Schemes and RBI Circulars mentioned in C.A Flashcards
PM JANMAN scheme was launched for the development of 75 PVTGs (Particularly Vulnerable Tribal Groups). What is the full form and what is the budget allocated for the scheme?
The budget allocated for the PM Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) is ₹24104 crore with central share of ₹15336 crores and State share of ₹8768 crores.
The PM JANMAN was launched on 15 Nov 2023 for the Socio-economic development of PVTGs by providing basic facilities to PVTGs’ households such as housing, clean drinking water & Sanitation, education, electricity, telecom connectivity and Sustainable livelihood opportunities
The Cabinet extended the PMGKAY (Pradhan Mantri Garib Kalyan Anna Yojana) till what period?
Under PMGKAY, \_\_\_kg of free foodgrains are provided monthly to beneficiaries in addition to benefits under the NFSA (National Food Security Act 2013)?
Ans-
* For 5 years from Jan 1, 2024 to 2029
- 5 kg. The PMGKAY was subsumed under the NFSA Act 2013 for the year 2023.
The Cabinet extended the Fast Track Special Court (FTSC) scheme till?
The scheme is implemented by which department?
Ans-
* For 3 years till March 2026
- The FTSC (Fast Track Special Court) scheme is implemented by the Department of Justice, Ministry of Law & Justice. The FTSCs are special courts established to expedite the litigation process related to sexual offences, particularly sexual offences that come under the POCSO(Protection of Children from Sexual Offences) act.
When was the “Interest Equalization Scheme on Pre and post-shipping Rupee export credit” launched and what is the current total outlay of the scheme?
The scheme is monitored by which two entities?
The Cabinet extended the scheme till June 30, 2024 with an outlay of ______?
The interest subsidy provided under the scheme is?
- The scheme was launched in 2015 to provide interest subsidy to exports for both pre-shipment and post-shipment credit taken by the exporters for various activities. The current total outlay of the scheme is ₹9538 crore
- The scheme is jointly monitored by the RBI and Directorate General of Foreign Trade (DGFT)
- The cabinet has extended the scheme till June 30, 2024 with an outlay of ₹2500 crores
- Merchants and Manufacturers under 410 tariff lines- 2% rate of interest equalization
MSME exporters under all tariff lines- 3% rate of interest equalization
Answer the following based on the “Indian Forest and Wood Certification Scheme” launched by the Ministry of Environment, Forest & Climate Change in Dec to promote sustainable forest management and agroforestry in India-
What are the three types of third-party certification which will be provided to entities under the scheme?
The scheme will be implemented by which entity?
_______will act as a multistakeholder advisory body?
The Forest Management Certification will include ___criterio, ____indicators and _____verifiers to ensure responsible forest management?
What is the Chain of Custody (COS) Certification?
Ans-
* Forest Management Certification
Trees Outside Forest Management Certification
Chain of Custody Certification
- Indian Institute of Forest Management, Bhopal
- Indian Forest and Wood Certification Council
- It is based on the Indian Forest Management Standards which include 8 criteria, 69 indicators and 254 verifiers
- The Chain of Custody (COS) certification will be provided to ensure sustainability from the source of the wood to the final wood products provided to the customers.
When was the Samagra Shiksha Abhiyan launched and it subsumed which former schemes?
The Samagra Shiksha Abhiyan supports which SDG goal?
The “Samagra Shiksha Abhiyan” was extended for what period with a total outlay of ₹2,94,283.04 crore?
What is the funding pattern of the scheme?
Technical support is provided by which entity?
In-services training programmes conducted under the Samagra Shiksha Abhiyan are monitored by which entity?
What are the objectives of the scheme?
The Samagra Shiksha scheme was launched in 2018 by the Ministry of Education (MoE) to ensure inclusive and quality education from preschool to class 12th in accordance with the SDG-4 which is “Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all”. The scheme subsumed three erstwhile schemes which were Sarva Shiksha Abhiyan (SSA), Rashtriya Madhyam Shiksha Abhiyan(RMSA) and Teacher’s Education (TE).
It aims to improve the quality of education by focusing on two Ts which are Teacher and Technology.
Features
- The scheme was extended for a period of 5 years from 2021-22 to 2025-26 with a total outlay of ₹ 2,94,283.04 crore which includes a Central share of ₹.1,85,398.32 crore. The scheme is fully aligned with the National Education Policy 2020 (NEP 2020).
- The funding pattern of the scheme between the centre and state is 90:10 for northeastern states, 60:40 for all other states and 100% for UTs
- Technical support pertaining to access, quality and equity of education will be provided by Educational Consultants of India Limited (EdCIL) through the Technical Support Group (TSG)
- All the in-service training programmes will be conducted and monitored by the SCERT (State Council of Educational Research and Training)
Objectives of the scheme
* Implementing the recommendation of NEP 2020;
* Supporting States & UTs in implementing RTE Act, 2009;
* Focus on Early Childhood Care and Education;
* Emphasis on Foundational Literacy and Numeracy
* Bridging Social and Gender Gaps in School Education
* Ensuring Equity and Inclusion at all levels of school education
* Ensuring a safe, sound and conducive learning environment and minimum standards in school provisions
* Promoting vocational education
What is the name of India’s first food street launched by the Union Minister Mansukh Mandaviya in Jan and it was launched in which place?
What is the financial assistance provided under the “Food Street” initiative?
The “Food Street” initiative is implemented through which entities?
Ans-
* “Prasadam” was the first among 100 Food Streets launched in Maha Lok in Ujjain, Madhya Pradesh under the “Food Streets” initiative which aims to establish 100 Food Streets in 100 districts to encourage safe and healthy food practices among food businesses and reduce foodborne illness and improve overall health outcomes.
- A financial assistance of ₹1 crore per Food Street is provided under the National Health Mission (NHM) to states and UTs. The assistance will be provided between the Centre and State in the ratio of 60:40 or 90:10 with the condition that standard branding of these street foods will be done as per FSSAI guidelines.
- It is implemented through the National Health Mission (NHM) in convergence with the Ministry of Housing and Urban Affairs and with technical support from the FSSAI
PM Modi in Jan released the first instalment of ₹____ to 1 lakh beneficiaries of PMAY-Gramin under the PM JANMAN, where PVTGs will receive ₹____for building pucca houses along with other benefits such as electricity, gas connection, water & sanitation etc?
When was the PM Janman scheme launched and what is the budget allocated for the scheme?
PM JANMAN aims to imrpve socio-economic conditions of PVTGs through ___critical interventions across 9 ministries?
Ans
* First instalment of ₹540 crores to 1 lakh beneficiaries. PVTGs will receive ₹2.5 lakh for building pucca houses uder PMAY-G
- The budget allocated for the PM Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) is ₹24104 crore with central share of ₹15336 crores and State share of ₹8768 crores.
- 11 critical interventions across 9 ministries
- The PM JANMAN was launched on 15 Nov 2023 for the Socio-economic development of PVTGs by providing basic facilities to PVTGs’ households such as housing, clean drinking water & Sanitation, education, electricity, telecom connectivity and Sustainable livelihood opportunities. Benefits to PVTGs will be provided by convergence with several flagship schemes such as PMAY-G, Jal Jeevan mission, Ayushman Bharat, PM Kissan Samman Nidhi Scheme
The Cabinet in Jan approved the scheme for “Promotion of Coal Gasification Projects of Government PSUs and Private Sector” to provide incentives to government PSUs and Private sector entities for coal gasification. What is the total outlay of the scheme and what are three categories of outlay in the scheme?
The total outlay of the scheme is ₹8500 crores and it is divided into 3 categories
Category-1: ₹4050 crore of the total outlay will be provided to the government PSUs where up to 3 PSUs will be granted ₹1350 crore or 15% of the Capex, whichever is lower
Category-2: ₹3850 crores of the total outlay will be provided to both government PSUs and the Private sector where ₹1000 crore or 15% of the Capex, whichever is lower will be granted to each project
Category-3: ₹600 crore of the total outlay is earmarked for demonstration projects and small-scale product-based gasification plants where a lump-sum grant of ₹100 crore or 15% of the Capex will be given to entities who have a minimum Capex of ₹100 crore.
Rs 32.44 Crore was released for Pre-matric Scholarship and Rs 387.27 Crore released for Post-Matric Scholarship to States/UTs under PM YASASVI scheme. What is full form of the scheme and scholarship is provided to students belonging to which backward classes?
What is the eligibility of the PM YASASVI?
What are the scholarship benefits provided under the Pre and Post Metric scholarships?
What are the scholarship benefits provided to students studying in Top Class School (TCS)?
What are the scholarship benefits provided under the Top Class College Education category?
The PM YASASVI (Young Achievers Scholarship Award Scheme for Vibrant India) was launched by the Ministry of Social Justice & Empowerment (MoSJE) to promote education among the OBC (Others Backward Classes), EBC (Economically Backward Classes) and Denotified Nomadic Tribe (DNT) students. It aims to provide educational empowerment to the socio-economic backward students.
Eligibility
- Students should belong to either EBC, OBC or DNT categories and should not belong to the SC or ST or categories
- Beneficiary should be studying full-time in class 9th and 10th in government schools only
- Income from all sources should not exceed ₹2.5 lakh per annum
- Candidates are selected through the YASASVI Entrance Test (YET), conducted by the National Testing Agency (NTA).
Types of Scholarship
1- Pre Metric Scholarship: Consolidated Acedemic allowance of ₹4000 per annum will be provided to students of class 9th and 10th
2- Post Metric Scholarhsip: Academic allowance from ₹5000 to ₹20000 depending upon the availed courses will be provided to students after completing their matriculation.
3- Top Class School Education:
- Scholarship will be provided to meritorious students from class 9th to 12th in the Top Class Schools.
- Scholarship for tution fees, hostel fees and other charges will be provided up to ₹75000 p.a per student studying in class 9th and 10th and up to ₹125000 p.a per student studying in class 11th and 12th.
- Top Class Schools (TCS) are categorized as schoolds with 100% pass percentage of students in class 10th and 12th
4- Top Class College Education:
- Tution fees and non-refundable charges in private sector institutions up to ₹2 lakhs p.a per student and ₹3.72 lakhs p.a per student in private sector flying clubs such as commercial pilot training and Type rating courses
- Living expenses of ₹3000 per month per student
- Expenses for Books & stationary of ₹5000 per annum per student
- One time assistance up to ₹45000 per student for laptop or computer with accessories like UPS and printer
Hostel facilities will also be provided to OBC boys and girls
-
The government approved an outlay of ₹____crore for the Revamped Scheme for Administrative Reforms for DARPG (Department of Administrative Reforms and Public Grievances) to be implemented in the next two years in 2024-25 and 2025-26 of the 15th Finance Commission Cycle?
What are the two verticals of the scheme?
Ans-
* ₹235 crores
- 1- Comprehensive System for Redressal of Public Grievances: It aims to improve grievances redressal and save time for the public by developing an AI-based comprehensive system for redressal of public grievances. The reforms will be made in the CPGRAMS (Centralised Public Grievance Redress and Monitoring System) platform which is designed to address and monitor public grievances and complaints related to government services. It has an allocation of ₹128 crores
2- Administrative Reforms: It aims to develop administrative reforms by utilizing ₹107 crores in various schemes that support the development of administration
. According to a notification in Jan, the government of India allocated a total of 101.5 LMT of Wheat and 25 LMT of rice through the Open Market Sale Scheme (OMSS-Domestic). The government allocate surplus foodgrains through which entity under the OMSS?
Surplus foodgrains are allocated using e-auction on which platform?
Ans-
* The government allocate surplus foodgrains through the Food Corporation of India (FCI) to regulate the prices of foodgrains such as wheat and rice in the market
- Foodgrains are allocated through e-auction under the commodity exchange platform NCDEX (National Commodity and Derivatives Exchange Limited). The FCI conducts auctions weekly and foodgrains are sold to bulk consumers and Private traders
The Food Corporation of India (FCI) and State corporations procure foodgrains such as wheat and paddy to create a central pool of foodgrains. From this central pool, the government set aside a buffer stock, free foodgrains for the beneficiaries of the NFSA (National Food Security Act) and the surplus foodgrains are sold to bulk consumers and private traders through a weekly e-auction on the NCDEX platform.
Union Minister Amit Shah launched the Computerization scheme for the computerization of offices of Regional Cooperative Societies (RCS) and Agriculture and Rural Development Banks (ARDBs) in New Delhi in Jan. The outlay for computerization of RCS is ₹____ and for ARDBs is ₹____?
RCS- ₹120 crores, ARDBs- ₹95 crores. The computerization project of ARDBs targets 1851 units in 13 states and UTs. Its overall aim is to enhance the efficiency, transparency and effectiveness of cooperatives in India. The project aligns with the initiative of “Sahakaar Se Sanriddhi (Prosperity through Cooperatives).
The government approved the extension of the Animal Husbandry Infrastructure Development Fund (AHIDF) for another 3 years till 2025-26 with an outlay of ₹_____?
When was the fund set up and What is the objective of the scheme?
What is the interest subvention provided under the scheme and for up to what percent of the project cost?
Credit guarantee up to what ___% is provided from the credit guarantee fund of ₹______ to MSMEs and Dairy Cooperatives?
Ans-
* ₹29610
- The fund was set up in 2020 by the Ministry of Fisheries and Animal Husbandy. its objective is to enhance the processing capacity of the milk and meat sector in India by incentivising investments of entrepreneurs, private companies, FPOs and MSMEs. It incentivizes investments in areas such as
- Meat processing
- Milk processing,
- Animal feed plants,
- Breed farms
- Animal waste to wealth management
-Veterinary facilities. - The interest subvention of up to 3% from financial institutes is provided for 8 years with a moratorium period of 2 years for loans up to 90% of the project cost
- Credit guarantee of up to 25% is provided from the credit guarantee fund of ₹750 crores to MSMEs and Dairy Cooperatives
The Scheme is eligible for
- FPOs
- Private companies
- Individual entrepreneurs
- MSMEs
- Section 8 companies
The government approved the extension of the scheme of sugar subsidy given to Antyodaya Anna Yojana (AAY) families through the Public Distribution System (PDS) for two years till March 2026. What is the subsidy provided to AAY families under this scheme?
₹18.5 per kg per month of sugar is provided to AYY families of the participating states
When was the Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC) launched by the MoSJE?
What was the corpus amount of the scheme?
What is the minimum collateral free loan amount provided to SC entrepreneurs?
The scheme is implemented by which entity?
Credit guarantee of up to ₹____is provided to member lending institutions (MLI)?
What is the eligibility of the scheme?
What is the Credit Guarantee criteria under the scheme?
The Credit Enhancement Guarantee Scheme for Scheduled Castes (CEGSSC) was launched on 6 May 2015 by the Ministry of Social Justice & Empowerment (MoSJE) with a corpus of ₹200 crores to promote entrepreneurship among the Scheduled Caste (SC) population in India.
Under the scheme, collateral-free loans are provided to SC entrepreneurs from a minimum of ₹15 lakh to more than ₹5 crores, with a credit guarantee of up to ₹5 crore is provided to Member Lending Institutions (MLIs) under the CEGSSC for giving loans to SC entrepreneurs. The scheme is implemented by the IFCI Ltd
Eligibility
- SC entrepreneurs with small and medium enterprises in the manufacturing and services sector are eligible
- Should not be covered under any other state or central government subsidy scheme
- SC entrepreneurs should have a minimum 75% shareholding in companies and management control for the past 6 months
- Sole proprietorship firms and individual firms are not eligible under the scheme
Credit Guarantee Cover to MLIs:
- For Loans from ₹15 lakh to ₹1 crore, 100% guarantee cover
- For loans from ₹1 crore to ₹2 crore, 80% guarantee cover
- For loans from ₹2 crore to ₹5 crore, 70% guarantee cover
- For loans above ₹5 crore, a 60% guarantee cover up to ₹5 crore will be provided
The maximum period for a credit guarantee is 7 years. The interest rate charged by the Member Lending Institutions (MLI) should not be more than 3% over and above the base rate of the MLIs.
Fees payable for guarantee cover:
- An annual renewal fees ranging from 0.2% p.a to 0.75% p.a is payable by banks depending on the loan amount and time of renewal
-Annual renewal fees ranging from 0.10%p.a to 0.50%p.a is applicable to SC Women and SC divyang entrepreneurs depending upon the loan amount and time of renewal
The Ministry of New & Renewable Energy (MNRE) in Feb released guidelines for the pilot projects to introduce Green Hydrogen in which two sectors and with what budget outlay under the National Green Hydrogen Mission?
The “National Green Hydrogen Mission” was launched for a period of FY2023-24 to FY2029-30. What is the outlay of the mission?
What are the objectives and outlay of the SIGHT programme?
What type of incentives will be provided under SIGHT programme for the domestic production of green hydrogen, and what will be the maximum bidding capacity?
What are the objectives of the SHIP programme?
What are the Objectives of the National Green Hydrogen Mission?
What are the Expected outcomes of the mission by 2030?
Ans-
** The guidelines were issued for implementation projects to introduce Green Hydrogen in the Steel sector and Shipping sector. Following is the outlay for the same:
Steel Sector- ₹455 crore until FY2029-30
Shipping Sector- ₹115 crore until FY2025-26
** ₹19744 crores including ₹17490 crore for the SIGHT programme, ₹400 crore for R&D and ₹388 crore for other mission components
** The SIGHT programme (Strategic Intervention for Green Hydrogen Transition) objectives are:
- To maximize production of Green Hydrogen and its derivatives in India.
- Enhance cost-competitiveness of Green Hydrogen and its derivatives vis-a-vis fossil-based alternatives.
- Encourage large scale utilization of Green Hydrogen and its derivatives.
The SIGHT programme will be implemented by the Solar Energy Corporation of India (SECI). It is eligible to get
0.5% of the incentive amount disbursed as administrative charges on annual
basis. Tenure of the SIGHT programme is from FY2025-26 to FY2029-30
The outlay of the SIGHT programme is ₹17490 crore which includes:
Component-1: ₹4,440 Crores for domestic manufacturing of electrolysers.
Component-2: ₹13,050 Crores as an incentive scheme for green hydrogen production.
** 1st year - ₹50/kg incentive for production of green hydrogen
2nd year- ₹40/kg incentive for production of green hydrogen
3rd year- ₹30/kg incentive for production of green hydrogen
- Total Capacity available for bidding under the Tranche I of Mode I is
4,50,000 MT per annum of Green Hydrogen which includes 4,10,000 MT/annum for Technology Agnostic Pathways and 40,000 MT/annum of
Green hydrogen for biomass-based pathways
** SHIP programme (Strategic Hydrogen Innovation Partnership)- This programme will be involved in creating a PPP-based partnership for Research & Development (R&D) of Green Hydrogen. Its objectives are:
- It aims to enhance cost-effectiveness of green hydrogen production, storage and transporation. SHIP aims to reduce the cost of green hydrogen production to around $2 per kilogram (kg) by 2030.
- Improve safety, efficiency and realiability of green hydrogen technologies
- Coordinating skill-building programs in the field of green hydrogen. SHIP will support 100 pilot projects across various sectors, including steel, mobility, and shipping.
- Decarbonize the energy sector, Create export opportunities for Green Hydrogen and its derivatives and Develop manufacturing capabilities for Green Hydrogen in India.
- The expected outcomes by 2030 are:
a) Having a capacity of at least 5mmt (Million Metric Tonne) per annum of Green Hydrogen with an additional 125GW of Renewable Energy capacity.
b) Fossil fuels imports worth more than ₹1 Lakh crore are expected to reduce and Annual GHG emission is expected to reduce by nearly 50 MMT
c) The expected investment amount will be more than ₹8 Lakh crore and over 6 lakh jobs will be created by 2030.
The outlay of the FAME India scheme was increased to ₹_______?
The government reduced the e-2Ws (Electric Two Wheelers) subsidy from ___% to ___% of the ex-factory price under the phase-2 of the FAME India scheme?
Ans-
* From ₹10000 crore to ₹11500 crore
- From 40% to 15% of the ex-factory price
The FAME (Faster Adoption and Manufacturing of Hybrid & Electric Vehicle in India) was launched in 2015.
The PM-MKSSY (PM-Matsya Kisan Samridhi Sah-Yojana) was launched under the PMMSY in Feb for the formalization of the fisheries sector and supporting micro and small enterprises in the fisheries sector. What is the outlay of the scheme and the period of implementation?
What are the 4 components of the scheme?
Ans-
* The outlay of the scheme is ₹6000 crore including ₹3000 crore from external financing such as World Bank and ₹3000 crore is expected as an investment from beneficiaries or private sector.
Implementation Period: is 4 years from FY2023-24 to FY2026-27
- Component 1-A: The Fisheries sector will be formalised by connecting fisheries microenterprises with the government of India programs and facilitating them with working capital financing. For this, a National Fisheries Digital Platform (NFDP) will be created, where all the stakeholders will registered and mobilized.
Component 1-B: Facilitating the adoption of aquaculture insurance-
Under this component, a “one-time incentive” will be provided for the purchase of one crop cycle. It aims to cover at least 1 lakh hectares of aquaculture farms.
Benefits:
- A “one-time incentive” at the rate of 40% of the insurance premium will be provided. It will be subject to a limit of ₹25000 per hectare of water spread area of the aquaculture farm up to ₹1 lakh. The maximum farm size available to incentive is 4 hectares of water spread area.
- For more intensive forms of aquaculture such as cage farms, Re-circulatory Aquaculture Systems (RAS), bio-floc, raceways etc the maximum unit size will be 1800 m^3, whereas the incentive will be the same as aforementioned.
- SC, ST and Women beneficiaries will be provided with an additional 10% of the incentive.
Component 2: Support to microenterprises to improve value chain efficiencies of the fishery sector.
- A performance grant will be provided to microenterprises for up to 25% of their total investment or ₹35 lahks for the general category and up to 35% of the total investment or ₹45 lakh, whichever is lower for the SC, ST and Women-owned enterprises for improving the overall efficiency of the fishery sector.
- A performance grant of up to 35% of the total investment or ₹200 lakh, whichever is lower will be provided to Village level organizations, SHGs, FFPOs and cooperatives
Component 3: Adoption and Expansion of safety and quality assurance system for fish and fish products
- Microenterprises: performance grants for up to 25% of their total investment or ₹35 lakh, whichever is lower for the general category and up to 35% of total investment or ₹45 lakh, whichever is lower for the SC, ST and Women-owned enterprises.
- Small enterprises: performance grants for up to 35% of their total investment or ₹75 lakh, whichever is lower for the general category and up to 35% of total investment or ₹100 lakh, whichever is lower for the SC, ST and Women-owned enterprises.
- A performance grant of up to 35% of the total investment or ₹200 lakh, whichever is lower will be provided to Village level organizations, SHGs, FFPOs and cooperatives
Performance grant disbursement criteria for Components 2 and 3:
- For each job created and maintained for a woman an amount of Rs.15,000 per year will be paid, similarly, for each job created and maintained for a man an amount of Rs.10,000 per year will be paid, subject to the limit of 50% of total eligible grant
Component 4: A Project Management Unit (PMU) will be set up to manage, implement, monitor and evaluate project activities.
The Ministry of Tourism has revamped the Swadesh Darshan Scheme as Swadesh Darshan 2.0 (SD 2.0) with the objective of developing sustainable and responsible tourism destinations. The government has notified ___destinations under the SD 2.0 and when was the scheme launched?
The Swadesh Darshan scheme was launched in 2014-15 and the government has notified 57 destinations under SD 2.0
The government approved a proposal to provide health benefits to ESI workers who went out of the scheme due to wage ceiling. What are the criteria for getting the health benefits?
A new policy of the “Ayush 2023” was adopted to be implemented in ESIC institutions. What new things will be established in the ESIC institutions?
Ans-
* People who were in insurable employment for at least 5 years after April 1, 2012 and superannuated/voluntarily retired on or after April 1, 2017, with wages up to ₹30000 per month will be benefited.
* Panchakarma, Kshara Sutra and AYUSH units
As of 31 Dec 2023, _____incubators were selected with a total approved funding of ₹____ under the Startup India Seed Fund scheme?
When was the scheme launched?
What are the eligibility criteria for startups?
Ans-
* 198 incubators were selected with a total funding of ₹802.98 crore as of 31 Dec 2023
- The scheme was launched in 2021 under the “Startup India Initiative” to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. The financial assistance is provided by incubators selected under the scheme.
- The eligibility criteria for startups are
- It should be recognized by DPIIT and incorporated not more than 2 years ago at the time of the application.
- Startup should not have received more than ₹10 lakh of monetary support under any other central or state government scheme.
- Indian promoters should have a minimum 51% shareholding in the startup
The Ministry of New & Renewable Energy (MNRE) is implementing the Rooftop Solar Programme (RTS) phase 2, wherein Central Financial Assistance (CFA) is provided for the installation of rooftop solar capacity in the residential sector only. The programme aims to install _____Mw of RTS capacity in the residential sector by ______?
