UPSC Indian Economy – Chapter 13: Financial Inclusion, Insurance and Pensions (29 MCQs)

The Pradhan Mantri Jan-Dhan Yojana was launched in:

Which sub-index carries the highest weight in the RBI's Financial Inclusion Index?

The annual premium under the Pradhan Mantri Suraksha Bima Yojana is:

Under the PM MUDRA Yojana, "Tarun Plus" loans are:

Consider the following statements about the Atal Pension Yojana:
1. It is open to citizens aged 18 to 40 years.
2. Since October 2022, income-tax payers have been allowed to join it.
Which of the statements given above is/are correct?

The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 raised the limit of FDI in Indian insurance companies to:

"Insurance penetration" is measured as:

Arrange the following in chronological order:
1. IRDA Act
2. Formation of the Life Insurance Corporation
3. PFRDA Act
4. Nationalisation of general insurance
Select the correct answer:

Under the Unified Pension Scheme, an employee with 25 years of service gets an assured pension of:

The National Pension System became compulsory for new Central Government employees (other than the armed forces) joining on or after:

The design of the National Pension System is based on the report of:

Assertion (A): Under the RBI's 2022 framework, a microfinance loan is a collateral-free loan to a household with an annual income of up to Rs 3 lakh.
Reason (R): The framework caps a household's total loan repayments at 70 per cent of its monthly income.

The Lead Bank Scheme was introduced on the basis of the recommendations of:

The RBI allowed banks to use business correspondents to reach unbanked areas in:

Consider the following statements about the Stand-Up India scheme as launched in 2016: 1. It provided bank loans between Rs 10 lakh and Rs 1 crore.
2. It targeted SC, ST and women entrepreneurs. 3. It financed only the expansion of existing units.
Which of the statements given above are correct?

Under PMFBY, the farmer's premium for annual commercial and horticultural crops is:

The Pradhan Mantri Jeevan Jyoti Bima Yojana provides:

Consider the following schemes:
1. PM Jeevan Jyoti Bima Yojana
2. PM Suraksha Bima Yojana
3. Atal Pension Yojana
4. PM Fasal Bima Yojana
How many of the above are counted among the "Jan Suraksha" social-security schemes launched in 2015?

The RBI's Financial Inclusion Index was first published in:

The Pension Fund Regulatory and Development Authority became a statutory body under an Act of:

In India, which of the following can trade in Corporate Bonds and Government Securities?
1. Insurance Companies
2. Pension Funds
3. Retail Investors
Select the correct answer using the code given below:

Consider the following statements:
1. The Self-Help Group (SHG) Programme was originally initiated by the State Bank of India by providing microcredit to the financially deprived.
2. In an SHG, all members of a group take responsibility for a loan that an individual member takes.
3. The Regional Rural Banks and Scheduled Commercial Banks support SHGs.
How many of the above statements are correct?

Under the Kisan Credit Card Scheme, short-term credit support is given to farmers for which of the following purposes?
1. Working capital for maintenance of farm assets
2. Purchase of combine harvesters, tractors and mini trucks
3. Consumption requirements of farm households
4. Post-harvest expenses
5. Construction of family house and setting up of village cold storage facility
Select the correct answer using the code given below:

In India, under cyber insurance for individuals, which of the following benefits are generally covered, in addition to payment for the loss of funds and other benefits?
1. Cost of restoration of the computer system in case of malware disrupting access to one's computer
2. Cost of a new computer if some miscreant wilfully damages it, if proved so
3. Cost of hiring a specialized consultant to minimize the loss in case of cyber extortion
4. Cost of defence in the Court of Law if any third party files a suit
Select the correct answer using the code given below:

The Service Area Approach was implemented under the purview of:

Regarding 'Atal Pension Yojana', which of the following statements is/are correct?
1. It is a minimum guaranteed pension scheme mainly targeted at unorganized sector workers.
2. Only one member of a family can join the scheme.
3. Same amount of pension is guaranteed for the spouse for life after subscriber's death.
Select the correct answer using the code given below.

Pradhan Mantri MUDRA Yojana is aimed at

With reference to 'Pradhan Mantri Fasal Bima Yojana', consider the following statements:
1. Under this scheme, farmers will have to pay a uniform premium of two percent for any crop they cultivate in any season of the year.
2. This scheme covers post-harvest losses arising out of cyclones and unseasonal rains.
Which of the statements given above is/are correct?

Pradhan Mantri Jan-Dhan Yojana has been launched for