Financial Inclusion

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✅ CHAPTER 1 – FINANCIAL INCLUSION BASICS (15 MCQs)

1. Financial Inclusion means:

(a) High-cost banking for rich
(b) Affordable banking for all
(c) Banking only for business
(d) Online banking only
Answer: (b)

2. Financial Inclusion mainly targets:

(a) HNIs
(b) NRIs
(c) Disadvantaged & low-income groups
(d) MSMEs
Answer: (c)

3. Financial Inclusion includes which products?

(a) Pension & micro-insurance
(b) Only term loans
(c) Only FD/RD
(d) Only credit cards
Answer: (a)

4. Banks, Govt & RBI started FI efforts mainly from year:

(a) 1991
(b) 2005
(c) 2010
(d) 2014
Answer: (b)

5. SVS stands for:

(a) Samagra Vitta Scheme
(b) Sampoorna Vitteeya Samaveshan
(c) Samaveshi Vittiya Sangh
(d) Social Vitta Samman
Answer: (b)

6. PMJDY is also known as:

(a) National Mission for Digital Payments
(b) National Mission for Financial Inclusion
(c) National Mission for Pension
(d) National Mission for MSME
Answer: (b)

7. FI aims to provide banking services as:

(a) Luxury goods
(b) Public good
(c) Private commodity
(d) Exclusive membership service
Answer: (b)

8. Which is NOT part of FI objective?

(a) Provide credit
(b) Provide insurance
(c) Provide investment advisory
(d) Provide pension
Answer: (c)

9. Govt launched PMJDY on:

(a) 15 Aug 2010
(b) 14 Aug 2014
(c) 15 Aug 2015
(d) 2 Oct 2014
Answer: (b)

10. FI focuses on:

(a) Urban rich
(b) Rural poor
(c) Only corporates
(d) High net-worth individuals
Answer: (b)

11. PMJDY provides access to:

(a) Deposit, remittance, credit
(b) Only deposit
(c) Only loan
(d) Only insurance
Answer: (a)

12. Insurance under FI includes:

(a) Micro life & general insurance
(b) Only general insurance
(c) Crop insurance only
(d) Motor insurance only
Answer: (a)

13. PMJDY was launched under:

(a) RBI
(b) Ministry of Finance
(c) NABARD
(d) NPCI
Answer: (b)

14. Financial Inclusion aims at:

(a) Only urban coverage
(b) Equal access to all
(c) Higher fees to poor
(d) Restricting services
Answer: (b)

15. PMJDY supports:

(a) Only savings
(b) Savings + credit + insurance + pension
(c) Only credit
(d) Only pension
Answer: (b)

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✅ CHAPTER 2 – FI PRODUCTS (35 MCQs)

(BSBD, PMJDY, Minor A/c, Small A/c, PMJJBY, PMSBY, OD)

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A. BSBD ACCOUNT (Basic Savings Bank Deposit) – 10 MCQs

1. BSBD account requires minimum balance of:

(a) ₹1,000
(b) ₹500
(c) Zero
(d) ₹100
Answer: (c)

2. Max balance allowed in BSBD account:

(a) ₹50,000
(b) ₹1 lakh
(c) ₹5 lakh
(d) No limit
Answer: (d)

3. Number of free withdrawals per month:

(a) 2
(b) 4
(c) 6
(d) Unlimited
Answer: (b)

4. BSBD account holder gets free:

(a) Credit card
(b) RuPay debit card
(c) Loan passbook
(d) Internet router
Answer: (b)

5. Number of free cheque leaves/year:

(a) 10
(b) 20
(c) 30
(d) 40
Answer: (c)

6. BSBD account holder cannot open:

(a) Another SB account in same bank
(b) FD account
(c) RD account
(d) Insurance
Answer: (a)

7. BSBD account provides:

(a) No internet banking
(b) Internet & Mobile Banking
(c) Only UPI
(d) Only card
Answer: (b)

8. Deposits allowed:

(a) Max 2 per month
(b) Unlimited
(c) Only 1 per day
(d) Only 4 per month
Answer: (b)

9. ATM withdrawals/month limited to:

(a) 6
(b) 4
(c) 10
(d) Unlimited
Answer: (b)

10. BSBD is opened under scheme code:

(a) SB124/SB130
(b) SB120
(c) SB115
(d) SB190
Answer: (a)