4000 Mw of RTS capacity by March 2026
A special scheme for informal microenterprises by the CGTMSE was launched to support micro-enterprises and prompt lending institutions to lend to Informal microenterprises. Loans up to ₹____will be extended to informal microenterprises?
up to ₹20 lakh
The “AAPDA Mitra” a disaster management scheme of the Ministry of Home Affairs (MHA) is implemented in how many districts and what is the outlay of the scheme?
It is implemented in 350 disaster-prone districts with an outlay of ₹369 crores. It aims to train 1 lakh youth volunteers in disaster management.
The government extended the Flood Management and Border Areas Programme (FMBAP) till ________ with _____outlay under the Department of Water Resources, River Development and Ganga Rejuvenation?
what are the two components of the scheme?
Ans-
* It was extended for 5 years from FY2021-22 to FY2025-26 with an outlay of ₹4100 crores
- The two components of the scheme are
a) Flood Management Program (FMP)- The outlay of this is ₹2940 crore and it aims to provide funding for flood control, anti-erosion, drainage development etc. The funding pattern for general states is 60:40 whereas, for special states is 90:10 respectively
b) River Management and Border Area (RMBA)- The outlay of this is ₹1160 crores and it aims to develop flood control, anti-erosion and pre-construction activities at the border area rivers. 100% financial assistance will be provided by the central government under this component.
The “Rashtriya Udyamita Vikas Pariyojana” was launched for the beneficiaries of which scheme and why?
It will be implemented by which entities?
It will be launched in how many cities?
It aims to ensure ___% participation by women?
Ans-
* It was launched for the beneficiaries of the PM SVANIDHI scheme to provide a 22-week entrepreneurship training to street vendors. The government has partnered with Flipkart to impart training to street vendors
- It will be implemented by 20 centres of the National Institute of Entrepreneurship and Small Business Development (NIESBUD), Noida and 10 centres of the Indian Institute of Entrepreneurship (IIE), Guwahati
- It will be launched in 10 cities namely Bhopal, Kanpur, Indore, Varanasi, Bharatpur, Shillong, Silchar, Dibrugarh, Guwahati and Sambalpur
- 40%
The Centre approved the continuation of the Umbrella Scheme on “Safety of Women” till what period and what outlay?
The scheme belongs to which ministry?
Ans-
* Till FY2021-22 to FY2025-26 with an outlay of ₹1180 crore
- Ministry of Home Affairs (MHA). Out of a total ₹1180 crore, ₹885 crore will be funded by the MHA and ₹294 crore will be funded from the Nirbhaya fund
The Ministry of Agriculture & Farmers Welfare released the 16th installment of the PM-KISAN (PM-Kisaan Samman Nidhi Scheme) of about ₹______ in Feb?
₹21000 crore. With this release, an amount of more than ₹3 lakh crore has been transferred to more than 11 crore farmers’ families.
2nd and 3rd installments of about ₹____was released under the “Namo Shetkari MahaSanman Nidhi” scheme which provides which provides additional amount of ₹6000 per year to the beneficiaries of the PM KISAN scheme in Maharashtra?
about ₹3800 crore
** PM Modi announced the solar rooftop scheme “PM Surya Ghar Muft Bijli Yojana” with what outlay and what are its objectives?
What is the Central Financial Assistance (CFA) provided for Residential RTS systems?
Collateral-free low interest loan of around ___% of the cost of residential RTS system is provided up to 3kw?
** Answer the following based on the guidelines released for the implementation of incentives to Discoms under the “PM-Surya Ghar: Muft Bijli Yojana”-
a) The total Financial Outlay for Incentives to DISCOMS is ₹______ under the PM-Surya Ghar Muft Bijli Yojana?
b) The Incentives to the DISCOMs would be available only for the addition of initial _____MW RTS capacity in the country after 31st March 2019?
c) What incentives will be provided under the scheme according to the installed capacity achieved, and what is the “Applicable Cost” under the scheme?
d) The percentage of incentives received by DISCOMs should be allocated for “Discoms Officials & Functionaries” and “Utilization at the Division and Subdivisional level” respectively?
It was announced on 13 Feb 2024 with an outlay of ₹75000 crore and it aims to light up 1 crore houses by providing 300 units of free electricity per month. The scheme will Save up to 15000 to 18000 rupees annually for households from free solar electricity and selling the surplus to the distribution companies.
Central Financial Assistance (CFA) for Residential RTS Systems
- A CFA of 60% of the cost of residential RTS system for 2Kw and a CFA of 40% of the cost of residential RTS system for 2 to 3 kw is provided as a subsidy for installation cost. At current benchmark prices, this will mean:
- Rs 30,000 subsidy for 1 kW system
- Rs 60,000 for 2 kW systems
- Rs 78,000 for 3 kW systems or higher
- CFA is capped at 3kw up to ₹78000
- Collateral-free low interest loan of around 7% of the cost of residential RTS system is provided up to 3kw
** a) ₹4950 crore
b) 18000 Mw of RTS capacity
c) - For installed capacity above 10% & up to 15%, over and above the installed base capacity: 5% of the applicable cost for capacity achieved above 10% of the installed base capacity
- For installed capacity above 15% over and above the installed base capacity: 5% of the applicable cost for capacity achieved above 10% and up to 15% of the installed base capacity + 10% of the applicable cost for capacity achieved beyond 15% of the installed base capacity
Applicable Cost: It is the benchmark cost for RTS Capacity of 1 Kw, which is ₹50000 for General States and ₹55000 for special category states
d)- The DISCOMs shall allocate 10% of the incentives received (up to Rs. 1 crore) for a rewards system for DISCOM officials and functionaries.
- The DISCOM shall allocate at least 50 % of the incentives (up to Rs 1 crore of allocation per division) for dedicated utilization at the division and subdivisional level.
Other Features of the Scheme:
- A Model Solar Village will be developed in each district of the country
to act as a role model for adoption of rooftop solar in rural areas.
-Urban Local Bodies and Panchayati Raj Institutions shall also benefit
from incentives for promoting RTS installations in their areas.
-The scheme provides a component for payment security for renewable
energy service company (RESCO) based models as well as a fund for
innovative projects in RTS.
Outcome and Impact
- It will save household electricity bills and will also increase their additional
income.
-It will also result in addition of 30 GW of solar capacity through rooftop
solar in the residential sector.
-It will result in reduction of 720 million tonnes of CO2 equivalent emissions
over the 25-year lifetime of rooftop systems.
-It is estimated that this scheme will also create around 17 lakh direct jobs in manufacturing, logistics, supply chain, etc
The TRIFED signed an MoU with which company to empower tribal farmers and suppliers particularly engaging in turmeric cultivation under the “PM Janjatiya Vikas Mission” scheme?
ITC
Which fund was realigned and subsumed under the Animal Husbandry Infrastructure Development Fund (AHIDF) scheme in Feb?
The Dairy Infrastructure Development Fund was subsumed under the AHIDF scheme, thus now enabling dairy cooperatives under the interest subvention of 3% and Credit guarantee of up to 25% of the project cost under the AHIDF fund scheme.
Which country became the first to adopt the “Jan Aushadi Scheme”?
Mauritius
According to new amendments, the shareholding limits under the Credit Enhancement Guarantee Scheme for Scheduled Castes (SCs), were increased from ___% to ___%?
From 51% to 75%
The National Project for Screening and Health Management of Tribal Students through Ayurvedic Interventions was launched to cater to?
It will cater to the students of classes 6th to 12th in the age category of 10-18 years identified in the 55 EMRS students. The project will involve screening students for health issues such as anaemia, Hemoglobinopathies, malnutrition, tuberculosis etc.
When was the Senior-care Ageing Growth Engine (SAGE) portal and initiative launched and why?
What is the financial assistance provided under the SAGE initiative?
The initiative is implemented by which entity?
Ans-
* The SAGE portal and initiative was launched in 2021 under the “Atal Vayo Abhuyday Yojana” to identify and support startups engaged in providing innovative solutions, products and services for the welfare of the elderly.
- An equity support of up to ₹1 crore per project, for up to 49% government equity in startups.
- IFCI Venture Capital Funds Ltd
Answer the following based on the data of the PMFBY scheme released in March 2024-
a) In the past 8 years, _______ farmer applications have been enrolled and over _____farmer applicants received claims?
b) In the past 8 years, the farmers’ share of the premium was near ₹_______ and they received the claimed amount of over ₹________for this?
c) The number of farmers’ applications has grown ___% year-on-year during 2022-23?
d) During 2023-24 there is an increase of __% in terms of farmers enrolled under the scheme, also ___% of the total farmers enrolled under the scheme in FY2023-24 are non-loanee farmers?
Ans-
* A) 56.80 crore farmers’ applications have been enrolled and over 23.22 crore farmer applicants received claims.
- B) Nearly ₹31139 crores and they received over ₹155977 crores for this claim.
- C) 41%
- D) 27%, 42%
The government launched 11 PACS (Primary Agriculture Credit Societies) in 11 states under the “World’s Largest Foodgrain Storage Plan” scheme. What is the objective and outlay of the scheme?
The project will be implemented by?
Ans-
* The scheme aims to create a storage capacity for storing 100% of India’s foodgrain production. It aims to achieve this by integrating PACS godowns with the foodgrain supply chain and converging various schemes such as the Agriculture Infrastructure Fund (AIF), Agricultural Marketing Infrastructure Scheme (AMIS), Sub Mission on Agricultural Mechanization (SMAM) etc. Thus, enabling farmers to avail various subsidies and interest subvention for their foodgrain stored at the PACS godowns.
- It will be implemented by the NCDC (National Cooperative Development Cooperation) with the support of NABARD, FCI, CWC (Central Warehousing Corporation) etc.
Apart from this, Modi also laid the foundation stone for 500 PACS for the construction of godowns and agri-infrastructure and inaugurated a project for the computerization of 18000 PACS across the country.
The Union Minister RK Singh chaired a meeting to finalize the deployment of VGF for the Battery Energy Storage System (BESS) capacity. What are the targets of the scheme?
What is the outlay of the scheme and what is the financial support provided?
Ans-
* The scheme was announced in 2023 and it aims to install 4000 MWh of Battery Energy Storage System (BESS) capacity by 2030-31 and targets achieving a Levelized Cost of Storage (LcoS) of ₹5.5-₹6.6 per kWh.
- The outlay of the scheme is ₹9400 crore and financial support for up to 40% of the Capital Cost will be provided as the VGF.
The PM laid the foundation stone for the redevelopment of the _____railway stations at a cost of ₹______under the Amrit Bharat Station scheme?
553 railway stations at a cost of ₹19000 crore
How many locations and under which categories were selected for the Challenge Based Destination Development (CBDD) scheme?
42 locations were identified under 4 categories namely Culture & Heritage destination, Spiritual destination, Ecotourism and Amrit Dharohar destination and Vibrant Village destination.
Answer the following based on the “Uttar Purva Transformative Industrialization Scheme (UNNATI-2024)” approved by the union cabinet-
a) Why was the scheme launched and what is the outlay
b) What is the tenure of the scheme?
c) The scheme will be implemented by which entity?
d) Districts will be categorized based on which two zones?
e) All eligible industrial units have to commence their operation within ____years from the grant of registration?
f) The maximum eligible benefit to one industrial unit from all components of the scheme is ₹_____?
g) What are the incentives provided under the scheme for investors for setting up new units or expansion of the existing industrial units?
Ans-
* A) It is a Central Sector scheme launched for the development of industries and employment generation in the Northeastern region of India and to create productive economic activity in the manufacturing and service sectors of the northeast. The outlay of the scheme is ₹10037 crore which is divided into two parts which are:
Part A- It will provide incentives to the industrial units. The total outlay for this part is ₹9737 crores
Part B- It is related to the implementation and institutionalization arrangements of the scheme. The outlay for this is ₹300 crore
60% of the outlay of Part A is earmarked for 8 northeastern states and 40% of the outlay is for the First-in-first-out basis.
- B) Tenure of the scheme is 10 years till 31 March 2034
- C) It will be implemented by the DPIIT, Ministry of Commerce & Industry in partnership with state governments
- D) Zone A (Industrial advanced districts) and Zone B (Industrial Backward Districts)
- E) 4 years
- F) ₹250 crore
- G) Investment-based incentives:
Where GST is applicable-
Zone A- 30% of the value of investment in Plant & Machinery/Construction of building & durable physical assets up to ₹5 crore
Zone B- 50% of the value of investment in P&M/Construction of building & durable physical assets up to ₹7.5 crore
Where GST is not applicable-
Zone A- 30% of the value of investment in Plant & Machinery/Construction of building & durable physical assets up to ₹10 crore
Zone B- 50% of the value of investment in P&M/Construction of building & durable physical assets up to ₹10 crore
Interest Subvention:
Zone A- 3% interest subvention for 7 years
Zone B- 5% interest subvention for 7 years
Manufacturing & Services Linked Incentive for New units only (Where GST is applicable):
Zone A- 75% of the value of investment in P&M
Zone B- 100% of the value of investment in P&M
The cabinet approved the “IndiaAI Mission” for what outlay and what are its objectives?
What are the components of the “IndiaAI Mission”?
Under the “IndiaAI Compute Capacity” component, ______Graphic Processing Units (GPUs) will be deployed?
Ans-
* The “IndiaAI Mission” was approved with an outlay of ₹10300 crore for 5 years to nurture India’s overall AI Innovation Ecosystem through Public-Private Partnerships. The key objectives of the mission are
- Bolster India’s global leadership in AI
- Foster technological self-reliance
- Democratize AI benefits across all societal strata
- Ensure ethical and responsible AI deployment
- 7 Components of the India AI Mission are:
- IndiaAI Compute Capacity (10000 GPU)
- IndiaAI Innovation Centre (IAIC)
- IndiaAI Datasets Platform
- IndiaAI Future Skills
- IndiaAI Application Development Initiative
- IndiaAI Startup Financing
- Safety & Trusted AI
Under the “IndiaAI Compute Capacity” component, 10,000 Graphic Processing Units (GPUs) will be deployed
The cabinet approved the continuation of the targeted subsidy under the PMUY (Pradhan Mantri Ujjwala Yojana) for FY2024-25. What is the subsidy provided under the scheme?
What is the budget allocation for the PMUY for FY2024-25?
As of Jan 1 2024, there are over ______PMUY beneficiaries?
The average LPG consumption of the PMUY consumers increased by ___% from 3.01 refills to 3.87 refills?
Ans-
* A subsidy of ₹300 per 12.5 kg cylinder for up to 12 refills per year is provided under the scheme
- ₹12000 crore
- 10.25 crore
- 29%
The financial assistance under the “Tea Development and Promotion Scheme” was increased by ___% from ₹_____to ₹______ for FY2024-25 and FY2025-26?
Under the scheme, ______FPO and _____SHGs will be set up in the next 2 years with increased assistance of ₹105.5 crores?
Which three sub-components were added under the scheme?
Ans-
* It was increased by 82% from ₹290 crore to ₹528 crore for FY2024-25 and FY2025-26
- 330 FPOs and 800 SHGs will be set up
- “Sub Component for research on blends and value-added products in international markets” for enhancing research and diversifying exports
- “Sub Component for Quality Assurance” with an outlay of ₹39.9 crore out of which ₹20 crore will be used to set up and upgradation of tea testing labs.
- “Sub Component of Technological Intervention for Tea Plantation” for carrying out activities such as precision farming, drone-surveys, traceability, blockchain etc.
Indian banks were allowed to act as Trading members (TM)/Trading and Clearing Members (TCM) and were authorized to act as a Special Category Client (SCC) of the IIBX to import gold and silver. Which type of banks were not allowed as per this circular?
What are the measures taken for risk management of such transactions?
Where is the location of the India International Bullion Exchange (IIBX)?
Ans-
* Regional Rural Banks
- A- All Client trades placed on the IIBX will be against a 110% advance buy order of the expected value of the bullion intended to be purchased
B- A global sub-limit will be determined with reference to the Net open Overnight Position Limit (NOOPL) in Gold/Silver for banks for up to 1 tonne of gold equivalent. - The IIBX is located at GIFT, IFSC in Gujarat. It is India’s first bullion exchange and 3rd of its kind in the world.
The ceiling of remuneration given to Non-Executive Directors (NEDs) of private banks was increased from ₹____ to ₹______?
₹20 lakh to ₹30 lakh per annum
Answer the following based on the Rupay Card and UPI connectivity launched with Mauritius-
With this connectivity, an Indian traveller to Mauritius will be able to pay a merchant in Mauritius using UPI. Similarly, a Mauritian traveller will be able to do the same in India using the ________ app of Mauritius?
Which scheme of Mauritius will allow banks in Mauritius to issue Rupay cards?
Apart from this, UPI connectivity was also launched with which nation to enable UPI payments at merchant locations in both countries?
Ans-
* Instant Payment System (IPS) app of Mauritius
- MauCAS card scheme. With this, Mauritius has become the first non-Asian country to issue cards using the Rupay network.
- Sri Lanka
Terms of Reference signed between the Reserve Bank of India and Nepal’s _______Bank on the Integration of the Unified Payments Interface (UPI) of India with the National Payments Interface (NPI) of Nepal for cross-border remittances?
Rastra Bank of Nepal
The government extended the “Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit” till June 30 2024. What is the interest equalization provided under the scheme?
According to some modifications, which banks will be restricted from participating in the scheme?
The annual net subvention amount has been capped at ₹____per Importer-Exporter Code (IEC) in a financial year?
Ans-
* 2% for the Manufacturers and Merchant exporters under 410 HS line
3% for MSMEs under any HS line. HS line here stands for Harmonized System Code which is assigned to each product traded internationally, the HS Code categorizes products based on their characteristics and composition.
- With effect from FY2023-24, the banks which have priced their interests charged on loans greater than “4% + Repo Rate” prior to subvention would be restricted from participating under the scheme till they furnish an undertaking to the DGFT.
- ₹10 crore per Financial Year
In Feb, _______was included as the Financial Information Provider under the Account Aggregator (AA) framework for aggregating financial information on government securities under the Retail Direct scheme of the RBI?
Clearing Corporation of India (CCI)
The RBI Retail Direct Scheme (‘Scheme’) was launched on November 12, 2021 to facilitate retail investors to invest in Government Securities. The Scheme enables individuals to open Retail Direct Gilt Accounts with the Bank and access the Government Securities market - both primary and secondary.
Account Aggregator is a Non-Banking Finance Company (NBFC) engaged in the business of providing the service of retrieving financial information from one financial institution to another based on an individual’s direction and consent. No financial information of the individual is retrieved, shared or transferred by AA without his / her explicit consent.
Entities may enrol themselves on AA framework as Financial Information Provider (FIP) viz. banking company, non-banking financial company, asset management company, depository, depository participant, insurance company, insurance repository, pension fund etc. and as Financial Information User (FIU) which is an entity registered with and regulated by any financial sector regulator.
What is the full form of the ADITI scheme launched at the “DeF Connect 2024” event in New Delhi?
What is the tenure and outlay of the scheme?
The iDex was expanded to iDEX Prime with financial assistance for startup projects ₹___?
Ans-
* Acing Development of Innovative Technologies with IDEX (ADITI). Under this scheme, startups are eligible to avail of grants-in-aid up to ₹25 crores for research, development and innovation in the defence technology sector. It aims to develop 30 deep tech technologies and create a Technology Watch tool to bridge the gap between the expectations and requirements of the armed forces
- It has an outlay of ₹750 crore for a 2023-24 to 2025-26 period.
- From ₹1.5 crore to up to ₹10 crore
The RBI in Feb authorized banks and Non-banks Prepaid Payment Issuers (PPI) to issue PPIs for paying fares for ________?
What are the net worth requirements for the NBFCs to issue PPIs?
Cash loading to PPIs shall be limited to ₹_______ per month subject to the overall limit of the PPI?
In co-lending arrangements between banks and Non-banks, the role of issuing PPIs will be mandated by?
What are the PPI transaction limits for Cross-Border inward and Outward remittances respectively?
Ans-
* For paying fares for the Public Transport System
- There should be a positive net worth of a minimum ₹5 crore as per the latest balance sheet at the time of submitting the application and a minimum positive net worth of ₹15 crore after receiving authorization.
- ₹50000 per month subject to the overall limit of the PPI
- PPIs will be issued by banks in such cases while Non-banks will work in the marketing, distribution and provision of services to the PPI holder.
- Cross-Border Outward Remittances:
- The cross-border outward transaction limit is up to ₹10000 per transaction and up to ₹50000 per month.
- Full KYC PPIs issued by banks having AD-1 (Authorized Dealers Category 1) licenses are allowed in cross-border transactions.
- Cross-border PPIs cannot be used for making payments under the Liberalised Remittance Scheme (LRS).
Cross-Border Outward Remittances:
- Under cross-border inward remittances, amounts up to ₹50000 can be credited into the full KYC PPIs under the MTSS (Money Transfer Service Scheme) of the RBI. If the amount exceeds ₹50000, the entire amount will be credited to the bank account.
- Bank and non-bank PPI issuers, appointed as Indian agents of authorised overseas principals, shall be permitted to issue full-KYC PPIs.
Explain Section 27 (2), section 35A and section 56 under the Banking Regulations Act, 1949 of the RBI?
- Section 27(2): The RBI can instruct a banking company to provide statements and information about its business or affairs within a specified timeframe.
- Section 35A: The Reserve Bank can issue directions to banking companies if it deems necessary for public interest, banking policy, or to safeguard depositors' interests, prevent misconduct, or ensure proper management.
Section 56: Act applicable to Cooperative Banks
The ARCs have to take prior approval from the RBI from at least ____days prior to the proposed appointment date for appointing Director, MD and CEO in the ARCs?
Ans-
* 90 days prior
- Section 12 A of the SARFAESI Act, 2002
The PM-SURAJ national portal and scheme was launched in March, what is the full form of the PM-SURAJ scheme why was it launched?
Financial assistance amounting to ₹_____has been directly transferred to the bank accounts of 1 lakh beneficiaries present in more than 500 districts?
Ans-
* The PM-Samajik Utthan Evan Rojgar Adharit Jankalyan (PM-SURAJ) scheme was launched to provide credit support to 1 lakh entrepreneurs hailing from marginalised communities through Direct Benefit Transfer (DBT). The credit support is provided through banks, MFIs, NBFCs and other organizations.
- ₹720 crore
_______and Pharmaceuticals & Medical Devices Bureau of India (PMBI) signed MoU to launch the Credit Assistance Program for Jan Aushadi Kendras?
It covers how many Jan Aushadi Kendras?
Credit up to ₹____will be provided as a Working Capital Loan?
What credit support will be provided for setting up Jan Aushadi Kendras?
PM dedicated _____Jan Aushadi Kendras for setting up in Railway Stations?
Ans-
* SIDBI
- It covers 11000 existing Jan Aushadi Kendras and proposes to cover an additional 15000 Jan Aushadi Kendras.
- ₹2 lakh
- SIDBI will fund 80% of the project cost up to ₹4 lacks for setting up Jan Aushadi Kendras, which will facilitate expenses on Furniture & Fixtures, Computer, AC, Refrigerator etc.
SIDBI will use the “GST Sahay” technology platform to provide credit support under this program. - 50
The Ministry of Rural Development signed an MoU with which entity to launch the project “BhuPrahari” and why?
The MoRD signed the MoU with IIT Delhi to launch the project “BhuPRAHARI,” an ambitious initiative aimed at leveraging ground and space-based geospatial technologies along with Artificial Intelligence to monitor and manage assets under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
The “Vocal for Local “ initiative was launched by which entity and why?
What is “Akanksha” under this initiative?
It was launched by NITI Ayog to foster Grassroots Entrepreneurship and Self-reliance among the populace of Aspirational Blocks, propelling them towards sustainable growth and prosperity. As a part of this initiative, indigenous local products from 500 Aspirational Blocks have been mapped and consolidated under Aakanksha, which is a dedicated window for the Aspirational Blocks Programme under the brand name on the GeM portal.
The Electric Mobility Promotion Scheme (EMPS) 2024 was launched to provide further impetus to the green mobility and development of electric vehicle (EV) manufacturing eco-system in the country. What is the outlay and tenure of the scheme?
It targets to cover how many e-vehicles?
** The outlay of the scheme is ₹500 crore which includes:
- Subsidies/Demand Incentive for electric 2W (e-2W) and electric 3W
including registered e-rikshaws & e-carts and L5 (e-3W): Rs.493.55 crore - Administration of Scheme including Information, Education &
Communication) activities and fee for Project Management Agency:
Rs.6.45 crore.
Tenure: April 1 2024 to 31 July 2024
** 3,72,215 EVs
a) The first Oil Palm processing mill commenced operations in which place under the National Mission on Edible Oil?
b) What is the aim of the National Mission on Edible Oil, and it is currently operational in how many states?
c) What is the outlay of the National Mission on Edible Oil and what is the outlay allocated for the northeast region?
d) What are the financial incentives provided under the National Mission on Edible Oil?
e) What are the financial incentives provided for the northeast states under this mission?
