due to any reason, for an annual premium
  3. CA pension scheme for senior citizens (60 years and above) providing an assured return
  4. DA scheme providing loans up to Rs. 10 lakh to non-corporate, non-farm small/micro enterprises
Show answer

Answer: A

'Kisan Credit Card (KCC) Scheme': A scheme providing farmers with timely access to credit for agricultural and allied needs.

4. Which of the following describes the 'Pradhan Mantri Fasal Bima Yojana (PMFBY)'?

  1. AA small savings scheme aimed at securing the future of the girl child
  2. BA national mission for financial inclusion launched in 2014, providing zero-balance bank accounts, RuPay debit cards, and accident insurance
  3. CA crop insurance scheme providing financial support to farmers in case of crop failure
  4. DA government accident insurance scheme offering Rs. 2 lakh cover for accidental death/disability, for a very low annual premium
Show answer

Answer: C

'Pradhan Mantri Fasal Bima Yojana (PMFBY)': A crop insurance scheme providing financial support to farmers in case of crop failure.

5. Which of the following describes the 'Sukanya Samriddhi Yojana'?

  1. AA government pension scheme guaranteeing a fixed monthly pension after age 60, primarily targeted at the unorganized sector
  2. BA national mission for financial inclusion launched in 2014, providing zero-balance bank accounts, RuPay debit cards, and accident insurance
  3. CA small savings scheme aimed at securing the future of the girl child
  4. DA scheme providing farmers with timely access to credit for agricultural and allied needs
Show answer

Answer: C

'Sukanya Samriddhi Yojana': A small savings scheme aimed at securing the future of the girl child.

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