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B. PMJDY – MAIN ACCOUNT (15 MCQs)

1. PMJDY is basically:

(a) FD account
(b) Current account
(c) BSBD account
(d) NRE account
Answer: (c)

2. PMJDY can be opened by:

(a) Any resident individual
(b) NRI
(c) Company
(d) Trust
Answer: (a)

3. PMJDY account balance limit:

(a) ₹50,000
(b) ₹1 lakh
(c) No limit (if KYC compliant)
(d) ₹5 lakh
Answer: (c)

4. RuPay accidental insurance for accounts opened after 28-Aug-2018:

(a) ₹1 lakh
(b) ₹2 lakh
(c) ₹3 lakh
(d) ₹50,000
Answer: (b)

5. Free life cover available for first-time account holders (2014–15):

(a) ₹10,000
(b) ₹20,000
(c) ₹30,000
(d) ₹40,000
Answer: (c)

6. OD eligibility after:

(a) 3 months
(b) 6 months
(c) 9 months
(d) 12 months
Answer: (b)

7. Max overdraft under PMJDY:

(a) ₹2,000
(b) ₹5,000
(c) ₹10,000
(d) ₹15,000
Answer: (c)

8. OD allowed for:

(a) All accounts in household
(b) Only one account per household
(c) Only minors
(d) Only senior citizens
Answer: (b)

9. PMJDY initial account can be opened with:

(a) ₹100
(b) ₹500
(c) Zero balance
(d) ₹1,000
Answer: (c)

10. PMJDY accounts opened through:

(a) Branch only
(b) BC point only
(c) Both branch & BC
(d) ATM only
Answer: (c)

11. PMJDY insurance provided by:

(a) RBI
(b) NPCI RuPay Insurance Program
(c) NABARD
(d) IRDAI
Answer: (b)

12. SMS & Standing Instruction facility:

(a) Not allowed
(b) Allowed
(c) Only SMS allowed
(d) Only SI allowed
Answer: (b)

13. PMJDY accounts opened at BC use:

(a) Aadhaar with biometric
(b) PAN card only
(c) Driving license only
(d) Passport only
Answer: (a)

14. PMJDY account holder must close other SB account within:

(a) 7 days
(b) 10 days
(c) 30 days
(d) 60 days
Answer: (c)

15. PMJDY account provides:

(a) No passbook
(b) Passbook
(c) Only e-statement
(d) No documents
Answer: (b)

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C. PMJDY – MINOR ACCOUNT (5 MCQs)

1. Minor below 10 years:

(a) Self-operating
(b) Operated by guardian
(c) Not allowed
(d) Only joint
Answer: (b)

2. Minor 10 years & above can operate account:

(a) Only guardian
(b) Self
(c) Joint only
(d) Not allowed
Answer: (b)

3. Max balance for minors <14 yrs:

(a) ₹10,000
(b) ₹50,000
(c) ₹1 lakh
(d) No limit
Answer: (c)

4. Minor gets RuPay card:

(a) No
(b) Yes
Answer: (b)

5. Internet banking for minors:

(a) Allowed
(b) Not allowed
Answer: (b)

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D. SMALL ACCOUNT (SB136) – 5 MCQs

1. Max credit per year:

(a) ₹50,000
(b) ₹1 lakh
(c) ₹2 lakh
(d) ₹5 lakh
Answer: (b)

2. Max withdrawal per month:

(a) ₹5,000
(b) ₹10,000
(c) ₹15,000
(d) ₹20,000
Answer: (b)

3. Max balance anytime:

(a) ₹10,000
(b) ₹25,000
(c) ₹50,000
(d) ₹1 lakh
Answer: (c)

4. Small account allows ATM/UPI?

(a) Yes
(b) No
Answer: (b)

5. If KYC not updated after 24 months account:

(a) Closed
(b) Frozen
(c) Penalty charged
(d) Converted to PMJDY
Answer: (b)

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E. PMSBY & PMJJBY – 10 MCQs

1. PMSBY premium:

(a) ₹12
(b) ₹20
(c) ₹30
(d) ₹50
Answer: (b)

2. PMSBY is:

(a) Life insurance
(b) Accident insurance
(c) Medical insurance
(d) Crop insurance
Answer: (b)