Ans-
* A) Arunachal Pradesh
- B) The mission aims to escalate oil palm cultivation and elevate Crude Palm Oil production to 11.20 lakh tonnes by 2025-26. It is currently operational in 15 states nationwide, covering a potential area of 21.75 lakh hectares.
- C) The total outlay is ₹11040 crore and ₹5870 crore for North East Region
- D) - For purchase of planting material and management: ₹70000 per hectare
- For purchase of harvesting tools: ₹290000
- For establishing custom hiring Centers (CHC): ₹25 lakhs
- E) - A special assistance of Rs 100000 per hectare for the purchase of planting material and management
- The Government of India will pay a differential payment of 2% on the Crude Palm Oil (CPO) price to farmers. The Differential Payment is financial support provided to bridge the gap between the market price of a commodity (in this case, CPO) and a predetermined benchmark or support price.
- Special assistance of Rs 5 crore is allocated for oil palm processing mills in the NER.
A comprehensive Skill Development, leadership and entrepreneurship promotion and education program for the Sikh community was launched under which scheme?
What is the outlay of the scheme?
Ans-
* It is launched under the Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) Scheme of the Ministry of Minority Affairs, through the Delhi Sikh Gurdwara Management Committee (DSGMC), which is a Statutory Body established for the welfare of the Sikh community. This program will target 10,000 youth and women and seeks to provide modern skills training in employment-oriented job roles, promote Sikh artisans such as Sikligars and other groups who are practising traditional arts & crafts forms, foster women leadership and entrepreneurship, and education for school dropouts.
- ₹100 crore
Who were appointed as the Election Commissioners of India?
Shri Gyanesh Kumar and Dr Sukhbir Singh Sandhu
a) The Ministry of Heavy Industries approved the “E-Vehicle Policy” To promote India as a manufacturing destination for Electric Vehicles (EVs). What are the minimum investment criteria and timeline of the manufacturing?
b) What are the custom duty charges under the E-Vehicle Policy?
c) What is the number of EVs allowed under the scheme?
d) What are the minimum global group revenue criteria for a company?
Ans-
a) The minimum Investment required is ₹4150 Cr (USD 500 Mn) and the timeline for manufacturing is 3 years for setting up manufacturing facilities in India, and to start commercial production of e-vehicles.
- Domestic value addition (DVA) requirement during manufacturing is a localization level of 25% by the 3rd year and 50% by the 5th year will have to be achieved.
The Bank guarantee will be invoked in case of non-achievement of DVA and minimum investment criteria defined under the scheme guidelines. The Bank guarantee will be returned only when 50% DVA is attained and the investment of at least Rs 4,150 crore has been made, or to the extent of duty foregone in 5 years, whichever is higher.b) The customs duty of 15% (as applicable to Completely Knocked Down (CKD) units) would be applicable on vehicles of minimum Cost Insurance Freight (CIF) value of USD 35,000 and above for a total period of 5 years subject to the manufacturer setting up manufacturing facilities in India within a 3-year period.c) - The total number of EVs allowed for import would be determined by the total duty foregone or investment made, whichever is lower, subject to a maximum of ₹6,484 Cr (equal to incentive under the PLI scheme). - A maximum of 40,000 EVs imported at the rate of not more than 8,000 per year would be permissible if the investment is USD 800 Mn or more
d) - Global group Revenue (from automotive manufacturing) should be a minimum of ₹10000 crore
- Global Investment of the Company or its Group Companies in fixed assets (gross block) of ₹ 3,000 crore
Which scheme was integrated into the JanSamarth Portal to facilitate seamless access to institutional credit facilities and promote inclusive growth of fisheries?
When was the JanSamarth Portal launched and loans under which categories are provided to the citizens under this portal?
Ans-
* Kisan Credit Card Fisheries scheme
- It was Launched in 2022 and is a first-of-its-kind online platform for directly connecting lenders with beneficiaries. Citizens can avail of loans under various Central government schemes under 4 loan categories
- Education
- Agri Infrastructure
- Business Activity
- Livelihood
A) The Foundational Literacy and Numeracy Assessment Test (FLNAT) will be Conducted Nationwide Under “ULLAS - Nav Bharat Saaksharta Karyakram”. It will be conducted in how many states?
B) The Union of India has approved the New India Literacy Programme (NILP) to support the States and Union Territories in promoting literacy among non-literates. The scheme covers what age group and how many learners?
C) What are the objectives of the NILP?
D) What is the outlay and tenure of the NILP?
Ans-
* A) It will be conducted across 23 states and approximately Approximately 37 lakh learners will appear for this important nationwide assessment. The FLNAT will be held in the District Institutes of Education and Training (DIETs) and Government/aided schools serving as test centres.
- The assessment comprises three subjects - Reading, Writing, and Numeracy - each carrying 50 marks, totalling 150 marks. This test is developed to evaluate the foundational literacy and numeracy skills of registered non-literate learners
- Qualifying learners will receive a certificate issued by the National Institute of Open Schooling (NIOS), recognising their achievement in acquiring foundational literacy and numeracy skills
- B) It covers the age group of 15 and above and 5 crore learners with 1.00 crore per year by using “Online Teaching, Learning and Assessment System (OTLAS)” in collaboration with the National Informatics Centre, NCERT and NIOS.
- C) The 5 objectives of the scheme are (i) Foundational Literacy and Numeracy, (ii) Critical Life Skills, (iii) Vocational Skills Development, (iv) Basic Education and (v) Continuing Education
- Priority will be given to the Girls and women, SC/ST/OBC/Minorities, Persons with Special Needs (Divyangjans), Marginalized/ Nomadic/ construction workers/ laborers/etc.
- Focus shall be on all Aspirational districts of NITI Aayog, districts with literacy rates less than the National/State average, districts with female literacy rates less than 60% as per the 2011 Census
- D) The outlay of the scheme is ₹1037.90 crore including a Central share of Rs.700.00 crore and a State share of Rs.337.90 crore.
- The Central and State shares are in the ratio of 60:40 for general states and for North Eastern Region (NER) and the Himalayan States the funding ratio is 90:10
- For UTs with legislature, the ratio is 60:40, except in the UT of Jammu & Kashmir where the ratio is 90:10, and for all other UTs without legislature, the Central share is 100%.
What were the changes in effect under the CGTMSE scheme After 1st April 2024?
After 1st April 2023,
- the limit on the ceiling for guarantees has been enhanced from Rs. 2 crores to Rs. 5 crores.
- The Annual Guarantee fees reduced from 0.75% to 0.37%.
- Increase in the threshold limit from Rs. 5 Lakh to Rs. 10 Lakhs for waiver of legal action.
Answer the following based on the revised instructions released by the RBI in Jan for Inoperative Accounts and Unclaimed deposits under the exercise of its powers conferred by Section 35A of the Banking Regulation Act, 1949-
A) What are inoperative accounts?
B) What are unclaimed deposits?
C) What are the revised instructions for Inoperative accounts and Unclaimed deposits?
Ans-
A) A savings or current account in which there are no customer-induced transactions for a period of over 2 years is called an inoperative account.
- The banks shall not allow any debit transaction in an inoperative account unless there is a customer-induced activation.
- Banks-induced transactions will not be considered for the purpose of classifying an account as inoperative.
B) Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from the date of maturity are classified as ‘unclaimed deposits’.
C) - Banks should undertake at least an annual review in respect of accounts, where there are no customer-induced transactions for more than a year.
- Banks should communicate to the account holders through email, SMS or letters that there has been no operations over a period of one year. The message should clearly mention if the customer will not do any transactions in the next one year the account will become inoperative.
- The banks shall make available the facility of updation of KYC for activation of inoperative accounts/ unclaimed deposits at all branches (including non-home branches) and through the Video-Customer Identification Process (V-CIP) if requested by the account holder.
- Interest on savings accounts shall be credited on a regular basis irrespective of the fact that the account is in operation or not.
- The banks are not permitted to levy penal charges for non-maintenance of minimum balances in any account that is classified as an inoperative account.
- No charges shall be levied for activation of inoperative accounts
Answer the following based on the RBI’s master direction on Commercial Paper and Non-Convertible Debentures released in Jan 2024-
a) Who are the eligible issuers of Commercial Papers and Non-Convertible Debentures (NCDs)?
b) Who are the eligible investors of Commercial Papers and NCDs?
c) CPs and NCDs shall be issued in a minimum denomination of ₹____and in multiples of ₹___thereafter?
d) What is the tenure of CP and NCDs respectively?
e) What are some other rules for the primary issuance of CPs and NCDs?
f) How is the Discount/Coupon rate offered for CPs and NCDs?
g) What is the minimum rating requirement for CPs and NCDs?
H) What are the buyback options for CPs and NCDs?
Ans-
A) - Companies
- NBFCs including Housing Finance Companies
- InvITs and REITs
- All India Financial Institutions
- Any other body corporate with a minimum net worth of Rs.100 crore, provided it is eligible to raise debt.
- Co-operative societies and limited liability partnerships with a minimum net worth of ₹100 crore, may also issue CPs under these Directions, subject to the condition specified from time to time
B) - All residents of India.
- Non-residents are eligible subject to the conditions as per FEMA Act 1999
C) ₹5 lakh and in the denomination of ₹5 lakhs thereafter
D) Commercial Papers (CP) - 7 days to 1 year
Non-Convertible Debentures (NCD)- 90 days to 1 year
The settlement cycle for OTC trades in CPs and NCDs shall be either T+0 or T+1.
E) - CPs and NCDs shall be issued in dematerialised form and held with a depository registered with SEBI.
- Issuance of a CP/NCD with options (call/put) is not permitted.
- Issuance of a CP/NCD is not permitted to be underwritten or co-accepted.
- The primary issuances of CPs and NCDs, including both payment of funds to the issuer and issue of CPs and NCDs to the investors, shall be settled within a period not exceeding T+4 working days.
- Total subscription by all individuals, including Hindu Undivided Families, in any primary issuance of CPs or NCDs shall not exceed 25% of the total amount issued
F) - CPs shall be issued at a discount to the face value.
- NCDs shall be issued at a discount to the face value or with a fixed or floating rate coupon.
- The coupon on the floating rate of NCDs shall be linked to a benchmark published by a Financial Benchmark Administrator or approved by the Fixed Income Money Market and Derivatives Association of India (FIMMDA) for this purpose.
- The coupon on the floating rate of NCDs can also be linked to policy rates published by the Reserve Bank.
G) The minimum credit rating, assigned by a Credit Rating Agency (CRA), for the issuance of CPs and NCDs shall be ‘A3’ as per rating symbol and definition prescribed by SEBI.
H) Issuers of CPs and NCDs are permitted to buy back the CPs and NCDs before maturity. Such buybacks shall be subject to the following conditions:
- The buyback of CPs can be made only after 7 days from the date of issue. The buyback of NCDs can be made only after 90 days from the date of issue.
- The investors shall have the option to accept or reject the buyback offer.
- Buyback of CPs and NCDs shall be at the prevailing market price.
- CPs and NCDs bought back, partially or in full, shall be extinguished on the date of buyback.
Buyback means when a company buys back its own shares from their shareholders.
What was the change in the definition of “Bulk Deposit” for Urban Cooperative Banks (UCBs)?
Earlier, the term ‘Bulk Deposits’ meant single Rupee term deposits of ₹15 lakh and above. According to the recent review, “Bulk Deposit” for Primary (Urban) Co-operative Banks would now mean:
i. Single Rupee term deposits of ₹1 crore and above for Scheduled UCBs categorised as Tier 3 and 4 UCBs under the revised regulatory framework.
ii. Single Rupee term deposits of ₹ 15 lakh and above for all other UCBs (i.e., other than Scheduled UCBs in Tier 3 and 4).
How are the interest rates applicable to domestic savings deposits as per RBI guidelines in Jan 2024?
What are the provisions for domestic term deposits as per the RBI guidelines?
Co-operative banks shall, at their discretion, allow the additional interest of __% per annum, over and above the rate of interest on savings or term deposits?
Ans-
* Uniform interest rate: It will be applicable till the balance in the account is up to ₹1 lakh.
Differential interest rate: It will be applicable when the balance in the account exceeds ₹1 lakh. No interest shall be paid on deposits held in domestic current accounts.
- The minimum tenor of the term deposit should be 7 days. In the case of an NRE (Non-Resident External) term deposit, the minimum deposit should be 1 year.
- Differential interest rates shall be offered only on bulk deposits.
- Cooperative banks can provide term deposits without premature withdrawal option only on term deposits above Rs.1 crore.
- 1% per annum
As per the draft circular of RBI, What are the requirements for banks to declare dividends or remit profits?
Ans
* - Banks shall have met the applicable regulatory capital requirement for each of the last three financial years including the financial year for which the dividend is proposed.
- The net NPA ratio, for the financial year for which the dividend is proposed, shall be less than 6%.
- Maximum dividend Payout ratio to shareholders is 50%, if there is 0 Net NPA ratio.
The dividend Payout Ratio is the ratio between the amount of the dividend payable in a year and the net profit for the financial year for which the dividend is payable.
The RBI convened the 2nd Conference of Internal Ombudsmen of select Regulated Entities in Mumbai in Jan. What was the theme of the event?
“Orchestrating Customer Delight through an Empowered Internal Ombudsman”.
Answer the following based on the Master Direction by the Reserve Bank of India (Internal Ombudsman for Regulated Entities) 2023-
What are the appointment criteria for an Internal Ombudsman?
What are the appointment criteria for a Deputy Internal Ombudsman?
What is the tenure of the Internal Ombudsman/Deputy Internal Ombudsman?
Which type of complaints do not fall under the purview of the Internal Ombudsman?
Ans-
* a. The Internal Ombudsman shall either be a retired or serving officer, in the rank equivalent to a General Manager of another bank / Financial Sector Regulatory Body / NBSP / NBFC / CIC, having necessary skills and experience of a minimum 7 years of working in areas such as banking.
b. The Internal Ombudsman shall previously not have been employed, nor presently be employed, by the regulated entity or the regulated entity’s related parties.
c. The Internal Ombudsman shall not be over 70 years of age before the completion of the tenure.
- a. The Deputy Internal Ombudsman shall either be a retired or serving officer, not below the rank of Deputy General Manager of another bank / Financial Sector Regulatory Body / NBSP / NBFC / CIC, having necessary skills and experience of minimum 5 years of working in the field of banking.
b. The Deputy Internal Ombudsman shall not be over 70 years of age before the completion of the tenure.
In the temporary absence of the Internal Ombudsman, exceeding a period of 15 working days, the Deputy Internal Ombudsman may function as the Internal Ombudsman for the limited purpose of reviewing the rejected complaints.
- a. The tenure of the Internal Ombudsman / Deputy Internal Ombudsman in the regulated entity shall be a fixed term of not less than 3 years, but not exceeding 5 years.
b. The Internal Ombudsman / Deputy Internal Ombudsman shall not be eligible for reappointment or for extension of term in the same regulated entity.
c. The Internal Ombudsman / Deputy Internal Ombudsman cannot be removed before the completion of his / her contracted term without the explicit approval of the Reserve Bank of India.
- a. Complaints related to corporate frauds, misappropriation etc., except those resulting from deficiency in service, if any, on the part of the regulated entity;
b. References in the nature of suggestions and commercial decisions of regulated entities. However, service deficiencies in cases falling under ‘commercial decisions’ will be valid complaints for the Internal Ombudsman;
c. Complaints/references relating to (i) internal administration, (ii) human resources, or (iii) pay and emoluments of staff in the regulated entity;
d. Complaints which have been decided by or are already pending in other fora such as the Consumer Disputes Redressal Commission, courts, etc.;
e. Disputes for which remedy has been provided under Section 18 of the Credit Information Companies (Regulation) Act, 2005.
What are the 4 layers of NBFCs based on their size, activity and risk as per the Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs?
NBFCs whose asset size is of ₹_____ or more are considered systemically important NBFCs?
Regulatory minimum Net Owned Fund (NOF) for NBFC-Investment and Credit Companies (ICC), NBFC-Microfinance Institutions (MFI) and NBFC-Factors shall be increased to ₹_____?
** 1. Base Layer comprises of:
a. Non-deposit-taking NBFCs below the asset size of ₹1000 crore.
b. NBFCs undertaking the following activities-
- NBFC-Peer to Peer Lending Platform (NBFC-P2P),
- NBFC-Account Aggregator (NBFC-AA),
- Non-Operative Financial Holding Company (NOFHC)
- NBFCs not availing public funds and do not have any customer interface.
- Middle Layer comprises of:
a. all deposit-taking NBFCs (NBFC-Ds), irrespective of asset size,
b. non-deposit taking NBFCs with asset size of ₹1000 crore and above
c. NBFCs undertaking the following activities.
- Standalone Primary Dealers (SPDs),
- Infrastructure Debt Fund - Non-Banking Financial Companies (IDF-NBFCs)
- Core Investment Companies (CICs)
- Housing Finance Companies (HFCs)
- Infrastructure Finance Companies (NBFC-IFCs)
- Upper-Layer comprises of:
a. The top ten eligible NBFCs in terms of their asset size shall always reside in the upper layer, irrespective of any other factor.
b. NBFCs which are specifically identified by the Reserve Bank of India.
- Top Layer comprises of:
a. If the Reserve Bank is of the opinion that there is a substantial increase in the potential systemic risk from specific NBFCs in the Upper Layer. Such NBFCs shall move to the Top Layer from the Upper Layer.
b. Ideally it remains empty
** NBFCs whose asset size is of ₹ 500 cr or more are considered as systemically important NBFCs.
** ₹10 crore. However, for NBFC-P2P, NBFC-AA, and NBFCs with no public funds and no customer interface, the NOF shall continue to be ₹2 crore.
What are the general requirements for Self-Regulatory Organisations (SRO) in the Fintech sector, as per the draft framework released by the RBI?
At least_____ members of the Board, including the chairperson, should be independent, and without any active association with a FinTech entity?
Ans-
** - SROs should be set up as a not-for-profit company registered under Section 8 of the Companies Act, 2013.
- To ensure transparency and clarity regarding the organisation’s purpose and activities, the Memorandum of Association (MoA) of the applicant company should explicitly state the operation as an SRO-FT as one of its primary objectives.
- The SRO-FT should put in place systems for managing ‘user harm’ instances that come to its notice or are referred to it by the Reserve Bank or any other stakeholder.
- The SRO-FT should not set up entities/offices overseas without the prior approval of the Reserve Bank.
** One third
Answer the following based on the RBI’s Master Circular on Exposure Norms and Statutory / Other Restrictions for UCBs released in Jan 2024-
A) What is the exposure ceiling for Individual and Group borrowers?
B) What is the threshold for the value of loans?
C) What is the exposure limit set for Housing, Real Estate and Commercial Real Estate (HRC) loans?
D) What is the maximum limit of Individual Housing Loans provided to individual borrowers by UCBs?
E) What is the inter-bank gross exposure limit for UCBs?
F) What are the acceptance or placement criteria for deposits for UCBs and what will be the phase-out plan if they do not meet the criteria?
G) What is the aggregate ceiling on Unsecured loans/Advances granted by UCBs?
H) What are the Statutory Restrictions for UCBs?
I) What are the Regulatory Restrictions for UCBs?
Ans-
A) - the exposure to an individual borrower does not exceed 15% of Tier-I capital; and,
- the exposure to a group of connected borrowers/parties does not exceed 25% of Tier-I capital.
- Exposure limits applicability: All types of fresh exposures taken by UCBs after March 13, 2020. UCBs had to reduce their exposures exceeding the new limits by March 31, 2023
B) UCBs shall have at least 50% of their aggregate loans and advances comprising loans of not more than ₹25 lakh or 0.2% of their Tier-I capital, whichever is higher, subject to a maximum of ₹1 crore, per borrower/party.
C) - The exposure of UCBs to HRC loans would be limited to 10% of their total assets. The limit can be exceeded by an additional 5% for granting housing loans to individuals within priority sector eligibility limits.
D) Tier 1 UCBs- up to ₹60 lakh
Tier 2, 3 & 4 UCBs- up to ₹140 lakh
E) - The total amount of deposits placed by a UCB with other banks (inter-bank) shall not exceed 20% of its total deposits as of March 31 of the previous year.
- And deposits placed by a UCB with any single bank shall not exceed 5 per cent of its total deposits as of March 31 of the previous year.
F) Placement/Acceptance criteria for UCBs for accepting deposits from other UCBs:
i. Applicable minimum CRAR plus 1%.
ii. Gross NPAs of less than 7% and Net NPAs of not more than 3%.
iii. Net profit for at least 3 out of the preceding 4 years subject to it not having incurred a net loss in the immediately preceding year.
iv. No default in the maintenance of CRR / SLR during the preceding financial year.
v. Sound internal control system with at least two professional directors on the Board.
vi. Core Banking Solution (CBS) fully implemented.
Phase-out plan if the UCBs do not meet the criteria:
i. UCBs have to phase out 10% of deposits by March 31 of the financial year in which the UCB became ineligible to accept such deposits, and 40%, 70% and 100% by the end of the following financial years.
ii. During the phase-out period, such UCBs shall not accept further deposits from UCBs and shall not open new deposit accounts of UCBs. The renewal of existing deposits is allowed subject to compliance with the phase-out plan mentioned above.
iii. in case the concerned UCB again attains the criteria prescribed in paragraph (a), it shall be eligible to accept deposits from UCBs and will not be required to implement the phase-out plan.
G) The total unsecured loans and advances (with surety or without surety or for cheque purchase) granted by a UCB to its members should not exceed 10% of its total assets as per the audited balance sheet as of 31 March of the preceding financial year.
UCBs can grant loans/Advances for up to 35% of their total assets as per the audited balance sheet at the end of the preceding financial year, subject to the following conditions:
- The priority sector loan portfolio should not be less than 90% of the gross loans
- It shall comprise priority sector loans and the exposure to any individual borrower shall not exceed ₹40,000/-
- CRAR of not less than 9% as per the latest Inspection Report and audited financial statements.
- Gross NPAs of not more than 7% as per the latest Inspection Report and audited financial statements.
H) - In terms of Section 20(1)(a) of the Banking Regulation Act, 1949, a primary (urban) cooperative bank cannot grant loans and advances on the security of its own shares.
Section 20A (1) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies) stipulates that a UCB shall not, except with the prior approval of the Reserve Bank, remit in whole or in part any debt due to it by -
- any of its past or present directors, or
- any firm or company in which any of its directors is interested as director, partner, managing agent or guarantor, or
- any individual, if any of its directors is his partner or guarantor.
In terms of Section 20A (2) of the said Act, any remission made in contravention of the provisions of sub-section (1) above shall be void and of no effect.
I) UCBs shall not make, provide or renew any loans and advances or extend any other financial accommodation to or on behalf of their directors or their relatives, or to the firms/companies/concerns in which the directors or their relatives are interested (collectively called as “director related loans”).
Further, the directors or their relatives or the firms/companies/concerns in which the directors or their relatives are interested shall also not stand as surety/guarantor to the loans and advances or any other financial accommodation sanctioned by UCBs.
The following categories of Director related loans are exempted from the purview of the above instructions:
- Regular employee-related loans to staff Directors, if any, on the Boards of UCBs;
- Normal loans, as applicable to members, to the Directors on the Boards of Salary Earners’ UCBs;
- Normal employee-related loans to Managing Directors/ Chief Executive Officers of UCBs;
- Loans to Directors and their relatives against Government Securities, Fixed Deposits and Life Insurance policies standing in their own name.
What are the revised eligibility criteria released by the RBI for the inclusion of UCBs in the Second Schedule of the RBI Act, 1934?
What are the criteria for Financially Sound and Well Managed (FSWM) UCBs?
Ans-
**
- Licensed Tier 3 and Tier 4 Primary (Urban) Co-operative Banks will be eligible for inclusion in the Second Schedule of the RBI Act, 1934
- CRAR of at least 3% more than the minimum CRAR requirement applicable to the UCB
- And no major regulatory and supervisory concerns.
**
a. The CRAR shall be at least 1% point above the minimum CRAR applicable to a UCB as of the reference date;
b. Net NPA of not more than 3%;
c. Net profit for at least three out of the preceding four years subject to it not having incurred a net loss in the immediate preceding year;
d. No default in the maintenance of CRR / SLR during the preceding financial year;
e. Sound internal control system with at least two professional directors on the Board;
f. Core Banking Solution (CBS) fully implemented; and
g. No monetary penalty should have been imposed on the bank on account of violation of RBI directives/guidelines during the last two financial years.
The Basel-3 norms have prescribed a minimum CRAR of 8% but in India, RBI has prescribed a CRAR of 9% for Scheduled Commercial Banks and 12% for Public Sector Banks.
What are the guidelines on the import of gold by Tariff Rate Quota (TRQ) holders under the India-UAE CEPA?
