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1.  
About SEBI, which is/are correct?
I. It was constituted as a non-statutory body on 12 April 1988.
II. It got statutory powers through the SEBI Act, 1992, in force from 30 January 1992.
III. Its board has 9 members including two RBI officials.

Correct Answer: B [Only I and II]

Explanation:

I and II true; the board has ONE RBI official and two Finance Ministry officials.

2.  
About development financial institutions, which is/are correct?
I. NABARD was set up on 12 July 1982 and has its head office in Mumbai.
II. SIDBI was set up on 2 April 1990 under the SIDBI Act, 1989.
III. NHB was set up on 9 July 1988 and has its head office in Mumbai.

Correct Answer: A [Only I and II]

Explanation:

I and II true; NHB is in New Delhi.

3.  
About the DICGC, which is/are correct?
I. Cover is up to ₹ 5 lakh per depositor per bank, principal and interest together.
II. Deposits received by banks outside India are insured.
III. Its head office is in Mumbai.

Correct Answer: C [Only I and III]

Explanation:

I and III true; deposits received outside India are excluded.

4.  
About pensions, which is/are correct?
I. NPS became effective for new Central Government employees (except armed forces) from 1 January 2004.
II. NPS was opened to all citizens in 2009.
III. The PFRDA Act, 2013 came into force on 1 April 2013.

Correct Answer: D [Only I and II]

Explanation:

I and II true; the Act was notified effective 1 February 2014.

5.  
About NPCI, which is/are correct?
I. It is a Section 8 (not-for-profit) company.
II. It was incorporated in 2008.
III. It is a statutory regulator of payment systems.

Correct Answer: E [Only I and II]

Explanation:

I and II true; NPCI operates retail payment systems – the RBI regulates them.

6.  
Match the body with the law under which it works:
(i) IBBI (ii) IFSCA (iii) NPCI (iv) DICGC
(p) IFSCA Act, 2019 (q) DICGC Act, 1961 (r) Insolvency and Bankruptcy Code, 2016 (s) PSS Act, 2007

Correct Answer: A [i-r, ii-p, iii-s, iv-q]

Explanation:

Direct look-up from the master table.

7.  
About insurance regulation, which is/are correct?
I. IRDAI was set up under the IRDA Act, 1999.
II. IRDAI's head office is in Hyderabad.
III. The 2025 amendment Act raised the FDI limit in Indian insurance companies to 100%.

Correct Answer: C [All of I, II and III]

Explanation:

All three are correct.

8.  
Two depositors' banks fail. Which is/are correct?
I. A with ₹ 5.2 lakh in one bank gets ₹ 5 lakh.
II. B with ₹ 2 lakh + ₹ 1.5 lakh in Bank X and ₹ 0.9 lakh in Bank Y gets ₹ 4.4 lakh in all.
III. A gets more than B.

Correct Answer: B [All of I, II and III]

Explanation:

A: min(5.2, 5) = 5; B: 3.5 + 0.9 = 4.4; 5 > 4.4 – all correct.

9.  
Odd one out (head office city):

Correct Answer: E [PFRDA]

Explanation:

SEBI, ECGC, NABARD and DICGC – Mumbai; PFRDA – New Delhi.

10.  
About the history of NABARD and DICGC, which is/are correct?
I. CRAFICARD, whose report led to NABARD, was set up on 30 March 1979.
II. NABARD was dedicated to the nation on 5 November 1982.
III. The DICGC Act was passed in 1978.

Correct Answer: D [Only I and II]

Explanation:

I and II true; the Act is of 1961 – the DICGC was formed in 1978.

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