3. PMJJBY age limit:

(a) 18–40
(b) 18–50
(c) 18–60
(d) 18–70
Answer: (b)

4. PMSBY age limit:

(a) 18–60
(b) 18–65
(c) 18–70
(d) 18–75
Answer: (c)

5. PMJJBY sum assured:

(a) ₹1 lakh
(b) ₹2 lakh
(c) ₹3 lakh
(d) ₹5 lakh
Answer: (b)

6. PMSBY death/total disability:

(a) ₹1 lakh
(b) ₹2 lakh
(c) ₹3 lakh
(d) ₹50,000
Answer: (b)

7. PMJJBY premium range:

(a) ₹114–436
(b) ₹100–200
(c) ₹20–50
(d) ₹300–600
Answer: (a)

8. PMSBY partial disability coverage:

(a) ₹50,000
(b) ₹1 lakh
(c) ₹2 lakh
(d) No cover
Answer: (b)

9. Both schemes are renewable:

(a) Every quarter
(b) Every year (1 June–31 May)
(c) Every 5 years
(d) Every month
Answer: (b)

10. PMSBY/PMJJBY accessible via:

(a) Branch
(b) BC
(c) SMS
(d) All
Answer: (d)

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✅ CHAPTER 3 – DELIVERY CHANNELS (20 MCQs)

1. Phase-I village coverage:

(a) 2005–07
(b) 2010–13
(c) 2014–16
(d) 2016–19
Answer: (b)

2. Phase-I covered villages with population:

(a) <1000
(b) >2000
(c) >5000
(d) >10,000
Answer: (b)

3. Phase-II covered villages population:

(a) <2000
(b) <500
(c) >3000
(d) None
Answer: (a)

4. Every village must have banking within:

(a) 2 km
(b) 3 km
(c) 5 km
(d) 10 km
Answer: (c)

5. Hill areas require coverage of:

(a) 200 households
(b) 300 households
(c) 500 households
(d) 1000 households
Answer: (c)

6. BC outlet is “Banking Outlet” if operational for:

(a) 2 hrs/day
(b) 3 hrs/day
(c) 4 hrs/day
(d) 8 hrs/day
Answer: (c)

7. BC must operate minimum:

(a) 3 days/week
(b) 4 days/week
(c) 5 days/week
(d) 6 days/week
Answer: (c)

8. BC uses:

(a) Micro ATM
(b) Biometric devices
(c) Tablets
(d) All
Answer: (d)

9. BC means:

(a) Banking Consultant
(b) Business Correspondent
(c) Banking Contractor
(d) Business Controller
Answer: (b)

10. BCs offer:

(a) Full range of banking
(b) Limited banking
(c) Only loans
(d) Only deposits
Answer: (b)

11. Coverage data sourced through:

(a) SARAL app
(b) Jan Dhan Darshak App
(c) UPI app
(d) RTGS app
Answer: (b)

12. BCs are:

(a) Bank employees
(b) Intermediaries
(c) Auditors
(d) Regulators
Answer: (b)

13. RBI allows BC outlets as:

(a) NBFC
(b) Banking Outlet
(c) Payment bank
(d) Cooperative
Answer: (b)

14. BC deliver:

(a) Cash-in/Cash-out
(b) Enrolments
(c) Remittances
(d) All
Answer: (d)

15. FI channel includes:

(a) Branch
(b) BC
(c) ATMs
(d) All
Answer: (d)

16. Bank Mitras are:

(a) Agents in hospitals
(b) BC Agents
(c) Insurance agents
(d) Bank guards
Answer: (b)

17. FI mission aims:

(a) Banking access everywhere
(b) Only city access
(c) Reduce branches
(d) Close BCs
Answer: (a)

18. BC model is:

(a) High-cost
(b) Low-cost
(c) No cost
(d) Premium
Answer: (b)

19. BCs use which authentication?

(a) Signature
(b) Card only
(c) Biometric
(d) Voice
Answer: (c)

20. Brick-and-Mortar branch approved by:

(a) CFO
(b) SLBC
(c) IRDA
(d) NPCI
Answer: (b)

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✅ CHAPTER 4 – BC INSPECTION & MONITORING (15 MCQs)

(From BC Inspection App section)

1. BC Inspection App captures:

(a) GPS
(b) Photos
(c) RRN
(d) All
Answer: (d)