The guidelines were issued under which sections?
Ans-
**
- AD Category-I banks are permitted to remit advance payment on behalf of Qualified Jewellers as notified by International Financial Services Centres Authority (IFSCA) for 11 days for import of gold through India International Bullion Exchange IFSC Ltd (IIBX).
- Valid Tariff Rate Quota (TRQ) holders under the India-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) as notified by the IFSCA have been permitted to import gold under specific Indian Trade Classification (ITC)(HS) codes through IIBX against the Tariff Rate Quota (TRQ).
- AD Category-I banks may allow valid TRQ holders under the India-UAE CEPA to remit advance payment for 11 days for the import of gold through IIBX against the TRQ
** The directions contained in this Circular have been issued under Section 10(4) and Section 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999).
What was the RBI’s Digital Payment Index for September 2023?
What is the base year of the RBI’s Digital Payment Index?
What are the parameters of the RBI’s Digital Payment Index and what are their respective weightage?
Ans-
** The index for September 2023 stands at 418.77 as against 395.57 for March 2023, which was announced on July 27, 2023
** Base Year- 2018, Base value- 100
** The RBI-DPI comprises 5 broad parameters that enable measurement of the deepening and penetration of digital payments in the country over different time periods.
These parameters are –
(i) Payment Performance (45%),
(ii) Payment Enablers (weight 25%)
(iii) Payment Infrastructure – Supply-side factors (15%),
(iv) Payment Infrastructure – Demand-side factors (10%),
(v) Consumer Centricity (5%).
Each of these parameters has sub-parameters which, in turn, consist of various measurable indicators
RBI launched the ____round of the quarterly Industrial Outlook Survey (IOS) of the Indian manufacturing sector and ____round of the Quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period January-March 2024?
Which entity is being authorized to conduct the IOS and SIOS surveys for the Jan-March 2024 period on behalf of the RBI?
Ans-
** IOS survey- 105th Round. The survey assesses business sentiment based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation.
SIOS survey- 40th Round. The survey assesses the business situation for the current quarter (Q4:2023-24) from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter (Q1:2024-25) based on qualitative responses on a set of indicators pertaining to demand conditions, financial conditions, employment conditions and the price situation. The outlook on key parameters for the two subsequent quarters (Q2:2024-25 and Q3:2024-25) is also covered.
** M/s Genesis Management & Market Research Pvt. Ltd
What directions were released by the RBI in March for the issuing of credit cards under various card networks?
These directions were released under which section?
Ans-
*
- Card issuers shall not enter into any arrangement or agreement with card networks that restrain them from availing the services of other card networks.
- Card issuers shall provide an option to their eligible customers to choose from multiple card networks at the time of issue. [CHOICE DIRECTIVE]. The CHOICE directive shall not be applicable to credit card issuers with the number of active cards issued by them being 10 lacks or less in number.
- Section 10 (2) and 18 of the Payment and Settlement System Act, 2007
Card networks, also known as payment networks or payment processing networks, are organizations that facilitate the transfer of funds between merchants, card issuers (such as banks or financial institutions), and cardholders during electronic transactions. These networks provide the infrastructure and technology necessary to process payments made with credit, debit, prepaid, and other types of payment cards. Examples of prominent card networks include Rupay, Visa, Mastercard, American Express, Discover, UnionPay, and JCB (Japan Credit Bureau).
An omnibus framework was established for recognizing Self-Regulatory Organisations (SRO). What are the eligibility criteria for SROs?
What fraction of the board, including the chairperson, should be independent and unaffiliated with the sector the SRO serves?
Ans-
* Legal Structure: The applicant must be a not-for-profit company registered under Section 8 of the Companies Act, 2013. It should have adequate net worth and infrastructure to fulfil SRO responsibilities continually. Shareholding should be sufficiently diversified, with no entity holding 10% or more of its paid-up share capital.
Sector Representation: The applicant must represent the sector and have specified membership or submit a roadmap to attain it within a reasonable timeframe.
Professional Competence and Integrity: The applicant and its directors must demonstrate professional competence, fairness, and integrity to the satisfaction of the Reserve Bank. They should not be involved in any legal proceedings detrimental to sector interests, nor have convictions for offences, including moral turpitude/economic offences.
Fit and Proper Criteria: The applicant must be fit and proper for SRO recognition in all aspects, agreeing to function according to the prescribed objectives and responsibilities.
- 1/3rd of the board
The limit for Ways and Means Advance (WMA) for the first half of the FY2024-25 (April to Sept) is set at?
The interest rate and Overdraft under the WMA will be?
The WMAs are short-term by nature. They have to be repaid within ___ months from the date they are availed?
Ans-
** ₹150000 crore. The Reserve Bank of India may trigger fresh floatation of market loans when the Government of India utilises 75% of the WMA limit.
** Interest rate: Repo Rate, Overdraft: 2% above the Repo Rate
** Within 3 months
Ways & Means Advance (WMA) is a short-term credit facility provided by the RBI to state and central governments for their mismatch in receipts and expenditures. They are provided for short-term and have to be repaid within 3 months from the date of receiving.
- WMAs are meant for temporary mismatches, not to finance long-term government spending.
- They can be helpful for unforeseen situations where the government’s income falls short or there are delays in tax collection.
The Two Types of WMAs are:
a- Normal WMA: These are clean loans provided against the government’s creditworthiness. There’s no collateral involved.
b- Special WMA (SWMA): These are secured loans provided against the government securities held by the state. They come with a slightly lower interest rate compared to normal WMAs.
What is the UDGAM portal and what is the use of the UDGAM portal?
As of March 4, 2024, there are ___ banks, which are part of the UDGAM portal, and they cover around ___% of unclaimed deposits (in value terms) in the Depositor Education and Awareness (DEA) Fund of RBI?
What inputs are required to search unclaimed deposits?
Ans-
** UDGAM refers to Unclaimed Deposits-Gateway to Access Information, which is an online portal developed by RBI. It facilitates the registered users to search unclaimed deposits/accounts across multiple banks in one place in a centralised manner. Users cannot claim unclaimed deposits from the UDGAM portal or the RBI.
It facilitates only
a) the search of unclaimed deposits/accounts across multiple banks in one place and
b) provides information on the claim/settlement process of each bank (which will be available in the search result).
** There are 30 banks part of the UDGAM portal and they cover 90% of unclaimed deposits
** a. Individuals: For searching unclaimed deposits in the individual category, a user has to provide inputs such as the name of the account holder, the name of the bank (one or more banks can be selected) and any one or more of the five inputs viz., Permanent Account Number (PAN), Driving License Number, Voter ID Number, Passport Number and Date of Birth of the account holder.
b. Non-Individuals: For searching unclaimed deposits in the non-individual category, a user has to provide inputs such as name of the entity, name of the bank (one or more banks can be selected) and any one or more of the four inputs viz., Name of the authorised signatory, PAN, Corporate Identification Number (CIN) and Date of Incorporation.
Even if none of the above mentioned information is available, the user can type the address of the account holder or the entity (as the case may be), in place of these inputs mentioned above for undertaking the search.
What is the Depositor Education and Awareness Fund Scheme (DEA), 2014, it was launched under which section?
- “The Depositor Education and Awareness Fund (DEA Fund) Scheme, 2014” was created by the Reserve Bank of India under Section 26A of the Banking Regulation (BR) Act, 1949 to promote financial literacy by raising awareness among depositors for their rights, responsibilities and options related to banking and financial services.
- This scheme establishes the Depositor Education and Awareness Fund (Fund), which is funded by unclaimed deposits and unclaimed amounts in deposit accounts of banks that have remained inactive or dormant for 10 years or more by the depositor.
- The funds accumulated under the DEAF Scheme are utilized for various activities and initiatives aimed at promoting depositor education and awareness.
The “Prerana” program was launched by which ministry, at which place and why?
The pilot phase of the “Prerana” programme was launched in which states and UTs?
**
- It was launched by the Department of School Education and Literacy (DoSEL), Ministry of Education To inspire the youth of the country to become “catalysts of change”.
- Prime Minister Narendra Modi’s first school in his hometown Vadnagar in the Mehsana district of Gujarat is being developed as a model school called “PRERANA”.
- The Prerna School will offer a 5-day programme of Experiential and immersive learning to Students of Grades IX to XII. The week-long camp/programme at Prerana School is a journey of inspiration to invoke the 3 following fundamental themes:
a) Who am I?
b) What is our history and Cultural Heritage?
c) What can I do for my country?
** It held for five batches of 20 participants each from five states and one Union Territory:
Haryana, Rajasthan, Madhya Pradesh, Maharashtra, Gujarat and UT of Daman and Diu
A) The Scheme Guidelines for the implementation of the R&D scheme under the National Green Hydrogen Mission were released. What is the outlay and tenure of the R&D component of the National Green Hydrogen Mission?
B) Support to R&D will be provided for which type of projects?
C) What percentage of the project cost will be provided under the R&D component?
D) What will be the pattern for the disbursement of funds?
E) What will be the overhead charges provided to institutions under the scheme?
Ans-
A) Outlay- ₹400 crore, Tenure- till FY2025-26
B) Support will be provided under the Mission for the following types of projects:
- Mission Mode Projects with short-term (0-5 years) horizon.
- Grand Challenge Projects with a mid-term (0-8 years) impact horizon.
- Blue Sky Projects have a long-term (0-15 years) horizon.
- Centers of Excellence
C) - Upto 100% of the total project cost will be provided to Academic Institutions, Universities, Government/Non-profit research organizations, and Academia/National R&D lab partners.
- Upto 80% of the total project cost will be provided to Private institutes/research organizations and industries.
D) The Pattern of release of Central Financial Assistance (CFA) will be on a milestone basis:
- up to 30% of the total assistance excluding the institutional overheads would be released along with the sanction depending on the requirement of equipment in the project.
- The balance assistance excluding the institutional overheads would be sanctioned as per the annual allocation based on the progress/milestone achieved in the project.
E) - Overhead charges are restricted up to 8% of the project cost for the projects costing up to Rs. 1 Crore.
- In case of the project cost of Rs. 1 to 5 Crore, the overhead charges will be 8% of the project cost or Rs. 15 lakh whichever is less.
- In case of the project cost of more than Rs. 5 Crore, the quantum and overhead charges will be decided/approved by the MNRE on a case-to-case basis
The World Quantum Day is observed annually on 14 April, What is the tenure and outlay of the National Quantum Mission?
What are the objectives of the National Quantum Mission?
** Tenure- It will be implemented for a period of eight years from FY2023-2024 to FY2030-2031 by the Department of Science and Technology, Ministry of Science and Technology.
Outlay- ₹6003 crore, Tenure- 2023-24 to 30-31
** - The Mission aims to seed, nurture and scale up scientific and industrial R&D and create a vibrant & innovative ecosystem in Quantum Technology (QT).
- The Mission objectives include developing intermediate-scale quantum computers with 50-1000 physical qubits in 8 years in various platforms like superconducting and photonic technology.
- Mission Implementation includes setting up four Thematic Hubs (T-Hubs) in top academic and National R&D institutes in the domains of quantum Computing, Quantum Communication, Quantum Sensing & Metrology and Quantum Materials & Devices. The hubs will focus on the generation of new knowledge through basic and applied research as well as promote R&D in areas that are mandated to them.
The Ministry of Heavy Industries receives Seven bids against Global Tender for the selection of bidders to set up giga-scale Advanced Chemistry Cell (ACC) manufacturing facilities of cumulative ___GWh capacity under the PLI ACC scheme?
When was the PLI-ACC Scheme (PLI Scheme on National Programme on ACC Battery Storage) launched and at what outlay?
What are the targets of the beneficiary firms?
** 10 GWh
** It was launched in 2021 by the Ministry of Heavy Industries with an outlay of ₹18100 crore. It aims to achieve the manufacturing capacity of Fifty (50) giga-watt hours (GWh) of the ACC.
** The beneficiary firm has to ensure achieving a domestic value addition of at least 25% and raise it to 60% within 5 Years while also making the mandatory investment of Rupee 225 crore /GWh for committed capacity within 2 Years.
The Reserve Bank of India (RBI) in April came out with guidelines for the voluntary conversion of small finance banks (SFBs) into universal banks. What are the eligibility criteria for the same?
– Listed SFBs with a Schedules status with a net worth of ₹1000 crore
- Gross NPA of 3% or less and Net NPA of 1% or less in the past 2 financial years
- SFBs must have reported a net profit in the past 2 financial years and must have met the prescribed capital adequacy norms
- Should have operated for at least 5 years as SFBs
Answer the following according to the RBI circular released in Jan 2021 “Corporate Governance in Banks - Appointment of Directors and Constitution of Committees of the Board”-
a) What is the eligibility for the chair of the board?
b) What is the quorum requirement of the board?
c) What are the directions for the Audit Committee of the Board (ACB)?
d) What are the directions for the Risk Management Committee of the Boards (RMCB)?
e) What are the directions for the Nominations and Remuneration Committee (NRC)?
f) What is the age limit and job tenure of Non-Executive Directors (NED) in the chair of the board of Banks?
g) Remuneration up to ₹_____lakh per annum will be provided to NEDs for their sitting fees and expenses?
h) The post of the MD & CEO and WTD (Whole Time Directors) cannot be held by the same incumbent for more than ____years?
i) What is the age limit for MD & CEO and WTDs?
Ans-
a) - The Chair of the board shall be an independent director and In the absence of the Chair of the board, the meetings of the board shall be chaired by an independent director.
- At least half of the directors attending the meetings of the board shall be independent directors.
b) The quorum for the board meetings shall be one-third of the total strength of the board or three directors, whichever is higher.
c) - The ACB shall be constituted with only non-executive directors (NEDs) and at least two-thirds of the members attending the meeting of the ACB shall be independent directors. The meetings of the ACB shall be chaired by an independent director who shall not chair any other committee of the Board.
- The Chair of the Board shall not be a member of the ACB.
- The ACB shall meet at least once a quarter with a quorum of three members.
- The Chair of the ACB shall not be a member of any committee of the board which has a mandate of sanctioning credit exposures.
D) - The board shall constitute an RMCB with a majority of NEDs (Non-Executive Directors).
- The RMCB shall meet with a quorum of three members.
- At least half of the members attending the meeting of the RMCB shall be independent directors of which at least one member shall have professional expertise/ qualification in risk management.
- Meetings of RMCB shall be chaired by an independent director who shall not be a Chair of the board or any other committee of the board.
- The Chair of the board may be a member of the RMCB only if he/she has the requisite risk management expertise.
- The RMCB shall meet at least once in each quarter.
E) - The board shall constitute an NRC made up of only NEDs.
- The NRC shall meet with a quorum of three members.
- At least half of the members attending the meeting of the NRC shall be independent directors, of which one shall be a member of the RMCB (Risk Management Committee of the Board).
- The meetings of the NRC shall be chaired by an independent director.
- The Chair of the Board shall not chair the NRC.
F) Age Limit- 75 years
Tenure- 8 years. After completing eight years on the board of a bank the person may be considered for re-appointment only after a minimum gap of three years.
G) Up to ₹30 lakh per annum will be provided to NEDs as their sitting fees and expenses
H) 15 years. The individual will be eligible for reappointment for a minimum gap of 3 years. MD&CEO or WTD who is also a promoter/ major shareholder, cannot hold these posts for more than 12 years. However, in extraordinary circumstances, at the sole discretion of the Reserve Bank such MD&CEO or WTDs may be allowed to continue up to 15 years
I) The overall age limit is 70 years and Within the overall limit of 70 years, as part of their internal policy, individual bank Boards are free to prescribe a lower retirement age for the WTDs, including the MD&CEO.
Answer the following based on the “Master Circular on Board of Directors –UCBs”, released by the RBI in April 2024-
a) What is the minimum number of directors required in the board and what should be their experience and education?
b) UCBs other than those having deposit size less than ₹_____and salary earners’ banks are also required to constitute a Board of Management (BoM) to facilitate professional management and focused attention to their banking-related activities, by making suitable amendments to their bye-laws?
c) What is the asset size requirement for UCBs to set up a risk management committee?
d) What are the eligibility criteria for the Director’s post in UCBs, according to the Madhav Das Committee?
e) What is the minimum membership duration required for voting on the board for UCBs, according to the Madhav Das Committee?
f) What is the minimum number of directors requirement concerning state government representatives, according to the Madhav Das Committee?
a) - Banks should, at all times, have at least two professional directors on the board
- They should have suitable banking experience (at the middle/senior management level) or relevant professional qualifications in the fields of law, accountancy or finance.
b) less than ₹100 crore
c)- UCBs having asset size of ₹5000 crore or above (as of March 31 of the previous year) are advised to set up a Risk Management Committee (of the Board).
- The Board shall decide the membership, scope of work and frequency of meetings of the Risk Management Committee.
d) - Those contesting for directorship in urban banks should have been members for a minimum period of two years.
- Similarly, members contesting for election to the Board should have had a minimum deposit of any type of Rs. 500 in the urban bank concerned for a minimum period of two years continuously.
e) members of a primary (urban) cooperative bank should be permitted to participate in the election of its Board of Management only after being members for a minimum period of 12 months from the date of enrollment.
f) The number of such representatives should not exceed one-third of the total number of directors or three, whichever is less.
A) What will be the penalties imposed on bank branches and currency chests for deficiency in notes and coins remittances to the RBI, as per the Master Circular released in April?
B) What will be the penalty imposed for Non-compliance with operational guidelines by currency chests detected by RBI officials?
C) What penalty will be levied for Violation of any of the terms of the agreement with RBI (for opening and maintaining currency chests) or deficiency in service in providing exchange facilities, as detected by RBI officials?
D) A flat penalty of ₹_____per ATM would be imposed on an ATM operator if an ATM is cash-out (Out of Cash) for more than 10 hours in a month?
A) 1) Shortages of notes in soiled note remittances and shortages of notes and coins in currency chest balances:
- For notes in denomination up to ₹50: ₹50/- per piece in addition to the loss.
- For notes in denomination of ₹100 & above: Equal to the value of the denomination per piece in addition to the loss.
- For coins in all denominations: Equal to the value of the denomination per piece in addition to the loss.
The recovery of loss and imposition of penalty shall be done immediately on detection of shortage, irrespective of the number of pieces.
2) Counterfeit notes detected in soiled note remittances and currency chest balances:
- Penalty at 100% of the notional value of Counterfeit Notes, in addition to the recovery of loss to the extent of the notional value of such notes, will be imposed
3) Mutilated notes (including deliberately cut notes and built-up notes) detected in soiled note remittances and currency chest balances:
₹50/- per piece irrespective of the denomination in addition to the loss. The recovery of loss and imposition of penalty shall be done immediately on detection, irrespective of the number of pieces.
B) - Penalty of ₹5,000/- for each instance of irregularity.
- Penalty shall be enhanced to ₹10,000/- in case of repetition/recurrence of irregularity in consecutive inspection cycles or earlier
Penalties in this domain pertain to:
1) Non-functioning of CCTV, non-compliance with rules/guidelines pertaining to CCTV, recording preservation period and related issues
2) Branch cash/documents kept in the strong room (CC’s vault)
3) Non-utilisation of Note Sorting Machines (NSMs) for sorting of notes (NSMs not used for sorting of high denomination notes, i.e. notes of denomination ₹100 and above, received over the counter or not used for sorting notes remitted to chest / RBI)
4) Non-conduct of surprise verification of currency chest balances - at (i) bimonthly intervals by officials unconnected with the operations of currency chest, and (ii) six-monthly intervals by officials from the Controlling Office
Penalty
C) - ₹10,000/- for any violation of the agreement or deficiency of service.
- ₹5 lakh in case there are more than 5 instances of violation of agreement/deficiency in service by the currency chest/branch in consecutive inspection cycles or earlier. The levy of such penalty shall be placed in the public domain.
Penalties in this domain pertain to:
1) Non-issue of coins over the counter to any member of the public despite having stock.
2) Refusal by any bank branch to exchange soiled notes/refusal by any currency chest branch to adjudicate mutilated notes tendered by any member of the public.
3) Denial of facilities/services to linked branches / linked CCs of other banks.
4) Non-acceptance of lower denomination notes (i.e. denomination of ₹50 and below) tendered by members of the public and linked bank branches for exchange/deposit.
5) Detection by RBI of mutilated, built-up, counterfeit notes in reissuable packets prepared by the currency chest branches.
D) ₹10000 per ATM
Answer the following based on the Master Direction on the Framework of incentives for the Currency Distribution & Exchange Scheme for bank branches including currency chests, released by the RBI in April 2024-
A) What is the incentive structure for Opening and maintaining CCs at centres having a population of less than 1 lakh, in underbanked states?
B) What is the incentive structure for the Exchange of soiled notes/adjudication of mutilated notes over the counter at bank branches?
C) What is the incentive structure for the Distribution of coins?
D) What will be the service charge levied by the currency chests on the non-chest branches?
E) What are the eligibility criteria for large modern Currency Chests (CCs)?
A)
- Capital Cost reimbursement of 50% of capital expenditure (inclusive of all taxes) subject to a ceiling of ₹50 lakh per CC. In the North Eastern region, up to 100% of capital expenditure is eligible for reimbursement subject to the ceiling of ₹50 lakh (inclusive of all taxes).
- Revenue cost Reimbursement of 50% of revenue expenditure (inclusive of all taxes) for the first 3 years. In the North Eastern region, 50% of revenue expenditure (inclusive of all taxes) is eligible for reimbursement for the first 5 years.
B)
- Exchange of soiled notes – ₹2/- per packet for exchange of soiled notes in denominations up to ₹50/- and below.
- Adjudication of mutilated notes – ₹2/- per piece.
C)
- ₹65/- per bag for distribution of coins.
- An additional incentive of ₹10/- per bag shall be paid for coin distribution in rural and semi-urban areas on the submission of a Concurrent Auditor (CA) certificate to this effect
D) Service charge to be levied by the CC on the non-chest branches
- Large modern CCs – ₹8/- per 100 pieces.
- Other CCs – ₹5/- per 100 pieces.
E) - Chest Balance Limit of at least ₹10 billion
- Area of the strong room/ vault of at least 1500 sq ft and the Area of the strong room/vault should be at least 600 sq ft for those situated in hilly/inaccessible places states.
- Processing capacity of 6,60,000 pieces of banknotes per day. For those situated in the hilly/ inaccessible places, capacity of 2,10,000 pieces of banknotes per day.
- Amenability to the adoption of automation and adaptability to implement IT solutions.
The minimum amount of deposit or withdrawal from the currency chest shall be ₹_____and in the multiples of ₹_______thereafter?
A penalty of ₹_____ and penal interest at the rate of __% will be charged for wrong reporting of soiled notes, delayed reporting and diversions reported as deposit or withdrawal?
In which portal should the currency chest report such transactions?
** ₹1 lakh and thereafter, in the multiples of ₹50000
** Penalty- ₹50000
Penal interest- 2% over the prevailing bank rate
** The currency chests shall invariably report all transactions through the CyM-CC portal on the same day by 7 pm
Answer the following based on the Master circular on the “disbursement of government pensions by the agency banks “ released by the RBI in April-
A) All agency banks adhere to the recommendations of which committee related to the disbursement of pensions?
B) What interest rate will be provided to pensioners for delay in crediting pension/arrears?
A) Prabhakar Rao Committee
B) Pension-paying banks should compensate the pensioner for delay in crediting pension/ arrears thereof at a fixed interest rate of 8% per annum for the delay after the due date of payment and the compensation shall be credited to the pensioner’s account automatically without any claim from the pensioner on the same day
Answer the following based on the master circular on the “Conduct of Government Business by Agency Banks-Payment of Agency Commission” released by the RBI-
A) The Reserve Bank of India carries out the general banking business of the Central and State Governments through its own offices and through the offices of the agency banks under which section of the RBI act?
B) What are the different agency commissions paid by the RBI with respect to different transactions?
C) If the work is shared between two banks, the agency commission is shared between the banks in the proportion of _____?
A) Section 45 of the RBI Act, 1934
B) Receipts- Physical Mode: ₹40 per transaction
Receipts- e-Mode: ₹9 per transaction
Pension payments: ₹75 per transaction
Payments other than Pension: 6.5 paise per ₹100 turnover
- The number of transactions eligible for payment of agency commission should not exceed 14 per pensioner per year.
- Agency banks are advised to furnish their claim on agency commission to the Reserve Bank within 60 calendar days from the end of the quarter in which the transactions have been conducted
- Agency banks will be liable to pay penal interest at the Bank Rate as notified by the Reserve Bank of India plus 2% for any wrong claims of agency commission settled
Resident entities were allowed to hedge against the price risk of ______using OTC (Over the Counter) derivatives in the IFSC recognized by the IFSCA?
Against the price risk of Gold.
What will be the validity periods for the Key Fact Statements (KFS) of loans and advances provided to the borrowers by regulated entities?
- Validity period of at least 3 working days for loans having a tenor of 7 days or more
- Validity period of 1 working day for loans having a tenor of less than 7 days
The validity period refers to the period available to the borrower, after being provided the KFS by the RE, to agree to the terms of the loan.
Under the Differential Rate of Interest (DRI) scheme, the banks provide what finances to the weaker sections of the community and SC/STs engaged in productive and gainful activities?
What are the eligibility criteria under the DRI scheme?
** - Banks provide finance up to ₹15,000/- at a concessional rate of interest of 4% per annum to the weaker sections of the community for engaging in productive and gainful activities.
- Banks are advised to grant at least 2/5th of the total advances under the DRI scheme to SC/STs
- Members of SCs/STs satisfying the income criteria of the scheme can also avail of housing loans up to ₹20,000/- per beneficiary over and above the individual loan of ₹15,000/- available under the scheme.
** The size of land holding should not exceed 1 acre of irrigated land and 2.5 acres of unirrigated land, these do not apply to SCs/STs
The Differential Rate of Interest (DRI) scheme is a social banking initiative aimed at providing financial assistance to the economically weaker sections of society at a concessional rate of interest. Launched in 1972, the scheme’s primary objective is to ensure access to credit for marginalized individuals who might otherwise be excluded from the formal financial system. The scheme primarily focuses on economically disadvantaged groups, including Scheduled Castes (SC), Scheduled Tribes (ST), and other backward classes (OBC)
Answer the following based on the RBI’s Master Circular on the DAY-NRLM released in April-
a) What credit facilities are provided by banks to SHG members in order to facilitate women SHG members to graduate into entrepreneurs?
b) Credit guarantee up to what amount will be provided under the “Women Enterprise Acceleration Fund” under DAY-NRLM?
c) What interest subvention will be provided to women SHGs for prompt repayment?
d) Which bank has been nominated as the nodal bank for the Ministry of Rural Development (MoRD) for 2024-25?
A) – Loans up to ₹10 lakh to individual SHG members.
Eligibility: SHGs which are more than 2 years old and have accessed 1 dose of a bank loan with timely repayment.
- One woman in every SHG under DAY-NRLM may be provided a loan up to ₹1 lakh under the MUDRA Scheme if she is otherwise eligible.
- minimum Overdraft Facility of ₹5000 to every woman SHG member having a PMJDY account in accordance with the guidelines issued by the Indian Banks’ Association (IBA)
B) For loans outstanding up to ₹5 lakh, for a maximum period of 5 years. In case of a loan amount exceeding ₹5 lakh, reimbursement of credit guarantee fees will be done in proportion to the loan amount.
c) - Women entrepreneurs making prompt repayment of credit to financial institutions will be provided 2% interest subvention up to ₹1.5 lakh for a maximum duration of 3 years.
- All banks extending credit for enterprises fully or partially owned by women Self Help Group members under DAY-NRLM at an interest rate equivalent to (1-year MCLR + max 3% spread) or a maximum of 14% per annum will be eligible to claim interest subvention under this scheme
d) Indian Bank
As per the RBI, After recording double-digit growth for two consecutive years, India’s services exports decelerated in FY24 to a three-year low, with a modest increase of ___% to _____?
Services imports decreased by ___% to _____USD in FY2023-24?
** Increase by 4.9% to USD 341 billion. However, net services exports grew at a robust pace of 13.6% to USD 162.8 billion
** Decreased by 2% to USD 178.3 billion USD
As per the RBI, India’s domestic gold reserves increased by ____% from 2019 to 2024?
According to the half-yearly report on foreign exchange management, the share of gold in foreign exchange reserves increased from ___% in Sept end 2023 to ___% in March end 2024?
Forex reserve of India by March end 2024 was _____?
** increased by 40% from 408 mt in 2019 to 612 mt in March end 2024
** From 7.37% to 8.15%
**USD 641 billion
The RBI has increased the positional limit in ETCD (Exchange Traded Currency Derivatives) from _____USD to _____USD, without providing documentary evidence to establish the underlying exposure?
from 10 million USD to 100 million USD
Answer the following based on the “Primary Urban Cooperative Banks Outlook 2022-23”, released in April 2024:
a) As on March 31, there were _____ UCBs in India, with _____ branches across the country with a total deposits of ₹_____ and total advances of ₹____?
b) Which state has the highest number of UCBs?
c) What was the increment of advances of UCBs to the priority sector from FY2022 to FY2023?
d) What is the priority sector lending target set by the RBI for UCBs?
a) Total UCBs- 1502
Total Branches- 10117
Total Deposits- ₹5.3 trillion
Total Advances- ₹3.3 trillion
b) Maharashtra has the highest number of UCBs with a total of 475
c) increased by more than 25% from ₹1.73 trillion in FY2022 to ₹2.2 trillion in FY2023
d) - The target is 65% for FY2024-25 and 75% for FY2025-26. However, UCBs had already achieved 66.88% in FY23.
What is the net worth criterion requirement for Non-banks providing physical Payment Aggregators services?
What is the new definition for Payment Aggregators?
What is the new definition of Merchants?
** - Non-banks providing Physical-PA services as of the date of this circular, shall have a minimum net worth of ₹15 crores at the time of submitting the application to the RBI for authorisation and a minimum net worth of ₹25 crores by March 31, 2028. The net worth of ₹25 crore shall be maintained at all times thereafter.
- New non-bank Physical-PA (i.e. entities which have not commenced operations before the date of this circular) shall have a minimum net worth of ₹15 crores at the time of submitting the application to the RBI for authorisation and shall attain a minimum net worth of ₹25 crores by end of the third financial year of grant of authorisation
** “Entities which onboard merchants and facilitate aggregation of payments made by customers to such merchants, for purchase of goods and services, using one or more payment channels, in online or physical Point of Sale payment modes through a merchant’s interface (physical or virtual), and subsequently settle the collected funds to such merchants.”
Simple Definition: Payment Aggregators (PAs) are third-party platforms that facilitate transactions between merchants and customers by providing a unified interface to process payments through various mechanisms such as card payments, UPI, Bank transfer and digital wallets in a physical Point-of-Sale (PoS) or online in an e-commerce platform.
a. Online PAs (PA – O): PAs which facilitate e-commerce transactions in non-delivery versus Payment mode.
b. PA – physical Point-of-Sale (PA – P): PAs which facilitate face-to-face/proximity payment for Delivery vs Payment transactions.
** Merchant: Entities which sell/provide goods and services purchased by the customer. They include a marketplace also.
a. Small merchants: Physical merchants (those undertaking only proximity/face-to-face transactions) with business turnover less than the threshold limit of Rs. 5 lacks per annum and not registered under Goods and Services Tax.
b. Medium merchants: Merchants (physical / online), excluding small merchants, with business turnover less than the threshold limit of Rs. 40 lahks per annum or from ₹5 lakhs to less than ₹40 lakh per annum. Such merchants are not registered under Goods and Services Tax.
What are the limits for FPI investments in Government Securities (G-SEC), State Government Securities (SGSs), Corporate Bonds and Credit Default Swaps (CDS) respectively for FY2024-25?
G-Sec- 6% of the total outstanding securities in 2024-25
State Government Securities- 2% of the total outstanding securities in 2024-25
Corporate Bonds- 15% of the total outstanding securities in 2024-25
Credit Default Swap- 5% of the outstanding securities in corporate bonds.
As per the guidance note on “Operational Risk Management and Operational Resilience” for regulated entities released by the RBI, what are the 3 pillars and how many indicators for the same?
What are the line of defence for the management of operational risk?
** The three pillars are:
a) Prepare and Protect
b) Build Resilience
c) Learn and Adapt
These three pillars include 17 indicators
** 1st line of defence- Business Unit Management
2nd Line of defence- Organisational Operational Risk Management function including compliance function
3rd Line of defence- Audit function
A RE should set at least one impact tolerance metric for each of its critical operations. At a minimum, there should be a
(a) time-based metric (e.g., maximum acceptable duration a critical operation can withstand a disruption),
(b) quantity-based metric (e.g., maximum extent of data loss that an RE would accept as a result of disruption) and
(c) service level metric (e.g., minimum level of service that an RE would maintain while operating under alternative arrangements.)
The Ministry of Skill Development & Entrepreneurship (MoSDE) signed an MoU with which company in May to conduct two pilot projects under the “Drone Didi Yojana”?
The pilot projects will be conducted in which places and why?
What is the “Namo Drone Didi” scheme?
- ** - Under the initiative, rural women are trained to become drone pilots for agricultural purposes.
- The initiative aims to enhance economic empowerment and financial autonomy among women, especially in rural areas.
- The initiative aims to equip 15,000 women-led Self-Help Groups (SHGs) with agricultural drones to assist in tasks such as crop monitoring, spraying fertilisers and sowing seeds. This will also provide additional income opportunities for many women.
When was the Maharatna scheme introduced, and what are the eligibility criteria for a company to attain a Maharatna Status?
When was the Navratna scheme introduced, and what are the eligibility criteria for a company to attain a Navratna Status?
When was the Miniratna scheme introduced, and what are the eligibility criteria for a company to attain a Miniratna Category 1 and Category 2 license respectively?
How many Maharatna, Navratna and Miniratna CPSEs are there as of 30 April 2024?
** The Maharatna scheme was introduced in May 2010, The following are the eligibility criteria:
i) Having Navratna status.
(ii) Listed on the Indian stock exchange with a minimum prescribed public shareholding of 25% as prescribed under SEBI regulations.
(iii) Average annual turnover of more than Rs. 25,000 crore, during the last 3 years.
(iv) Average annual net worth of more than Rs. 15,000 crore, during the last 3 years.
(v) Average annual net profit after tax of more than Rs. 5,000 crore, during the last 3 years.
(vi) Should have significant global presence/international operations.
** - Navratna scheme was launched in 1997. The government grants Navratna status to CPSEs that have obtained an “excellent” or “very good” memorandum of understanding (MoU) rating in three of the past five years. They —
- They should also have a composite score of 60 or above in six selected performance indicators which are:
(i) net profit to net worth,
(ii) manpower cost to total cost of production/services,
(iii) profit before depreciation, interest and taxes to capital employed,
(iv) profit before interest and taxes to turnover,
(v) earning per share and
(vi) inter-sectoral performance.
** The Miniratna scheme was launched in 1997. Miniratnas are divided into two categories.
- Category I Miniratna status is considered for those CPSEs that have made a profit in the past three years continuously, with a pre-tax profit of ₹30 crore or more in at least one of the three years, and have a positive net worth.
- Category II Miniratnas are those CPSEs that have made a profit for the past three years continuously and have a positive net worth.
- Miniratna CPSEs should not have defaulted in the repayment of loans or interest payment on any loan due to the government, and they should not depend upon budgetary support or government guarantees
- Maharatna- 13
Navratna- 20
Miniratna Category 1- 54, Miniratna Category 2- 11
What is RBI’s Retail Direct Scheme?
What is the minimum and maximum investment amount required in securities like Treasury Bills, Dated Government Securities (G-Sec), State Development Loans (SDL) and Sovereign Gold Bonds (SGB) respectively?
** - The RBI’s Retail Direct Scheme was launched in Nov 2021 to enable individual investors to invest in various government securities such as T-Bills, Dated-G-Sec, State Development loans (SDL) and Sovereign Gold Bond (SGB) schemes. It requires investors to open a Retail Direct Gilt (RDG) account with the RBI, enabling them access to the RBI’s NDS-OM retail portal which facilitates the trading of government securities.
- An individual can open only one RDG account. The RDG account can be opened singly or jointly with another retail investor who meets the eligibility criteria.
- The Gilt account is opened by an investor with a bank or a Primary Dealer (PD). Banks and Primary Dealers further open a Constituents’ Subsidiary General Ledger (CSGL) account with the RBI. Thus banks and PDs act as custodians of investors or Gilt Account Holders and maintain holdings of their constituents in a CSGL account with the RBI
** Treasury Bills:
Minimum- ₹10000,
Maximum -5% of the aggregate nominal amount of the issue within the notified amount as specified by the Government of India, or any other percentage determined by RBI
Government of India Dated Securities (G-Sec):
Minimum- ₹10000
Maximum- ₹2 crore (face value) per security per auction
State Development Loans (SDL):
Minimum- ₹10000
Maximum- 1% of the notified amount (face value) per auction
Sovereign Gold Bonds (SGBs):
Minimum- 1 gram of gold
Maximum- 4 grams of gold per fiscal year
The RBI decided to transfer a surplus (Dividend) of ₹___ to the government for the FY2023-24?
The Contingency Risk Buffer (CRB) of the RBI was ___% of its balance sheet?
** - ₹2.11 trillion. The dividend transfer is well above the budgeted figure of ₹1.02 trillion in the Interim Budget for 2024-25 (FY25), which includes dividends from both the RBI and financial institutions.
- According to economists, the larger surplus was due to higher income in FY24, both from domestic and foreign assets, which increased its profit
- The higher-than-budgeted RBI surplus transfer would help to boost the Government of India’s resource envelope in FY25, allowing for enhanced expenditures or a sharper fiscal consolidation
** 6.5% of its balance sheet
Answer the following based on the RBI’s “Integrated Ombudsman Scheme 2021”-
A) What are the requirements for banks and NBFCs to be covered under the RBI’s Integrated Ombudsman Scheme 2021, respectively?
B) What is the tenure for Ombudsman and Deputy ombudsman, appointed for regulated entities?
C) The Ombudsman will provide compensation up to what amount to the complainant and what is the limit on the amount involved in the dispute that can be addressed by the Ombudsman?
A) Banks: All commercial banks with a deposit size of ₹50 Crore and above, as on the date of the audited balance sheet of the previous financial year
NBFCs:
All Non-Banking Financial Companies (excluding Housing Finance Companies) which
(a) are authorized to accept deposits; or
(b) have customer interface, with an assets size of ₹100 crore and above as of the date of the audited balance sheet of the previous financial year are eligible under the scheme
Note: Core Investment Companies, Infrastructure Debt Fund-Non-banking Financial Companies, Non-Banking Financial Companies-Infrastructure Finance Companies, companies in resolution or winding up / liquidation, or any other NBFC specified by RBI are excluded from the ambit of the RB-IOS, 2021.
B) The appointment of the Ombudsman or the Deputy Ombudsman shall be made for a period not exceeding 3 years at a time.
- An RBI Ombudsman is a senior official of RBI appointed by RBI to redress the complaints from customers of the REs against “deficiency in service”
- “Deficiency in service” means a shortcoming or an inadequacy in any financial service or such other services related thereto, which the RE is required to provide statutorily or otherwise, which may or may not result in financial loss or damage to the customer.
- A Deputy Ombudsman is a senior officer appointed by RBI to assist the RBI Ombudsman
C) - Compensation up to ₹20 lakh will be provided to the complainant for the consequential losses (Secondary losses)
Consequential loss refers to secondary damages that occur as a result of the primary issue or dispute. For example, if the primary dispute is about a financial transaction, consequential losses could include lost business opportunities or additional financial burdens that resulted from the original problem.
- An additional compensation of up to ₹1 lakh will be provided to the complainant for the loss of the complainant’s time, expenses incurred and for harassment/mental anguish suffered by the complainant
- There is no limit on the amount involved in the dispute that can be addressed by the ombudsman
The Ministry of Defence signed MoUs with which 4 banks to onboard them as SPARSH (System for Pension Administration Raksha) service centres?
– Bank of India
- Central Bank of India
- Canara Bank
- Utkarsh Small Finance Bank
The scheme guidelines launched to implement green hydrogen in the steel sector under the National Green Hydrogen mission. What is the outlay for the same and which entity will implement it in the steel sector?
What is the outlay and tenure for implementation of the green hydrogen in the shipping sector?
** - Outlay for implementation of the scheme in the steel sector is ₹455 crore till FY2029-30
- The scheme will be implemented by Mecon Ltd in the steel sector.
Three Thrust Areas under the Scheme for using Hydrogen in the Steel Sector are:
Scheme-A: Pilot project to produce Direct Reduced Iron (DRI) using only hydrogen in a vertical shaft furnace.
Scheme-B: Use of Hydrogen in Blast Furnace.
Scheme-C: Injection of Hydrogen in DRI-making unit.
** Outlay for the implementation of the scheme in the Shipping sector is ₹115 crore till FY2025-26
7 Startups in technical textile were approved under the GREAT scheme. What is the GREAT scheme and what is funding support provided to startups under the scheme?
The National Technical Textiles Mission (NTTM) has approved a grant of approximately ₹____ to IIT Guwahati for introducing geotextiles in the Civil Engineering Curriculum?
** - The GREAT scheme aims to foster innovation in the technical textile sector by leveraging startups for R&D and commercialization of new products and technologies in the technical textiles sector.
- Under the GREAT scheme, the Ministry of Textiles provides grant-in-aid funding of up to ₹50 lakh per startup
** ₹6.4 lakhs
What is the outlay of the Viability Gap Funding (VGF) scheme for offshore wind energy approved by the MNRE, and how is the funding divided?
Power excavation infrastructure, including the offshore substations, will be constructed by which entity?
It aims to support the development of initial ___GW of offshore wind energy at an investment of about ₹______?
** The outlay of the scheme is ₹7453 crore, which includes:
- ₹6853 crore for installation of 1 Gw of Osshore Wind energy, 500 Mw each off the coasts of Gujarat and Tamil Nadu
- ₹600 crore for the upgradation of two ports to meet the logistics requirements for offshore wind energy projects
**Power Grid Corporation of India Ltd (PGCIL)
** It aims to support the development of an initial 37 GW of offshore wind energy in India at an investment of about ₹450,000 crore.
What is the “Krishi Sakhi Convergence Programme ” and as of date how many Krishi Sakhis have been certified as Para-Extension Workers?
As of June, the Krishi Sakhi Training programme has been rolled out in how many states?
Currently, ____Krishi Sakhis are working as a Local Resource Person under the Mission Organic Value Chain Development for the North Eastern Region?
The Krishi Sakhi programme aims to create how many “Lakhpati Didis” by 2024?
** - The Krishi Sakhi Convergence Program (KSCP) is a transformative initiative by the Government of India. It empowers rural women by transforming them into Para-extension Workers by imparting them with training and certification of Krishi Sakhis.
- It provides training related to agro-ecological practices, soil health, livestock management, and integrated farming systems. After certification, they can engage in activities related to soil health, crop demonstrations, crop insurance, and horticulture awareness.
- As of date 34,000 Krishi Sakhis out of 70,000 have been certified as Para Extension Workers
** The Krishi Sakhi Training Program has been rolled out in 12 states in Phase – 1 which include Gujarat, Tamil Nadu, Uttar Pradesh, Madhya Pradesh, Chhattisgarh, Karnataka, Maharashtra, Rajasthan, Odisha, Jharkhand, Andhra Pradesh, and Meghalaya
** Currently, 30 KSs are working as Local Resource Persons under the Mission Organic Value Chain Development for the North Eastern Region and getting INR 4500 per month.
** The program aims to create 3 crore ‘Lakhpati Didis’ by 2024
What is the outlay and tenure of the National Forensics Infrastructure Enhancement Scheme (NFIES) approved by the union cabinet in June?
What are the objectives of the scheme?
** Tenure- 2024-25 to 2028-29
Outlay- ₹2254 crore
** Objectives
- To Strengthen the criminal forensic infrastructure to aid an efficient criminal justice system.
- to address the shortage of trained forensic manpower, reduce caseload, and align with the goal of achieving a high conviction rate of more than 90%
Components:
- Establishment of 9 off-Campuses of the National Forensic Sciences University (NFSU) in the country.
- Establishment of 7 Central Forensic Science Laboratories in the country.
- Enhancement of existing infrastructure at the Delhi Campus of the NFSU.
The Prime Minister launched the Competitiveness Improvement in Agriculture & Allied Sectors (JKCIP) Project for Jammu and Kashmir with an outlay of ₹_____?
Outlay- ₹1800 crore. The project will be implemented in 90 Blocks across 20 districts of J&K and will have the project outreach of 300,000 households covering 15 lakh beneficiaries.
During the India International Garment Fair held at New Delhi, Union Textiles Minister Giriraj Singh announced that the Production Linked Incentive (PLI) scheme will be expanded to the garment sector with a funding allocation of ₹_____?
₹10000 crore
What is the name of the campaign launched by the Ministry of Housing & Urban Affairs in June to enhance the preparedness of ULBs to handle challenges associated with cleanliness and diseases during monsoon season?
“Safai Apnao, Bimari Bhagao” campaign was launched under the Swachh Bharat Mission Urban 2.0
What norms were proposed by the RBI in June for export and import transactions to facilitate ease of doing business for exporters and Primary dealer banks?
- According to draft norms, every exporter should furnish a declaration specifying the amount of the full export value of the goods or services.
- The amount representing the full export value of goods and services shall be realised and repatriated to India within 9 months from the date of shipment for goods and date of invoice for services
These changes aim to promote ease of doing business, especially for small exporters and importers, while empowering Authorized Dealer banks to provide quicker and more efficient services to foreign exchange customers.
The Union Minister of MSME Jitan Ram Manji dedicated which two initiatives to the MSME in June?
MSME Team initiative- It aims to facilitate 5 lakh micro and small enterprises for onboarding on to the ONDC platform by providing financial assistance for onboarding, cataloguing, account management, logistics, packaging material and design.
Yashasvini Campaign- It is a series of mass awareness campaign to empower women-owned informal micro enterprises. It will provide capacity building, training, handholding and mentorship to the women owned enterprises.
The Ministry of Housing & Urban Affairs approved proposals worth ₹____ for West Bengal under the Swachh Bharat Mission Urban 2.0 (SBM-U 2.0)?
The SBM-U 2.0 mission target to have waste processing plants in all cities of the State by ______?
** ₹860 crore
** by 2026
the Employees’ Pension Scheme (EPS), 1995 was amended to ensure that EPS members with less than ____ months of contributory service also receive withdrawal benefits?
Less than 6 months.
Table D was amended and withdrawal benefits under the EPS will now depend on the number of completed months of service by the employee
According to the RBI’s revised guidelines for custodian banks regarding the issuance of IPCs (Irrevocable Payment Commitments) for implementation of the T+1 settlement for stocks, The maximum intraday risk faced by custodian banks issuing IPCs is considered as CME (Capital Market Exposure) at ___% of the total settlement amount?
What are the eligibility criteria for the same?
** Custodian banks issuing IPCs will face a maximum intraday risk equivalent to 30% of the settlement amount, classified as capital market exposure (CME). This risk limit is based on the assumption of a 20% downward price movement of equities on T+1, with an additional 10% margin allocated for further potential downward price shifts.
** The issuance of IPCs by custodian banks is restricted to those with agreements granting them an inalienable right over securities for payout upon settlement. However, this clause is waived for pre-funded transactions, requiring clear rupee funds in the customer’s account or credit to the bank’s nostro account in foreign exchange deals before IPC issuance.
Irrevocable Payment Commitments (IPCs) :
IPCs are commitments made by custodian banks on behalf of their clients (typically institutional investors) to pay a specified amount of money for securities that their clients have agreed to purchase. These commitments are irrevocable, meaning that once issued, they cannot be withdrawn or cancelled by the custodian bank or the client.
The primary purpose of IPCs is to guarantee payment for securities in capital market transactions, providing assurance to issuers and underwriters that funds will be available when the securities are delivered. This assurance facilitates the smooth execution of transactions and mitigates the risk of payment default
Answer the following based on the Master Directions on “Margining for Non-Centrally Cleared OTC Derivatives”, released by the RBI in June-
A) Which entities will be classified as the Domestic Covered Entities for the exchange of Variation Margin (VM)?
B) Which entities will be classified as Foreign entities for the exchange of variation margin?
C) Which entities are classified as Domestic and Foreign entities for the exchange of Initial Margin?
D) Initial Margin must be recalculated at least every ___ working days to ensure that the collateral requirements remain adequate to cover potential risks?
E) A threshold amount for Initial Margin exchange cannot exceed ₹_____?
F) A Minimum Transfer Amount (MTA) for the exchange of both Variation Margin and Initial Margin combined cannot exceed ₹______?
A) - Entities regulated by a financial sector regulator (including branches of foreign banks operating in India) and having an Average Aggregate Notional Amount (AANA) of outstanding NCCDs (Non-Centrally Cleared Derivatives) of ₹25,000 crore and above, on a consolidated group-wide basis.
- Other resident entities having an AANA of outstanding NCCDs of ₹60,000 crore and above, on a consolidated group-wide basis.
B) - Non-resident financial entities having an AANA of outstanding NCCDs of USD 3 billion and above, on a consolidated group-wide basis.
- Other non-resident entities having an AANA of outstanding NCCDs of USD 8 billion and above, on a consolidated group-wide basis.
Variation margin is a variable collateral payment made by clearing members, such as futures brokers, to their respective clearing houses. It is based on adverse price movements of the futures contracts these members hold. When trading futures or other derivatives, this margin helps maintain adequate risk management. It functions as a type of collateral in derivatives trading. Variation Margin shall be exchanged on an aggregate net basis.