2. Photos captured at BC point:

(a) Signboard
(b) Do’s & Don’ts
(c) Thermal printer
(d) All
Answer: (d)

3. RRN stands for:

(a) RuPay Registration Number
(b) Reference Retrieval Number
(c) Regional Record Number
(d) Rural Response Number
Answer: (b)

4. BC inspection monthly done by:

(a) Regional office
(b) Link branch
(c) RBI
(d) NPCI
Answer: (b)

5. Govt project BCs inspected:

(a) Monthly
(b) Quarterly
(c) Yearly
(d) Daily
Answer: (b)

6. Incognito BC visit done by:

(a) Same branch
(b) Different nearby branch
(c) RBI
(d) Police
Answer: (b)

7. BC point non-compliance leads to:

(a) Promotion
(b) Red flagging
(c) Reward
(d) Appreciation
Answer: (b)

8. BC inspection app includes:

(a) Forgot password
(b) Aadhaar authentication (coming)
(c) Observations entry
(d) All
Answer: (d)

9. BC observation NOT included:

(a) Satisfactory
(b) Unsatisfactory – fraud
(c) Unsatisfactory – non-performance
(d) Political opinion
Answer: (d)

10. Monitoring of BCs helps in:

(a) Compliance
(b) Fraud control
(c) Service improvement
(d) All
Answer: (d)

11. BC inspection app aims at:

(a) Manual reporting
(b) Digital tracking
(c) No reporting
(d) Only photos
Answer: (b)

12. BC inspection required for:

(a) All BC points
(b) Only urban BC
(c) Only rural BC
(d) Only new BCs
Answer: (a)

13. BC must not indulge in:

(a) Customer service
(b) Round-tripping
(c) Account opening
(d) Deposit collection
Answer: (b)

14. BC inspection helps record:

(a) Activities digitally
(b) Only manual logs
(c) No data
(d) Penalties
Answer: (a)

15. BC monitoring responsibility:

(a) NPCI
(b) Bank
(c) IRDA
(d) GST
Answer: (b)

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✅ CHAPTER 5 – BC INCENTIVE STRUCTURE (15 MCQs)

1. BC incentive rate:

(a) 1%
(b) 0.60% per annum
(c) 5%
(d) 10%
Answer: (b)

2. Incentive rate per month:

(a) 0.10%
(b) 0.05%
(c) 0.50%
(d) 0.005%
Answer: (b)

3. Max balance considered for incentive:

(a) ₹50k
(b) ₹1 lakh
(c) ₹2 lakh
(d) No limit
Answer: (b)

4. Minimum average balance for BC (SSA-R):

(a) ₹10 lakh
(b) ₹15 lakh
(c) ₹20 lakh
(d) ₹5 lakh
Answer: (b)

5. Minimum average balance for BC (NSSA-R):

(a) ₹10 lakh
(b) ₹15 lakh
(c) ₹20 lakh
(d) ₹5 lakh
Answer: (c)

6. Additional incentive for women BCs:

(a) 5%
(b) 10%
(c) 15%
(d) 20%
Answer: (c)

7. Minimum no. of SB accounts to maintain (SSA-R):

(a) 200
(b) 300
(c) 400
(d) 500
Answer: (c)

8. Minimum no. of SB accounts to maintain (NSSA-R):

(a) 500
(b) 600
(c) 400
(d) 450
Answer: (a)

9. Minimum login days in a month:

(a) 10
(b) 15
(c) 20
(d) 25
Answer: (c)

10. BC inactivity allowed max:

(a) 10 days
(b) 20 days
(c) 30 days
(d) 60 days
Answer: (c)

11. PMJDY accounts required per month:

(a) 5–10
(b) 20
(c) 50
(d) 100
Answer: (a)

12. RuPay financial transaction requirement (SSA-R):

(a) 1
(b) 2
(c) 3
(d) 4
Answer: (b)

13. RuPay financial transaction requirement (SSA-U):

(a) 1
(b) 2
(c) 3
(d) 4
Answer: (d)

14. BC must avoid:

(a) Round-tripping
(b) Misappropriation
(c) Suspected fraud
(d) All
Answer: (d)

15. Incentive applies on:

(a) Daily balance
(b) Average weekly balance
(c) Quarterly balance
(d) Annual balance
Answer: (b)

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