C) – Domestic entities- - Entities regulated by a financial sector regulator (including branches of foreign banks operating in India) and having an Average Aggregate Notional Amount (AANA) of outstanding NCCDs of ₹60,000 crore and above
Initial Margin is a collateral which is collected when entering into a derivatives contract. Unlike the Variation margin which is adjusted daily, the Initial Margin remains constant throughout the derivatives contract. Initial Margin shall be exchanged on a gross basis without any netting of Initial Margin amounts owed by the two counterparties
Foreign entities- Non-resident financial entities having an AANA of outstanding NCCDs of USD 8 billion and above
The provisions of these Directions shall not be applicable to an NCCD transaction in which one of the counterparties is any of the following entities:
- Government of India and State Governments;
- A Foreign Sovereign
- A Central Bank
- Bank for International Settlements
- Multilateral Development Banks (MDBs)
D) 10 days
E) ₹450 crore
F) ₹450 crore
Answer as per the Draft Prudential Framework for Income Recognition, Asset Classification and Provisioning pertaining to Advances - Projects Under Implementation, Directions, 2024-
A) The draft provides a harmonized prudential framework for financing projects in which sectors?
B) What are the exposure limits in Consortium Arrangements of loans?
C) The repayment tenor, including any moratorium, should not exceed ___% of the project’s economic life?
D) What are the criteria for funding the cost overrun?
E) If a resolution plan involving a change in DCCO (Date of Commencement of Commercial Operations) is not implemented within ____ days from the end of the review period, the account shall be downgraded to a non-performing asset (NPA)?
F) What are the provisions for Standard Assets (maintaining financial reserves to cover potential risks associated with project finance loans)?
A) It provides the framework for financing projects in the Infrastructure, Non-Infrastructure and Commercial Real Estate (CRE) sectors, in three phases which are the Design phase, Construction phase and Operational phase.
B) - Individual lender exposure should be less than 10% for aggregate lender exposure up to ₹1500 crore
- Individual lender exposure should be 5% or ₹150 crores, whichever is higher for aggregate lender exposure above ₹1500 crore
Consortium Arrangements refer to the collaboration of multiple lenders to finance large-scale projects. These arrangements help distribute the risk among several financial institutions and ensure adequate funding for significant and complex projects.
C) 85%
D) With pre-sanctioned standby credit facilities, lenders can fund cost overruns up to 10% of the original project cost. Additional funding without pre-sanctioned facilities will be priced at a premium, with a minimum additional risk premium of 1%.
Funding Cost Overruns refer to the provision of additional financing to cover expenses that exceed the initially budgeted costs of a project during its construction phase. This ensures that projects can be completed despite unforeseen expenses.
E) Within 180 days
F) Lenders must maintain a general provision of 5% of the funded outstanding during the construction phase. This can be reduced to 2.5% once the project reaches the operational phase and further reduced to 1% if certain conditions are met.
Provisioning for Standard Assets involves maintaining financial reserves to cover potential risks associated with project finance loans.
What is The Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) scheme, what are its 3 components and what are the challenges associated with this scheme?
The Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) is an umbrella scheme introduced by the Indian government to ensure a Minimum Support Price (MSP) for farmers. Here are the key components of PM-AASHA:
Price Support Scheme (PSS): Under this component, central nodal agencies procure pulses, oilseeds, and copra, with active involvement from state governments. The Food Corporation of India (FCI) and the National Agricultural Cooperative Marketing Federation of India (NAFED) play a crucial role in implementing the scheme. The central government bears the procurement expenses and losses.
Price Deficiency Payment Scheme (PDPS): In PDPS, the state compensates farmers for the difference between mandi prices and MSP. All oilseeds fall under this scheme. Unlike physical procurement, this approach focuses on direct payments to farmers.
Private Procurement & Stockist Scheme (PPPS): In select pilot districts, private agencies collaborate with the government to procure oilseeds. When market prices fall below MSP, authorized private agencies purchase commodities from registered farmers.
Issues Associated with the Scheme:
The existing procurement infrastructure primarily supports wheat and rice, leaving other crops underserved.
Awareness about MSP remains low among farmers, hindering effective implementation
Which bank was excluded from the 2nd Schedule of the RBI Act, 1934 with effect from 1 April 2024?
To be included in the 2nd Schedule, a bank must have a paid-up capital and reserves of an aggregate value of not less than ₹_____?
** Fincare Small Finance Bank
** ₹5 lakh
Answer the following based on the RBI’s report “Finances of Foreign Direct Investment Companies 2022-23”-
A) Total Paid-Up Capital (PUC) of Non-Bank Non-Financial Foreign Direct Investment companies was ₹_______, accounting for ___% of the PUC of all FDI companies that reported in the 2022-23 round of the Reserve Bank’s annual census on foreign liabilities and assets of Indian direct investment companies?
B) Nearly half of the sample FDI companies received direct investments from which three countries?
C) Net sales of the sample FDI companies rose by __% on top of ____% growth in the previous year?
D) What was the growth of raw material expenses and Operating expenses of the FDI companies?
The employee remuneration outlay increased by what per cent for sample companies?
E) Operating profit and Post-Tax profit of sample companies rose to what per cent respectively?
Net profit Margin of sample companies rose to what per cent in 2022-23?
F) What was the Debt-to-Equity ratio of sample FDI companies in 2022-23?
G) External sources accounted for ___% of additional funding of the sample FDI companies during 2022-23?
A) ₹5,44,014 crore, which accounted for 56.9% of the total PUC of FDI companies that had reported in the 2022-23 round
B) - Nearly half of the sample companies received direct investment from Singapore, Mauritius, and the US
- Japan, the Netherlands and the United Kingdom were other major FDI source countries.
- A major chunk of the sample companies belonged to the manufacturing, information and communication sectors.
C) net sales of the sample companies rose by 21.1% on top of 28.6% growth in the previous year.
D) ** Both raw material expenses and Operating expenses grew at the rate of 20.7% during 2022-23
** The employee remuneration outlay increased in sync with rising business activities. The manpower-intensive services sector recorded a higher rise of 24.3% in employee remuneration compared to a 13.1% rise for the manufacturing sector
E) ** Operating profits and post-tax profits rose by 17.5% and 45.2%, respectively.
** Net profit margin improved to 5.9% in 2022-23 from 4.9% the previous year
F) Leverage (measured in terms of debt-to-equity ratio) of the sample FDI companies continued to decline and stood at 39.9% during 2022-23. It stood at 19.3% for manufacturing companies and 54.1% for services firms.
G) External sources accounted for 52.7% of additional funding of the sample FDI companies during 2022-23 and 56% of the fresh funds were utilised in gross capital formation
What is the full form of the PRAVAAH portal launched by the RBI?
RBI launched the mobile application for the RBI’s Retail Direct Scheme, to transact in G-secs. When was the RBI’s Retail Direct portal launched?
** - The PRAVAAH (Platform for Regulatory Application, Validation and Authorization) portal is a secure and centralised web-based portal for any individual or entity to seek authorisation, license or regulatory approval on any reference made by it to the Reserve Bank.
- At present, 60 application forms covering different regulatory and supervisory departments of RBI have been made available on the portal. This also includes a general-purpose form for applicants to submit their requests which are not included in any other application form.
** The retail direct portal was launched in November 2021 to facilitate retail investors to open their Retail Direct Gilt accounts with the Reserve Bank of India under the Retail Direct Scheme. The scheme allows retail investors to buy G-Secs in the primary auctions as well as buy and sell G-Secs in the secondary market.
The Fintech Repository and EM-Tech Repository launched by the RBI in May are managed by which subsidiary of the RBI, and what type of data will be available in both repositories?
- They are managed by the Reserve Bank Innovation Hub (RBIH). The FinTech Repository encourages both licensed and unregulated fintechs to contribute data, providing aggregate sectoral information, trends, and analytics. Meanwhile, the EmTech Repository focuses exclusively on RBI-regulated entities.
- The FinTech Repository provides aggregate sectoral data, trends, and analytics related to fintech companies whereas
- The EmTech Repository focuses on the adoption of emerging technologies by RBI-regulated entities. It will provide Insights into the use of technologies like AI, ML, Cloud Computing, DLT, and Quantum Computing. It will provide aggregated data and trends related to technology adoption, helping policymakers and industry members make informed decisions.
What are the requirements for the Self Regulatory Organisations (SRO) in the Fintech sector, finalized by the RBI in May 2024?
1.- Be set up as a not-for-profit company registered under Section 8 of the Companies Act, 2013.
- Have diversified shareholding (i.e. No entity should hold 10% or more of its paid-up share capital, either singly or acting in concert).
- Explicitly state the operation as an SRO-FT as its primary objective in its Memorandum of Association (MoA).
- Minimum Net worth ₹2 crores to be achieved within one year after recognition by RBI or before commencement of operations, whichever is earlier
- At least one-third of members of the Board, including the chairperson, should be independent, and without any active association with a FinTech entity. Further, the majority of non-independent directors are to be representative of FinTechs that are currently not directly regulated
What was the change in the definition of bulk deposits for all Scheduled Commercial Banks (excluding RRBs) and Small Finance Banks?
– Single rupee term deposit of ₹3 crore or more for Scheduled Commercial banks, excluding RRBs and Small finance banks
- A single rupee term deposit of ₹1 crore and more is the definition of bulk deposit for local area banks as applicable in the case of Regional Rural Banks.
The Exim bank approved a Line of Credit (LoC) of what amount and to which nation in May 2024 for the procurement of two “Hindustan 228-201 aircraft” from Hindustan Aeronautics Ltd?
What are the procurement conditions out of the total credit by the Exim bank?
** The Line of Credit (LoC) was approved to Guyana for USD 23.37 million
** At least 75% of the contract price for goods, works, and services must be supplied by the seller from India. The remaining 25% of goods and services may be procured by the seller from outside India for the purpose of the eligible contract.
As per new amendments, To provide operational flexibility, AD Category-I banks maintaining Special Rupee Vostro Accounts can now open an additional special current account for their constituents for settling both export and import transactions, earlier it was exclusively for the settlement of export transactions. What are the key differences between Nostro and Vostro accounts?
Nostro Account: A domestic bank’s account in a foreign bank, holding foreign currency. It is used by the domestic bank to facilitate international transactions and manage foreign currency.
Vostro Account: A foreign bank’s account in the domestic bank, holding the domestic currency. It is used by foreign banks to facilitate transactions in the domestic currency and manage their operations in the domestic market.
According to new amendments, what are the new weightings assigned to districts based on their high or low-priority sector lending?
- A weightage of 125% will be assigned to Districts with Per Capita PSL less than ₹9000. Thus it will cover the districts where the credit flow is relatively lower.
- A Weightage of 90% will be assigned to districts with Per Capita PSL of more than ₹42000. Thus it will cover the districts where the credit flow is relatively higher.
These new weights are applicable from FY2025 to FY2026
What are the new criteria for the definition of MSMEs?
1) Microenterprise: Investment in plant and machinery or equipment up to ₹1 crore and turnover up to ₹5 crore
2) Small enterprise: Investment in plant and machinery or equipment up to ₹10 crore and turnover does up to ₹50 crore
3) Medium enterprise: investment in plant and machinery or equipment up to ₹50 crore and turnover up to ₹250 crore
What are the two themes and problem statements of the RBI’s Global hackathon “Harbinger 2024- Innovation for Transformation”?
- Theme 1: “Zero Financial Frauds”
1) Real-time prediction, detection and prevention of frauds in financial transactions using alternate sources of data including publicly available information.
2) Ensuring transaction anonymity in token-based (CBDC) transactions while maintaining financial system integrity.
3) Identifying mule bank accounts/ payment wallets.
Theme 2: “Being Divyang Friendly”
4) Accurately identifying banknotes by the visually impaired.
The winner across each problem statement will receive ₹40 lakh
What was the theme of the 4th Cohort of the RBI’s Regulatory Sandbox, came to an end in May 2024?
‘Prevention and Mitigation of Financial Frauds’
What were the increases in foreign exchange reserves during 2022-23 on a Balance of Payment basis and Nominal terms respectively?
What was the increase in the valuation gain of these foreign exchange reserves during 2022-23?
** - On a balance of payments basis (i.e., excluding valuation effects), foreign exchange reserves increased by US$ 63.7 billion during 2023-24 as against a depletion of US$ 9.1 billion during 2022-23. Foreign exchange reserves in nominal terms (including valuation effects) increased by US$ 68.0 billion during 2023-24 as against a decrease of US$ 28.9 billion in the preceding year.
- The valuation gain, primarily reflecting the rise in gold price, amounted to US$ 4.3 billion during 2023-24 as against a valuation loss of US$ 19.7 billion during 2022-23.
Answer the following based on India’s External Debt data at the end of March 2024-
A) What was the value of India’s external debt at the end of March 2024?
What was the value of long-term debt at the end of March 2024?
The share of short-term debt in total external debt declined to ____% in end-March 2024?
Short-term debt on a residual maturity basis, which includes both long-term debt by original maturity falling due within the next twelve months and short-term debt by original maturity constituted ___% of India’s total external debt and ___% of foreign exchange reserves?
B) India’s external debt to GDP ratio declined to ____% at the end of March 2024 from ___% in end-March 2023?
C) Valuation effect due to the appreciation of the US dollar vis-à-vis the Indian rupee and other major currencies such as the yen, the euro and SDR amounted to USD______?
D) What was the percentage share of external debt of various denominations respectively?
E) What was the percentage share of external debt based on various corporations respectively?
F) Loans remained the largest component of external debt, with a share of __%, followed by currency and deposits ___%, trade credit and advances ___%and debt securities ____%?
g) Debt service (i.e., principal repayments and interest payments) increased to __% of current receipts at end-March 2024 from ___% at end-March 2023, reflecting higher debt service?
A)** It was US$ 663.8 billion, an increase of US$ 39.7 billion over its level at the end of March 2023.
** Long-term debt (with an original maturity of above one year) was placed at US$ 541.2 billion, recording an increase of US$ 45.6 billion over its level at the end of March 2023.
** It declined to 18.5% from 20.6% at March-end 2023. Similarly, the ratio of short-term debt to foreign exchange reserves declined to 19.0% at end-March 2024
** It constituted 42.9% of the total external debt at March-end 2024 and 44.1% of foreign exchange reserves
B) The external debt to GDP ratio declined to 18.7% at the end of March 2024 from 19.0% at the end of March 2023.
C) It amounted to amounted to US$ 8.7 billion. Excluding the valuation effect, external debt would have increased by US$ 48.4 billion instead of US$ 39.7 billion at end-March 2024
D) USD: 53.8%
Indian Rupee: 31.5%
Yen: 5.8%
SDR: 5.4%
Euro: 2.8%
E) Non-financial corporations: 37.4%
Deposit-Taking corporations: 28.1%
General Government: 22.4%
Other financial corporations: 7.3%
F) Loans: 33.4%
Currency & Deposits: 23.3%
Trade credit & Advances: 17.9%
Debt securities: 17.3%
G) It increased to 6.7% from 5.3%
A) The net claims of non-residents declined by USD_____on the back of the higher rise in India’s external financial assets of USD______vis-a-vis external financial liabilities of USD____?
B) Reserve assets accounted for ___% of the increase in total overseas financial assets of residents?
C) Inward portfolio and direct investments as well as loans accounted for over ____ of the rise in foreign liabilities?
D) The ratio of India’s international financial assets to international financial liabilities increased to ___% in March 2024 from __% a year ago?
E) The ratio of Net Claims of Non-residents in India to GDP improved to what per cent in March 2024?
A) The net claims of non-residents declined by USD 5.5 billion on the back of the higher rise in India’s external financial assets of USD 109.8 vis-a-vis external financial liabilities of USD 104.3 billion.
Net Claims = External Financial Assets – External Financial Liabilities
B) 62%
C) over 3/4th of the rise in foreign liabilities
D) It increased to 74% in March 2024 from 71.4% a year ago
E) - The ratio of net claims of non-residents in India to GDP improved to (-)10.3% in March 2024 from (-)11.3% a year ago, and (-)11.6% two years ago.
- A negative ratio means that non-residents hold more financial assets in India than India holds in financial liabilities. In other words, non-residents have a net investment in India.
What is the corpus of the separate “INR Swap window”, which was created for Swap support in Indian Rupees under the SAARC Currency Swap framework?
What is the corpus of the Swap window for Swap arrangements in USD and Euros?
** USD 250 billion
** 2 billion USD
The RBI revised the WMA (Ways and Means Advance) limit for States/UTs to ₹______from ₹_______, effective from July 2024?
Which are the top 3 and bottom 3 States/UTs respectively in terms of WMA?
What is the maximum SDF (Special Drawing Facility) limit for States/UTs against Consolidated Sinking Fund (CSF) and Guarantee Redemption Fund (GRF)?
** The WMA limit was increased to ₹60,118 crore from ₹47,010 crore
** Top 3 States/UTs WMA limits: UP (Rs 6519 cr) > MAH (Rs 6139 cr) > TN (Rs 4582 cr)
Bottom 3 States/UTs WMA limits: Puducherry (Rs 175 cr) < Mizoram (Rs 216 cr) < Goa (Rs 258 cr)
** - The maximum SDF limit for States/UTs against CSF/GRF investments will be 50% of the lower of:
a) The outstanding balance of the funds as of the last date of the second preceding quarter.
b) The current balance held in CSF/GRF.
- For ATB (Auction Treasury Bills) investments, the maximum SDF limit will be 50% of the lower of:
a) The outstanding balance in ATBs (91/182/364 days) as of the last date of the second preceding quarter.
b) The current ATB balance.
The rate of interest on the Government of India Floating Rate Bond 2031 (FRB 2031) applicable for the half year June 07, 2024, to December 06, 2024 shall be ___% per annum?
** 7.98%
FRB 2031 carries a coupon, which has a base rate equivalent to the average of the Weighted Average Yield of the last three auctions (from the rate fixing day i.e. June 07, 2024) of 182 Day T-Bills, plus a fixed spread of One per cent
Answer the following based on the commemoration of the 9th Aniversary of 3 landmark initiatives i.e AMRUT, PMAY-U and Smart Cities mission launched in June 2015-
A) How many projects were implemented under AMRUT 2.0 and with what budget?
B) As of June 2024, ___ houses have been grounded for construction while more than _____houses have already been completed and delivered to beneficiaries, under PMAY-U?
As of June 2024, out of committed Central Assistance of ₹____, ₹_____ has been released under PMAY-U?
Under the Credit Linked Subsidy Scheme (CLSS) for EWS/LIG/MIG, an Interest subsidy of ₹ _______has been approved for _____beneficiaries, under PMAY-U?
Over ____houses have been provided under the name of women, thus giving them an identity of their own?
How many jobs were created under the PMAY-U?
C) The Smart Cities Mission aims to enhance the quality of life in how many cities and with what outlay?
As of June 2024, How many projects have been completed under the Smart Cities Mission?
How much funds have the government released under the mission and how much is utilized?
A) Total Projects implemented: 8200, Total Project Cost: ₹182,583.07 Crores
Sector-wise Breakdown:
- Water Supply: 3530 projects, ₹112,530.1 Crores
- Sewerage and Septage Management: 562 projects, ₹63,790.57 Crores
- Water Body Rejuvenation: 2709 projects, ₹5420.5 Crores
- Parks Development: 1399 projects, ₹841.91 Crores
B) ** As of date, 114 Lakh houses have been grounded for construction while more than 84 Lakh houses have already been completed and delivered to beneficiaries.
** Out of the committed central assistance of ₹2 lakh crore, ₹1.64 lakh crore is released
** - Under CLSS for EWS/LIG/MIG, an Interest subsidy of ₹ 58,868 crore has been approved for 25.04 lakh beneficiaries
- The Middle Income Group (MIG) was also added to a government housing scheme for the first time ever through the Credit Linked Subsidy Scheme (CLSS) vertical from 2017-2021
** Over 94 lakh houses
** 323 Lakh jobs created in total, where 100 Lakh are direct and 223 Lakh are indirect.
C) ** It aims to enhance the quality of life in 100 cities through over 8,000 innovative projects worth approximately ₹1.6 lakh crore.
** As of date, 7,160 projects worth ₹ 1,43,778 Crore have been completed and another 854 projects worth ₹ 20,392 crore are in advanced stages of completion.
** GOI has released ₹46,387 crore to 100 cities and 93% of released GOI funds have been utilized.
Which ministry launched the NIRMAN initiative to provide financial assistance to youth who have qualified for the preliminary round of the UPSC Civil Services Examination 2024?
What is the full form of NIRMAN and what financial initiative will be provided under this scheme?
** Ministry of Coal & Mines launched the NIRMAN portal
** - The scheme will provide financial support of ₹1 lakh to the Preliminary examination qualified candidates with annual family income less than ₹8 lakhs and belonging to Scheduled Caste, Scheduled Tribe, female or third gender; who are permanent residents of any of the 39 operational districts of CIL.
- Noble Initiative for Rewarding Mains Aspirants of National Civil Services Examination (NIRMAN)
The Smart Cities Mission was extended till ______?
As of 03rd July 2024, the 100 Cities have completed ______ amounting to ₹_____as part of the Mission?
** Till March 2025
** As of 03rd July 2024, the 100 Cities have completed 7,188 projects (90% of total projects) amounting to ₹ 1,44,237 crore as part of the Mission. The balance of 830 projects amounting to ₹ 19,926 crore are also in advanced stages of completion.
Answer the following based on the Scheme Guidelines launched for funding of testing facilities, infrastructure, and institutional support for development of Standards and Regulatory framework under the NGHM (National Green Hydrogen Mission)-
A) What is the budget and tenure of the scheme?
B) What funding support will provided for Government and Non-Government entities under the scheme?
C) The scheme will be implemented by which entity?
D) Projects for setting up new testing & certification facilities shall be completed in ___ months from the date of sanction by MNRE?
E) Projects for the upgradation of existing testing & certification facilities shall be completed in ___ months from the date of sanction by MNRE?
A) Budget: ₹200 crore, Tenure- till FY2025-26
B) - For Government entities, MNRE will fund up to 100% of the capital cost for equipment, installation, and commissioning of the equipment.
- For Non-Government entities, MNRE will fund up to 70% of the capital cost for testing equipment, installation, and commissioning of the equipment.
Stages of Disbursement of CFA (Central Financial Assistance):
1st Installment On Selection: 20% of the CFA
2nd Installment On Milestone basis: 70% of the CFA
3rd Installment on Completion: 10% of the CFA
C) It will be implemented by the National Institute of Solar Energy (eligible for service charges at 0.5% of the financial support utilized for the projects sanctioned under the Scheme)
D) 18 months
E) 12 months
What is the budget and tenure of the PLI scheme for White Goods (Acs and LeD lights) launched in July?
An incentive of __% to ___% on incremental sales of goods manufactured in India for a period of five years to companies engaged in manufacturing of Air Conditioners and LED Lights will be provided under the scheme?
** Budget- ₹6238 crore, Tenure- FY2021-22 to FY2028-29
** 4% to 6% on incremental sales of goods manufactured in India for a period of five years
It is estimated that over the period of five years, the PLI Scheme will lead to incremental investment of Rs. 7,920 Crore, incremental Production worth Rs. 1,68,000 Crore, exports worth Rs 64,400 Crore, direct and indirect revenues of Rs 49,300 crore and create additional four lakh direct and indirect employment opportunities.
Which ministry launched the GAINS scheme and why?
The Ministry of Defence launched “The GRSE Accelerated Innovation Nurturing Scheme (GAINS 2024) of Garden Reach Shipbuilders & Engineers Limited (GRSE) in Kolkata. It seeks solutions to the problems related to the shipyards and promotes technology development using the start-ups created and nurtured in the country.
Answer the following based on the success of the PLI scheme for Telecom and Networking Products within 3 years of implementation-
A) The telecom equipment manufacturing sales crossed ₹_____?
Sales of Telecom & Networking Products by PLI beneficiary companies in FY 2023-24 increased by ____% compared to the Base Year (FY 2019-20)?
B) What was the value of Telecom equipment exports and imports respectively?
C) What was the value of Mobile phones export and import respectively in 2023-24?
D) The PLI scheme has significantly reduced the country’s reliance on imported telecom equipment, resulting in import substitution of ____%?
A) ** ₹50000 crore
** 370%
B) Exports: 1.49 lakh crore
Imports: 1.53 lakh crore
C) - Mobile phone exports increased to ₹1,28,982 crore
- Mobile phone imports decreased to ₹7665 crore
D) 60%
What are the objectives and outlay of the sub-scheme “MSE-GIFT” under the RAMP scheme?
What are the objectives and outlay of the sub-scheme “MSE-SPICE” under the RAMP scheme?
What is the MSME-Team initiative launched on 27 June 2024 till 2027?
** MSE GIFT (Green Investment and Financing for Transformation)-
Objective: The scheme will provide support to the MSEs in accessing institutional finance at a concessional rate for adopting clean/green technologies and help them transform into green and sustainable business operations.
Outlay:
Total Outlay:
- Rs.478 crore for 3 years (2023-24 to 2025-26)
- Interest Subvention outlay of Rs.350 crore
- Risk sharing fund of Rs.125 crores
- Information Education and Communication (IEC) component of
Rs.3 crores.
** MSE SPICE (Scheme for Promotion and Investment in Circular Economy)-
Objectives:
The scheme will support MSEs engaged in circular economy projects.
Outlay:
- Total outlay: Rs.472.50 Crore for 4 years for 2023-24 to 2026-27.
- Credit Linked Capital Subsidy of Rs.450 Crore
- Awareness Generation and Demand Creation of Rs.15 crores
-Information Education and Communication (IEC) component of
Rs.7.50 crores
Eligible MSEs are eligible for a 25% capital subsidy on the cost of
plant and machinery up to ₹12.5 lakh per MSE
** - The MSME TEAM (Trade Enablement and Marketing Initiative) aims at assisting five lakh MSMEs (half would be women-owned MSEs) to onboard the Open Network Digital Commerce (ONDC) platform, through awareness workshops which will include hand-holding assistance for onboarding onto the ONDC.
- It aims to provide financial assistance to micro and small enterprises (MSEs) through Seller Network Participants, for catalogue preparation, account management, logistics and packaging material and design.
- The objective of the MSME-TEAM Initiative is to provide assistance to micro and small enterprises all across the country. However, awareness workshops will be conducted preferably in Tier 2 and Tier 3 cities and MSME Clusters for greater outreach, especially among women and SC/ST-owned MSMEs.
What was the new CFA revised by the Ministry of New & Renewable Energy (MNRE) for the Non-torrefied and torrefied pellet manufacturing plant respectively under the National Bioenergy Programme (NBP)?
What is the tenure of the National Bioenergy Programme (NBP)?
** Non-Torrefied Pellet Manufacturing Plant:
CFA of Rs. 21.0 lakhs/MTPH production capacity with a maximum of Rs. 105 lakhs per project, whichever is lower
Torrefied Pellet Manufacturing Plant:
- CFA of Rs. 42.0 lakhs/MTPH production capacity with a Maximum of Rs. 210 lakhs per project or 30% of the capital cost considered for plant and machinery of 1 MTPH plant, whichever is lower.
Answer the following based on the guidelines released for the implementation of incentives to Discoms under the “PM-Surya Ghar: Muft Bijli Yojana”-
a) The total Financial Outlay for Incentives to DISCOMS is ₹______ under the PM-Surya Ghar Muft Bijli Yojana?
b) The Incentives to the DISCOMs would be available only for the addition of initial _____MW RTS capacity in the country after 31st March 2019?
c) What incentives will be provided under the scheme according to the installed capacity achieved, and what is the “Applicable Cost” under the scheme?
d) What percentage of incentives received by DISCOMs should be allocated for “Discoms Officials & Functionaries” and “Utilization at the Division and Subdivisional level” respectively?
a) ₹4950 crore
b) 18000 Mw of RTS capacity
c) - For installed capacity above 10% & up to 15%, over and above the installed base capacity: 5% of the applicable cost for capacity achieved above 10% of the installed base capacity
- For installed capacity above 15% over and above the installed base capacity: 5% of the applicable cost for capacity achieved above 10% and up to 15% of the installed base capacity + 10% of the applicable cost for capacity achieved beyond 15% of the installed base capacity
Applicable Cost: It is the benchmark cost for RTS Capacity of 1 Kw, which is ₹50000 for General States and ₹55000 for special category states
d)- The DISCOMs shall allocate 10% of the incentives received (up to Rs. 1 crore) for a rewards system for DISCOM officials and functionaries.
- The DISCOM shall allocate at least 50 % of the incentives (up to Rs 1 crore of allocation per division) for dedicated utilization at the division and subdivisional level.
What are the eligibility criteria for the scheme “Financial Assistance to Veteran Artists” by the Ministry of Culture and what is the maximum Financial assistance provided?
What financial assistance is provided by the Ministry of Culture under “FINANCIAL ASSISTANCE FOR PROMOTION OF GURU-SHISHYA PARAMPARA (REPERTORY GRANT)”?
** - Eligibility: Veteran artists aged 60 years and above having annual income not exceeding Rs. 72,000/
- Maximum Financial Assistance: Rs.6,000/- per month.
** - Support is provided to 1 Guru and a maximum of 18 Shishyas in the field of theatre and 1 Guru and a maximum of 10 Shishyas in the field of music & dance.
- The Amount of Assistance for Guru is Rs.15000/- p.m. and for the Shishya, the same is Rs.2000-10000/-p.m depending upon the age of the artist.
What expenditure was incurred from 2014-15 to 2023-24 under the “SHREYAS scheme for SCs” and the “Shreyas scheme for OBCs and EBCs” respectively?
What benefits are provided to SCs under the SHREYAS scheme for SCs?
** - An expenditure of Rs. 2708.64 crore has been incurred for 97,928 beneficiaries for SC (Scheduled Castes)
- An expenditure of Rs. 585.02 crore has been incurred for 38,011 beneficiaries for OBCs and EBCs
** - Scholarship is provided to SC students for study in 266 top-class Higher Education Institutions in the country, such as IITs/IITs/IIMs/AIIMS etc.
- The scholarship is provided to 125 students every year for study in the top 500 QS Ranking Institutions/ Universities abroad.
- 2000 fellowships are provided every year to SC Students for Ph.D. in India. These 2000 slots are over and above the number of SC students selected under the normal reservation policy of the Government for UGC Fellowships.
- Free Coaching for SCs and OBCs, is being implemented through empanelled Central Universities for 3500 economically disadvantaged Scheduled Castes (SCs) and Other Backward Classes (OBCs) candidates every year with the objective of empowering them to appear in competitive examinations.
The PLI Scheme for Large Scale Electronics Manufacturing has been extended by one year from 2024-25 to 2025-26. As of June 2024, The Cumulative investment reached ₹_____by 32 companies under the PLI Scheme for Large Scale Electronics Manufacturing?
₹8282 crore
What is the outlay of the Yuva Apda Mitra Scheme (YAMS) launched by the Ministry of Home Affairs, It will be implemented in how many disaster-prone districts?
- Total Outlay of the scheme is Rs.470.5 crore from National Disaster Response Fund (NDRF).
- It will be implemented in 315 most disaster-prone districts of the country.
- It will train 1300 trained Aapda Mitra Volunteers as Master Trainers and 2.37 lakh volunteers exclusively from NCC, NSS, NYKS and BS&G (Bharat Scouts &Guides) in disaster preparedness and response. It is in line with the vision of preparing the community as first responders during any disaster.
Answer the following based on the Shipbuilding Financial Assistance Policy-
a) A total of ____ vessel orders encompassing both domestic and export orders have been procured by ___ shipyards since the inception of the scheme, with a total value of approximately ₹_____?
b) Specialized vehicles such as Wind Farm installation vessels and construction of sophisticated dredgers are eligible to receive financial assistance of over and above ₹____ which is the upper limit for non-specialized vessels?
c) Financial assistance of ___% will be provided for vessels where main propulsion is achieved by means of green fuels such as Methanol/ Ammonia / Hydrogen fuel cells?
d) Financial assistance of __% for vessels with electric means of propulsion or vessels fitted with hybrid propulsion system?
a) A total of 313 vessel orders encompassing both domestic and export orders have been procured by 39 shipyards since the inception of the scheme, with a total value of approximately Rs. 10,500 crores.
b) ₹40 crores
c) 30%
d) 20%
_____candidates enrolled and_____trained under Pradhan Mantri Gramin Digital Saksharta Abhiyan?
_____candidates were certified under the scheme?
** Enrolled candidates: 7.35 crore, Trained candidates: 6.39 crore
** 4.78 crore were certified
The Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) is a government initiative aimed at enhancing digital literacy in rural India by training 6 crore rural citizens in digital skills and services in 22 scheduled languages and English. The beneficiaries are provided with 20 hours of training consisting of 5 modules namely:
(i) Introduction to digital devices
(ii) Operating digital devices
(iii) Introduction to the Internet
(iv) Communications using the internet
(v) Application of the internet (includes citizen-centric services) and use of financial tools for undertaking digital cashless transactions.
The government approved the Market Development Assistance (MDA) for what amount to promote organic fertilizers for Manure produced at the plants under the GOBARdhan initiative covering different biogas/CBG support schemes/ programmes of stakeholders Ministries/ Departments?
The Market Development Assistance (MDA) of ₹1500/MT was approved with a total outlay of ₹1,451.84 crore (FY 2023-24 to 2025-26), which includes a corpus of ₹ 360 crore for research gap funding etc
What financial support is provided under the MSME Innovative Scheme (Incubation, Design and Intellectual Property Rights) and when was it launched?
The MSME innovative scheme was launched on 10 March 2022 to promote innovations in the complete value chain from developing ideas into innovative applications through incubation and design interventions.
Financial assistance being provided under the scheme is:
- Incubation: Financial assistance up to Rs. 15 lakh per idea and up to Rs. 1.00 crore for relevant plant and machines will be provided.
- Design: Up to Rs. 40 lakhs for design projects and up to Rs. 2.5 lakh for student projects will be provided.
- Intellectual Property Rights: Upto Rs. 5 lakhs for Foreign Patent, Rs. 1.00 lakh Domestic Patent, Rs. 2.00 lakh for GI Registration, Rs. 15,000/- for Design Registration, Rs.10,000/- for Trademark in the form of reimbursement.
What financial assistance is provided to artists under The Global Engagement Scheme (GES), organised by the Ministry of Culture to promote India’s rich cultural heritage by organising the Festival of India (FOI) which is organised abroad to promote people-to-people connections?
The Folk artists are paid a performance fee:
1- Rs. 35,000/- (to the leader/main artist) and
2 Rs. 7000/- (to the accompanying artist) for each performance in the Festival of India.
Which category of beneficiaries are included under the “National Overseas Scholarship” scheme?
Each year scholarship is provided to _____ candidates and ___% of the scholarships for each year are earmarked for female candidates?
What are the eligibility criteria for the scheme?
** It is a Central Sector Scheme that aims to facilitate the low-income students belonging to the Scheduled Castes, De-notified Nomadic and Semi-Nomadic Tribes, Landless Agricultural Labourers and Traditional Artisans category to obtain higher education such as Master’s degree, Ph. D courses by studying abroad.
** Each year scholarship is provided to 125 candidates and 30% of the scholarships for each year are earmarked for female candidates and 125 seats are distributed in the following way:
- 115 are for Scheduled Castes candidates
- 06 for De-notified, Nomadic and Semi-Nomadic Tribes
- 04 are for Landless Agricultural Labourers candidates and Traditional Artisans
Eligibility Criteria:
- Candidates should have secured at least 60% marks or equivalent
grade in the qualifying examination. - The candidate’s total family income from all sources should be less
than Rs. 8.00 lakh per annum in the preceding financial year. - The candidate should be less than 35 years of age on 1st April of
the selection year. - A candidate must have an unconditional offer of admission from
top 500 QS ranked foreign University as per the latest QS rankings.
What are the objectives, tenure and outlay of the PM-DAKSH Yojana (Pradhan Mantri Dakshta aur Kushalta Sampann Hitgrahi) scheme?
What are the eligibility criteria for the scheme?
** - The scheme’s objective is to enhance the competency level of the different target groups like Scheduled Castes (SCs), Other Backward Classes (OBCs), De-notified Tribes (DNTs), Economically Weaker Sections (EWSs), Safai Mitras including Waste Pickers etc. to make them employable both in self-employment and wage-employment for their socio-economic development.
- Outlay: ₹450 crore, Budgetary Outlay of FY25: Rs.130 Crore.
Tenure: FY2022-FY2026
** OBC and EWS candidates whose annual family income is less than Rs. 3.00 lakh are eligible to get training and No income limit for the candidates belonging to SC/DNT/Safai Mitras including Waste Pickers.
In the FY2023-25, a total of ____persondays were generated under the MGNREGA scheme?
There was a provision of an additional 50 days of wage employment (beyond the stipulated 100 days) for which category?
**309.01 crore person-days were granted in the FY2023-24 under MGNREGA. person-days refer to the total number of days of employment provided to individuals. Essentially, one person equals one day of work for one person.
** It was for every Scheduled Tribe Household in a forest area provided that these households have no other private property except for the land rights provided under the Forest Rights Act (FRA), 2006.
The National Mobile Monitoring System (NMMS) was started in the Financial Year 2021-22 to ensure more transparency in the implementation of the Mahatma Gandhi National Rural Employment Guarantee Scheme. Capturing of attendance with geo-tagged, time-stamped twice-a-day photographs of the workers through the National Mobile Monitoring System (NMMS) App for all the works (except individual beneficiary works) has been made mandatory from 1st January 2023.
What is the financial outlay of the Scheme on Enhancement of Competitiveness of Capital Goods- Phase-II?
Rs.1207 crores with budgetary support of Rs.975 crore and Industry Contribution of Rs.232 crore. The scheme aims to provide assistance to Common Technology Development and Services Infrastructure.
Union Minister for Education Shri Dharmendra Pradhan launched the National Apprenticeship and Training Scheme 2.0 Portal and disbursed ₹_____ stipends to apprentices through the DBT mode?
₹100 crore stipends
The Government of India (GoI) launched the Namami Gange Programme (NGP) in 2014-15 for the rejuvenation of river Ganga and its tributaries with a budgetary outlay of ₹____for five years, up to March 2021. It has been further extended to March 2026 with a budgetary outlay of ₹____?
with a budgetary outlay of ₹ 20,000 crore, for five years, up to March 2021. It has been further extended to March 2026 with a budgetary outlay of ₹ 22,500 crore.
The Ministry has formulated a scheme related to “Cashless Treatment to Road Crash Victims”, caused by the use of Motor Vehicle under the AB-PMJAY. What health benefits packages will be provided to victims?
Health Benefits Packages related to trauma and polytrauma care at empanelled hospitals will be provided to victims under the AB PM-JAY for up to a maximum of ₹1.5 lakh for a maximum period of 7 days from the date of the accident.
Union Minister of Consumer Affairs, Food and Public Distribution Shri Pralhad Joshi announced that grain-deficient states can directly purchase from Food Corporation of India (FCI) under the Open Market Sale Scheme (Domestic) (OMSS [D]) without participating in the e-auction from August 1st, 2024. Under the OMSS (D), the Department of Food and Public Distribution, will directly offload grain to states for ₹______per quintal (excluding the cost of transportation)?
Centre has decided to continue to provide free food grains to about ____beneficiaries (i.e. Antyodaya Anna Yojana (AAY) households and Priority Households (PHH) beneficiaries) under the PMGKAY for a period of five years with effect from January 1st, 2024 with a financial assistance of ₹______?
Under the PMGKAY, The food grain distributed in 2023-2024 is ____LMT and up to June 2024, the Centre has distributed ____ LMT?
** for ₹2800 per quintal (excluding the cost of transportation). Additionally, if the States/UTs want to procure more than the stipulated 5 kg of free grain per individual, then they can procure that at the same price at Rs 2,800 per quintal instead of the earlier Rs 2,900 per quint
** to about 81.35 crore beneficiaries with a financial outlay of ₹11.80 lakh crore, totally to be borne by the Central Government
** The food grain distributed in 2023-2024 is 497 LMT and up to June 2024, the Centre has distributed 125 LMT.
National Health Authority Achieves Milestone with ____OPD Registrations Through ABHA-based Scan and Share Service?
4 crore OPD registrations
- The ABHA-based scan and share service was launched in Oct 2022 under the Ayushman Bharat Digital Mission. It enables patients to conveniently register for OPD appointments by scanning a QR code displayed at the OPD registration counter, thereby instantaneously sharing their ABHA profile for registration.
- It is presently operational across over 8270 healthcare facilities spanning 579 districts in 35 States and Union Territories of India.
- Leading states in the adoption of this service are Uttar Pradesh (1.11 crore), Andhra Pradesh, Karnataka, Jammu and Kashmir and Notable usage recorded at AIIMS in Delhi, Bhopal, Raipur, and Bhubaneshwar.
- Among all the token generations, approximately 76% are first-time users, while 24% use scan and share for subsequent visits.
- NHA offers financial incentives through the ABDM’s Digital Health Incentive Scheme (DHIS) for ‘Scan and Share’ transactions and the generation of electronic health records. The Digital Health Incentive Scheme (DHIS) came into effect on 1st January 2023 NHA has come up with some relaxations like reduced transaction limits in the existing scheme with effective from 1st April 2023.
- The policy of the Digital Health Incentive Scheme DHIS of ABDM has been revised, and now all health facilities registered with the Health Facility Registry and Digital Solution Companies can earn an Incentive of up to ₹4 Crore.
An extended PMSMA (Pradhan Mantri Surakshit Matritva Abhiyan) strategy was launched by the Ministry of Health and Family Welfare. What is the PMSMA scheme?
The Government of India has expanded the list of high-risk pregnancies from ____ categories to ___ high-risk pregnancy categories to ensure early identification and timely management of complications to reduce morbidity & mortality and ensure institutional delivery by tagging with the nearest First Referral Unit (FRU)?
** It aims to provide fixed-day, free-of-cost, assured, comprehensive, and quality antenatal care (ANC) on the 9th day of every month, universally to all pregnant women in their 2nd/ 3rd trimesters of pregnancy, at designated public health facilities by Obstetricians/Medical officers.
** From 10 categories to 25 high-risk pregnancy categories
Under PMJDY, a total of ____Jan-Dhan accounts with a deposit balance of ₹_____have been opened as of 19.07.2024?
A total of 52.81 crore Jan-Dhan accounts with a deposit balance of ₹ 2,30,792 crores have been opened as of 19.07.2024 under PMJDY. Out of the same, 29.37 crore (55.6%) Jan-Dhan accounts belong to women and about 35.15 crore (66.6 %) PMJDY accounts have been opened in rural and semi-urban areas.
The census of MI (Minor Irrigation) schemes is being conducted in the States/UTs covering all groundwater and surface water schemes having Culturable Command Area (CCA) up to ___ ha?
Under the 6th MI census which was published in 2023, how many Minor Irrigation schemes were enumerated?
** up to 2000 ha
** In the 6th MI census, 231.4 lakh MI schemes were enumerated, out of which 219.3 lakh (94.8%) were groundwater schemes (Dug well/Shallow tube well/Medium tube well/Deep tube well) and 12.1 lakh (5.2%) were Surface Water schemes (surface flow/surface lift).
Info!!
The Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) recently launched an initiative called “Million Designers, Billion Dreams” in collaboration with “LEAP”. This innovative program aims to empower individuals across India with systems design know-how to tackle complex societal challenges.
This initiative focuses on rural leaders, frontline change agents, and village entrepreneurs, equipping them with the skills to create impactful, scalable solutions.
LEAP is a catalyst organization that emerged from the multidisciplinary work developed in India by the Design Laboratory at the Harvard T.H. Chan School of Public Health (D-Lab) and the Transform Rural India Foundation (TRIF), with seed investment from the Bill and Melinda Gates Foundation (BMGF)
Info!!
- As of 6 Aug 2024, the total number of farmers enrolled in the e-NAM platform across states and union territories is 1,77,55,957.
- The maximum number of farmers enrolled in the e-NAM is in the state of Uttar Pradesh i.e., 33,04,535.
- The lowest number of Farmers are enrolled in Andaman and Nicobar Islands i.e., 2.
RBI lifted restrictions from which entity in July and permitted banks to use the ratings for risk weighting their claims for capital adequacy purposes from that particular entity?
Brickwork Ratings India Private Limited
Which three aspects of regulations for Credit Rating Agencies (CRAs) are under the purview of the RBI?
A minimum net worth of ₹______is required by the CRA to get registered with SEBI?
** 1) Accrediting CRAs for credit ratings of bank loans/facilities
2) Authorizing CRAs for independent credit evaluation of resolution plans
3) Approves CRAs for rating of public deposits raised by NBFCs
** ₹25 crore
Credit Rating Agencies (CRAs) are specialized organizations that assess the creditworthiness of financial institutions that issue debt. They provide ratings that indicate the likelihood of the issuer defaulting on their debt obligations
A credit rating represents the rating agency’s opinion on the likelihood of a rated debt obligation being repaid in full and on time. Instruments with AAA rating are considered to have the highest degree of safety and The minus symbol associated with ratings has no negative connotations.
Authorized persons can facilitate remittances under the LRS (Liberalised Remittance Scheme) to IFSCs for which purposes?
Which entities are not permissible under the LRS?
As per the circular on Remittances to IFSCs under the Liberalised Remittance Scheme, which type of capital account transactions are allowed by the RBI?
** Authorized persons can facilitate remittances under the LRS (Liberalised Remittance Scheme) to IFSCs for:
a) Availing of financial services or products as per the International Financial Services Centres Authority Act, 2019 within IFSCs.
b) for all current or capital account transactions, in any other foreign jurisdiction other than IFSCs through a Foreign Currency Account (FCA) held in IFSCs.
c) Making investments in IFSCs in securities, except those issued by entities or companies resident in India (outside IFSCs).
d) Payment of fees for education to foreign universities or institutions in IFSCs for pursuing specified courses.
These provisions allow resident individuals to open Foreign Currency Accounts (FCAs) in IFSCs for these permissible purposes
** The Scheme is not available to corporates, partnership firms, HUF, Trusts, etc.
**- opening of foreign currency account abroad with a bank
- acquisition of immovable property abroad, Overseas Direct Investment (ODI) and Overseas Portfolio Investment (OPI) as per regulations
- extending loans including loans in Indian Rupees to Non-resident Indians (NRIs) who are relatives as defined in the Companies Act, 2013
Info!!
RBI released a circular on “Domestic Money Transfer – Review of Framework.” for Domestic Money Transfers (DMT) to reflect advancements in banking, payment systems, and Know Your Customer (KYC) procedures. According to the circular:
- The remitting bank shall obtain and keep a record of the name and address of the beneficiary
- Remitting banks / Business Correspondents (BCs) shall register the remitter based on a verified cell phone number and a self-certified ‘Officially Valid Document (OVD)’
- Every transaction by a remitter shall be validated by an Additional Factor of Authentication (AFA).
- The transaction message shall include an identifier to identify the fund transfer as a cash-based remittance
- Remitter details must be included in the IMPS/NEFT transaction message, with an identifier for cash-based remittances.
- Card-to-card transactions are excluded from the DMT framework and will be governed under separate guidelines.
- Authorised Dealers shall obtain Form A2 in physical or digital form for all cross-border remittances irrespective of the value of the transaction.
The Export-Import Bank of India extended a Line of Credit of USD_____ to the Government of the Co-operative Republic of Guyana for the installation of a Solar Photo Voltaic Power Plant?
USD 2.5 million
Which types of Overseas Portfolio Investments (OPI) are not permitted by the RBI?
What does the term “Overseas Direct Investment” means as per the RBI circular?
OPI shall not be made in:
1) Any unlisted debt instruments; or
2) Any security which is issued by a person resident in India who is not in an IFSC; or
3) Any derivatives not permitted by Reserve Bank; or
4) Any commodities including Bullion Depository Receipts (BDRs)
** “Overseas Direct Investment (ODI)” means:
(i)Acquisition of any unlisted equity capital or subscription as a part of the Memorandum of Association of a foreign entity, or
(ii) Investment in 10% or more of the paid-up equity capital of a listed foreign entity, or
(iii) Investment with control where investment is less than 10% of the paid-up equity capital of a listed foreign entity.
What are Authorized Dealers (ADs), what are the 3 categories of Ads?
Authorized Dealers (ADs) are entities authorized by the Reserve Bank of India (RBI) to deal in foreign exchange. They are classified into three categories:
Authorized Dealers Category 1- Can carry out all permissible current and capital account transactions such as trade-related transactions, remittances, and investments. Entities carrying these transactions include Commercial banks, State and Urban Cooperative banks etc
Authorized Dealers Category 2- Can handle specified non-trade related current account transactions for activities like private and business travel, education, medical treatment, and remittances for maintenance of close relatives. Entities carrying these transactions include upgraded Full-Fledged Money Changers (FFMCs), select Regional Rural Banks (RRBs), Urban Cooperative Banks (UCBs)
Authorized Dealers Category 3- Can carry out specific foreign exchange transactions incidental to their business or activities. This category is more restricted compared to AD-I and AD-II and includes financial institutions like SIDBI, EXIM bank, IFCI
Info!!
Nandini Sahakar is a Scheme by the National Cooperative Development Corporation (NCDC) to support women cooperatives in India.
It is a women-focused framework of financial assistance, project formulation, hand-holding and capacity development aimed at assisting women cooperatives to take up business model-based activities under the purview of the NCDC.
There is no minimum or maximum limit on financial assistance to projects by women cooperatives.
Answer the following based on the Extension of the PMAY-G (Pradhan Mantri Awas Yojana Gramin)-
a) The scheme was extended till what tenure and what is the outlay for the same?
b) Financial assistance is to be provided for the construction of ____more houses and It is expected to benefit nearly ___individuals?
c) What will be the unit cost of assistance for beneficiaries?
a) Total outlay of Rs 3,06,137 crore for FY 2024-25 to 2028- 29 including Central Share of Rs 2,05,856 crore and State Matching Share of Rs 1,00,281 crore.
b) Financial assistance will be provided for the construction of 2 crore more houses, and it is expected to benefit 10 crore individuals
c) Unit cost of assistance to beneficiaries to continue at existing rates of Rs.1.20 lakh in plain areas and Rs.1.30 lakh in North Eastern Region/ Hill States.
Apart from this, Administrative funds at 2% of the programme funds will be provided with bifurcation of the administrative funds as 1.70% to be released to the States/UTs and 0.30% to be retained at Central Level.
Info!!
As of 30th June 2024, the DAY-NRLM has achieved implementation in 7135 blocks in 742 districts across 28 States and 6 UTs, mobilizing 10.05 crore women into more than 90.86 lakh SHGs.
Info!!
- The PM-Jaiv Indhan-Vatavaran Anukool Fasal Awashesh Nivaran (PM-JIVAN) Yojana was extended till 2028-29.
- The scheme was notified in 2019 to provide financial assistance to 2nd generation Bio-ethanol Projects. It aims to provide remunerative income to farmers for their agriculture residue, address environmental pollution, create local employment opportunities, and contribute to India’s energy security and self-reliance.
- It includes advanced biofuels produced from lignocellulosic feedstocks i.e. agricultural and forestry residues, industrial waste, synthesis (syn) gas, algae etc. in its scope.
- “Bolt-on” plants & “Brownfield projects” would also now be eligible to leverage their experience and improve their viability.
The first 2G Ethanol Project was set up by the Indian Oil Corporation Limited at Panipat, Haryana
A) As per the Master Circular on Exposure Norms and Statutory / Other Restrictions for UCBs, Primary (Urban) Co-operative Banks (UCBs) were advised that the aggregate of their all loans against the security of shares and debentures should be within the overall ceiling of ___% of their Tier-1 Capital?
B) UCBs are required, inter alia, to have at least 50% of their aggregate loans and advances comprising Small Value Loans. What are small-value loans for UCBs?
C) RBI has decided to extend the glide path to achieve the 50% target of Small Value Loans to be achieved by UCBs by how many years?
D) The exposure to an individual borrower does not exceed ___% of their Tier-I capital?
E) As per Master Circular on Exposure Norms and Statutory / Other Restrictions – UCBs categorised in Tier-2 to 4 can extend individual housing loans up to a maximum of
₹______per individual borrower?
F) What is the ceiling of the loan amount for borrowers with respect to the deposit size of UCBs?
A) 20% of their Tier-1 capital
B) loans of value not more than ₹25 lakh or 0.2% of their Tier I capital, whichever is higher, subject to a maximum of ₹1 crore, per borrower.
- Tier-1 capital for UCBs is ₹2 crore for UCBs operating in a single district
- All other UCBs (in Tier 1, 2, and 3) must have a minimum net worth of ₹5 crore.
C) 2 years. A minimum of 40% of Small value loans should be achieved by March 31 2025 and 50% by March 31 2026
D) The exposure to an individual borrower does not exceed 15% of Tier-I capital; and,
- the exposure to a group of connected borrowers/parties does not exceed 25% of Tier-I capital.
E) up to ₹1.4 crore per individual borrower
F) Deposits up to ₹50 crore- ₹50000 per borrower
Deposits aove ₹50 crore- ₹1 lakh per borrrower
According to the Prompt Corrective Action (PCA) Framework for Primary (Urban) cooperative banks (UCBs), which will be the key areas for monitoring the revised PCA framework?
Under the PCA framework of the RBI, What are the different risk thresholds for Net NPAs and what steps should be taken for Risk Threshold 2?
What are the mandatory actions within the PCA framework for the Primary Urban Cooperative banks?
** - Capital, Asset Quality and Profitability will be the key areas for monitoring in the revised PCA Framework
- Indicators to be tracked for Capital, Asset Quality and Profitability would be CRAR, Net NPA Ratio (percentage of net NPA to net advances) and net profit, respectively.
** Risk thresholds for Net NPAs are
- Risk threshold 1: 6% to 9%
- Risk threshold 2: 9% to 12%
- Risk threshold 3: more than 12%
Steps to be taken under Risk Threshold 2 are:
- Bank to raise capital either from existing members or by the issuance of equity and other permissible capital instruments
- Restriction on branch expansion
- Restriction on declaration/payment of dividend/donation
- Appropriate restrictions on capital expenditure, other than for technological upgradation
** Risk Threshold 1:
i. Bank to raise capital either from existing members or by issuance of equity and other permissible capital instruments
ii. Restriction on declaration/payment of dividend/donation
iii. Appropriate restrictions on capital expenditure, other than for technological upgradation
Risk Threshold 2:
In addition to mandatory actions of Threshold 1,
i. Restriction on branch expansion
Risk Threshold 3:
In addition to mandatory actions of Thresholds 1 & 2,
i. Appropriate restrictions/ prohibition on expansion of the total size of the deposits
Recently, on a review and in consultation with the Government, RBI has decided to exclude all new securities of ______year and ________year tenors from the Fully Accessible Route?
14-year and 30-year tenors
The Fully Accessible Route (FAR) is a channel introduced by the Reserve Bank of India (RBI) to allow non-residents to invest in specified government securities without any restrictions.
Under FAR, eligible investors can invest in certain government bonds without being subject to any investment ceilings. This move aims to ease access for non-residents to the Indian government securities market and facilitate the inclusion of Indian bonds in global bond indices.
Answer the following as per the Master Direction on Treatment of Wilful Defaulters and Large Defaulters-
a) A wilful defaulter is a borrower or a guarantor who has committed wilful default and the outstanding amount is ₹____and above?
B) Large defaulter means a defaulter with an outstanding amount of ₹_____and above?
C) A wilful default will be considered based on what features?
D) If the Identification Committee is satisfied that an event of wilful default has occurred, it shall issue a show-cause notice to the borrower and call for the submissions from them within ___ days of issuance?
E) Even after the wilful defaulter’s name is removed from the LWD by the lender, the bar on receiving additional credit will continue for an additional ___ year?
a) ₹25 lakh and above and the borrower or a guarantor committing the wilful default is a company, its promoters and the director (s)
b) - Large defaulter means a defaulter with an outstanding amount of ₹1 crore and above
- where a suit has been filed
- or whose account has been classified as doubtful or lost (in accordance with the instructions issued by the Reserve Bank from time to time).
C) Deliberate Non-Payment: Borrowers who have the capacity to repay but intentionally avoid fulfilling their debt obligations.
Diversion of Funds: Borrowers who divert funds for purposes other than those for which the loan was sanctioned.
Siphoning of Funds: Borrowers who siphon off funds, resulting in the asset becoming non-performing.
Misrepresentation and Fraud: Borrowers who provide false information or commit fraud to obtain loans.
Disposal of Secured Assets: Borrowers who dispose of or remove the secured assets without the bank’s knowledge or permission.
D) within 21 days of issuance
Other Review mechanisms against Wilful defaulters:
- The evidence of wilful default shall be examined by the Identification Committee. After considering the submissions and where satisfied, the Identification Committee shall make a proposal to the Review Committee for classification as a wilful defaulter by explaining the reasons in writing.
- The identification of the wilful default should be made keeping in view the track record of the borrowers and should not be decided on the basis of isolated transactions/ incidents.
- An opportunity shall be provided to the borrower to make a written representation to the Review Committee within 15 days of a proposal from the Identification Committee.
- The borrower shall not have the right to be represented by a lawyer.
E) 1 year
Other Penal measures against wilful defaulters
- No additional credit facility shall be granted by any lender to a wilful defaulter.
- No additional credit facility shall be granted by any lender to any entity with which a wilful defaulter is associated.
- No lender shall grant credit for new ventures to a wilful defaulter or related entities for 5 years after removal from the LWD (List of Wilful Defaulters).
- Wilful defaulters or any entity with which a wilful defaulter is associated shall not be eligible for restructuring of credit facility
What are Dividend Equalization Fund (DEF), what directions were given by the RBI related to the DEF for Urban Cooperative Banks (UCB) in August 2024?
UCBs may declare dividends subject to compliance with the CRAR requirement of ______ and Net NPA requirement of ___________?
** A Dividend Equalisation Fund (DEF) is a reserve fund established by a company to ensure consistent dividend payouts to its shareholders, even during periods of fluctuating profits. This helps provide a stable income stream for investors. Essentially, it smooths out the dividends paid over time, making them more predictable and reliable
Directions for Dividend Equalization Fund (DEF) by the RBI:
- Transfer of Balances: UCBs are now permitted, as a one-time measure, to transfer the balances in the DEF to general reserves or free reserves. These balances will qualify as Tier-I capital
- Prohibition on Dividend Payments from DEF: The RBI reiterated that UCBs cannot use accumulated profits or reserves, including DEF, to pay dividends. Dividends must be paid from the net profit of the current year after making all statutory and other provision
- There should be no default in CRR/SLR during the year for which the dividend is proposed.
- Disclosure Requirements: UCBs must make suitable disclosures of such transfers in the ‘Notes on Accounts’ to the Balance Sheet
** CRAR requirements: Greater or Equal to 12%
NPA requirement: Less than 5%
By what year non-bank PSOs (Payment System Operators) have to comply with the “Master Directions on Cyber Resilience and Digital Payment Security Controls”?
- Large Non-Bank PSOs: April 1, 2025
- Medium non-bank PSOs: April 1, 2026
- Small Non-bank PSOs: April 1, 2028
What is Project Nexus, and why did the RBI join it?
It is expected to go live by ____?
** - Project Nexus is an initiative by the Bank for International Settlements (BIS) Innovation Hub aimed at enabling instant cross-border payments by interlinking domestic instant payment systems (IPS) from different countries.
- The Reserve Bank of India (RBI) has joined this project, which will connect India’s Unified Payments Interface (UPI) with the fast payment systems (FPS) of Malaysia, the Philippines, Singapore, and Thailand. Indonesia, which has been involved from the early stages, continues to be involved as a special observer.
** by 2026
What two declarations should be provided by the exporters as per the Draft Circular on Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024?
The amount representing the full export value of goods and services shall be realised and repatriated to India within _____months from the date of invoice for services?
** i. Every exporter shall furnish to the specified authority, a declaration in the Form specified by RBI, specifying the amount representing the full export value of the goods or services.
ii. The exporter shall submit to the Authorised Dealer the documents pertaining to export, within 21 calendar days from the date of shipment in case of goods or from the date of invoice in case of services
** Within 9 months
Other directions as per the draft circular on Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2024:
1) Advance payment for the export of goods and services may be received as per the export contract. Interest payable if any, on such advance payment, shall not exceed the all-in-cost ceiling of trade credit.
2) Where an exporter is unable to fulfil the export obligation within the contracted period, the advance received shall be refunded
3) Advance payment for import of goods and services shall be repatriated by the importer and surrendered to the Authorised Dealer in case of non-import within the contract period
4) An exporter who has not realized the full value of export within the time specified (including extensions, if any) under Regulation may be caution listed by the Authorised Dealer subject to the directions issued by the Reserve Bank. An exporter who has been caution listed shall undertake export only against receipt of advance payment in full or against an irrecoverable letter of credit, to the satisfaction of the Authorised Dealer.
The Authorised Dealer may remove the name of the exporter from the caution list, as per the directions issued by the Reserve Bank
The Reserve Bank of India (RBI) in July imposed a monetary penalty of ₹1,31,80,000 on _______for non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’, and ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016’?
Punjab National Bank
What was the title of the Fourth “Suresh Tendulkar Memorial Lecture” delivered by John C. Williams, President and Chief Executive Officer, of the “Federal Reserve Bank of New York”?
What were the few principles that contributed to the prolonged period of price stability in the US according to John C Williams, at the 4th Suresh Tendulkar Memorial Lecture?
** “Managing the Known Unknowns”
** 1) Responsibility: Central banks must own the responsibility to deliver price stability and have the independence to act to achieve it.
2) Transparency and Communication: Clear communication of goals, including an explicit numerical inflation target, is crucial. This transparency enhances accountability and keeps central banks focused on their objective
3) Well-anchored inflation expectations: This principle has become a bedrock of modern central banking, as economic analysis and history have shown that anchoring inflation expectations is important in maintaining low and stable inflation.
4) Central Bank Independence: Central banks must have the autonomy to act decisively to achieve price stability
Info!!
Regulatory Sandbox (RS) – Cohorts and Inter-Operable Regulatory Sandbox (IoRS)
1) First Cohort: The first Cohort under the Regulatory Sandbox was launched by RBI in December 2020, with the theme ‘Retail Payments
2) The second Cohort with the theme as ‘Cross Border Payments
3) The third cohort with the theme ‘MSME Lending
4) The fourth cohort with the theme ‘Prevention and Mitigation of Financial Frauds’
5) The fifth cohort under RS has been announced to be ‘Theme Neutral
Answer the following based on the revised “Model Skill Loan” scheme launched by the Ministry of Skill Development & Entrepreneurship-
a) The loan limit was raised to what amount and what is the guarantee for loan default for up to what per cent against the loan will be provided?
b) Now the loans will be disbursed by which other financial institutes?
a) - the maximum loan limit has been raised from ₹1.5 lakh to ₹7.5 lakh
- A guarantee against default for up to 75% of the loan will be provided
b) Previously, only banks were eligible for facilitating loans. Now, non-banking financial companies (NBFCs), NBFC-MFIs (micro-finance institutions), and small finance banks can also serve as lending institutions.
What are the outlay and objectives for the implementation of the “Model Solar Village” under PM Surya Ghar Muft Bijli Yojana, as per the scheme guidelines?
What are the eligibility criteria for consideration as a Model Solar Village?
What is the Central Financial Assistance provided for the Model Solar Village?
** - The goal is to create one Model Solar Village per district across India, with the goal of promoting solar energy adoption and enabling village communities to become self-reliant in meeting their energy needs.
- Total Outlay: Rs.800 crores, providing ₹1 crore per selected Model Solar Village.
Objectives:
- Solarize one village per District and promote the uptake of solar rooftops in India.
- Promote green and clean energy access to electricity in the villages.
- Empower village communities to become more self-reliant in meeting their energy needs and help them save money on energy bills by generating electricity locally and reducing reliance on utility companies.
- Develop a 24x7 solar-powered village covering all the households and public areas that acts as a model for other villages to follow.
- Promote technologies like solar-based home lighting systems in all households, solar-based water systems in the village, solar pumps for agricultural purposes and the installation of solar streetlights covering village roads and common village infrastructure.
** The village must be a revenue village with a population size of more than 5,000 as per the latest published Census. However, in the case of special category States (States/UTs of Uttarakhand, Himachal Pradesh, J&K, Ladakh, States in the North East including Sikkim, UTs of A&N and Lakshadweep), revenue villages with a population size of more than 2,000 as per the latest census would be eligible.
** Central Financial Assistance:
- The winning village in each district, with the highest RE capacity, will receive a central financial assistance grant of ₹1 crore.
- Public projects can be supported up to 100% of the project cost, However, in case the projects are for supporting collectives (self-help groups, primary level cooperative societies (PACS, Dairy, Fishery etc) and others) in the village, contribution from the beneficiary collective of at least 10% shall be taken in order for the CFA benefits to be extended to them.
- No individual beneficiaries can be included in CFA support under the project DPR for Model Solar Village.
The amount of CFA that shall be released to the MSVIA (Model Solar Village Implementation Authority) is as follows:
a) 40% of CFA at the time of award of all works in the DPR
b) 40 % of CFA after completion of all works undertaken in the DPR and after certification to that effect by the DLC
c) 20% of CFA after at least 6 months of operation of all works undertaken
RBI lifted restrictions from which entity and permitted banks to use the ratings for risk weighting their claims for capital adequacy purposes from that particular entity?
Brickwork Ratings India Private Limited
Which three aspects of regulations for Credit Rating Agencies (CRAs) are under the purview of the RBI?
A minimum net worth of ₹______is required by the CRA to get registered with SEBI?
** 1) Accrediting CRAs for credit ratings of bank loans/facilities
2) Authorizing CRAs for independent credit evaluation of resolution plans
3) Approves CRAs for rating of public deposits raised by NBFCs
** ₹25 crore
Credit Rating Agencies (CRAs) are specialized organizations that assess the creditworthiness of financial institutions that issue debt. They provide ratings that indicate the likelihood of the issuer defaulting on their debt obligations
A credit rating represents the rating agency’s opinion on the likelihood of a rated debt obligation being repaid in full and on time. Instruments with AAA rating are considered to have the highest degree of safety and The minus symbol associated with ratings has no negative connotations.
Authorized persons can facilitate remittances under the LRS (Liberalised Remittance Scheme) to IFSCs for which purposes?
Which activities are not permissible under the LRS?
As per the circular on Remittances to IFSCs under the Liberalised Remittance Scheme, which type of capital account transactions are allowed by the RBI?
** Authorized persons can facilitate remittances under the LRS (Liberalised Remittance Scheme) to IFSCs for:
a) Availing of financial services or products as per the International Financial Services Centres Authority Act, 2019 within IFSCs.
b) for all current or capital account transactions, in any other foreign jurisdiction other than IFSCs through a Foreign Currency Account (FCA) held in IFSCs.
c) Making investments in IFSCs in securities, except those issued by entities or companies resident in India (outside IFSCs).
d) Payment of fees for education to foreign universities or institutions in IFSCs for pursuing specified courses.
These provisions allow resident individuals to open Foreign Currency Accounts (FCAs) in IFSCs for these permissible purposes
** The Scheme is not available to corporates, partnership firms, HUF, Trusts, etc.
**- opening of foreign currency account abroad with a bank
- acquisition of immovable property abroad, Overseas Direct Investment (ODI) and Overseas Portfolio Investment (OPI) as per regulations
- extending loans including loans in Indian Rupees to Non-resident Indians (NRIs) who are relatives as defined in the Companies Act, 2013
Info!!
RBI released a circular on “Domestic Money Transfer – Review of Framework.” for Domestic Money Transfers (DMT) to reflect advancements in banking, payment systems, and Know Your Customer (KYC) procedures. According to the circular:
- The remitting bank shall obtain and keep a record of the name and address of the beneficiary
- Remitting banks / Business Correspondents (BCs) shall register the remitter based on a verified cell phone number and a self-certified ‘Officially Valid Document (OVD)’
- Every transaction by a remitter shall be validated by an Additional Factor of Authentication (AFA).
- The transaction message shall include an identifier to identify the fund transfer as a cash-based remittance
- Remitter details must be included in the IMPS/NEFT transaction message, with an identifier for cash-based remittances.
- Card-to-card transactions are excluded from the DMT framework and will be governed under separate guidelines.
- Authorised Dealers shall obtain Form A2 in physical or digital form for all cross-border remittances irrespective of the value of the transaction.
The Export-Import Bank of India extended a Line of Credit of USD_____ to the Government of the Co-operative Republic of Guyana for the installation of a Solar Photo Voltaic Power Plant?
2.5 million USD
Answer the following based on the Master Circular of Overseas Investments, released by the RBI in July-
A) Which types of Overseas Portfolio Investments (OPI) are not permitted by the RBI?
B) What does the term “Overseas Direct Investment” mean, as per the RBI circular?
C) What are the Provisions for Overseas Portfolio Investments (OPI)?
Info!!
The directions apply to all Authorized Dealer Category-I banks and outline the procedures for facilitating overseas investments by Indian residents. It covers Overseas Direct Investment (ODI), Overseas Portfolio Investment (OPI), and investments in International Financial Services Centres (IFSCs).
A) OPI shall not be made in:
1) Any unlisted debt instruments; or
2) Any security which is issued by a person resident in India who is not in an IFSC; or
3) Any derivatives not permitted by Reserve Bank; or
4) Any commodities including Bullion Depository Receipts (BDRs)
B) “Overseas Direct Investment (ODI)” means:
(i) Acquisition of any unlisted equity capital or subscription as a part of the Memorandum of Association of a foreign entity, or
(ii) Investment in 10% or more of the paid-up equity capital of a listed foreign entity, or
(iii) Investment with control where investment is less than 10% of the paid-up equity capital of a listed foreign entity.
C) - Resident individuals may make OPI within the overall limit for the Liberalised Remittance Scheme (LRS) of 250,000 USD
- Financial commitment by an Indian entity, exceeding USD 1 billion (or its equivalent) in a financial year shall require prior approval of the Reserve Bank
- Any person resident in India having an account appearing as a Non-Performing Asset (NPA) shall obtain a NOC from the lender bank
- Overseas investment by way of cash is NOT permitted
What are Authorized Dealers (ADs), and what are the 3 categories of Ads?
Authorized Dealers (ADs) are entities authorized by the Reserve Bank of India (RBI) to deal in foreign exchange. They are classified into three categories:
Authorized Dealers Category 1- Can carry out all permissible current and capital account transactions such as trade-related transactions, remittances, and investments. Entities carrying these transactions include Commercial banks, State and Urban Cooperative banks etc
Authorized Dealers Category 2- Can handle specified non-trade-related current account transactions for activities like private and business travel, education, medical treatment, and remittances for maintenance of close relatives. Entities carrying these transactions include upgraded Full-Fledged Money Changers (FFMCs), select Regional Rural Banks (RRBs), Urban Cooperative Banks (UCBs)
Authorized Dealers Category 3- Can carry out specific foreign exchange transactions incidental to their business or activities. This category is more restricted compared to AD-I and AD-II and includes financial institutions like SIDBI, EXIM bank, IFCI
As of June 2024, approximately ____ women milk producers have been covered under DIDF out of a total of ____producer members, with significant participation of ___%?
- 12.52 lakh women milk producers out of 42.48 lakh milk producer members, with a significant participation of 30%
- The DIDF (Dairy processing & Infrastructure Development Fund) scheme has been merged into the Animal Husbandry Infrastructure Development Fund, and its implementation has been extended for the next two years (2024-2026) with an outlay of Rs 29,110.25 crore.
Info!!
Nandini Sahakar is a Scheme by the National Cooperative Development Corporation (NCDC) to support women cooperatives in India. It is a women-focused framework of financial assistance, project formulation, hand-holding and capacity development aimed at assisting women cooperatives to take up business model-based activities under the purview of the NCDC. There is no minimum or maximum limit on financial assistance to projects by women cooperatives.
Info!!
Funds of Rs. 126.84 crore have been approved under the umbrella scheme “Safety of Women” for the establishment of 06 NCFLs (National Cyber Forensic Laboratory) in Central Forensic Science Laboratories located at Delhi, Chandigarh, Kolkata, Guwahati, Bhopal, and Pune.
Answer the following based on the National Clean Air Programme (NCAP)-
a) When was the National Clean Energy Programme (NCAP) launched and it aimed to improve the air quality in how many cities?
b) What are the revised targets for the reduction of PM10 levels?
c) Which 4 cities of Gujarat are covered under the NCAP and what outlay is provided for them?
A) It was launched in 2019 to improve air quality in 131 non-attainment and Million Plus Cities/Urban Agglomerations across 24 States/UTs
B) - The National Clean Air Programme (NCAP) has revised its targets for reducing PM10 levels. Initially, the goal was to achieve a 20-30% reduction in PM10 concentrations by 2024-25 compared to the baseline year of 2017-18. However, this target has now been updated to aim for a 40% reduction in PM10 levels by 2025-26
- Additionally, specific cities have been given annual targets ranging from a 4-15% reduction in PM10 concentrations, along with a 15% improvement in the number of days with good air quality (Air Quality Index less than 200) for 49 Million Plus cities
C) Four cities of Gujarat, namely Ahmedabad, Rajkot, Surat, and Vadodara are covered under both Programmes and an amount of ₹1085.2 crore has been provided till 2023-24 for these cities
PM10 refers to particulate matter that is 10 micrometres or smaller in diameter. Particulate matter (PM) is a mixture of solid particles and liquid droplets found in the air. PM10 particles are so small that they can be inhaled into the respiratory system, and their size makes them particularly harmful to human health.
Answer the following based on the Extension of the PMAY-G (Pradhan Mantri Awas Yojana Gramin)-
a) The scheme was extended till what tenure and what is the outlay for the same?
b) Financial assistance is to be provided for the construction of ____more houses and It is expected to benefit nearly ___individuals?
c) What will be the unit cost of assistance for beneficiaries?
a) Total outlay of Rs 3,06,137 crore for FY 2024-25 to 2028- 29 including Central Share of Rs 2,05,856 crore and State Matching Share of Rs 1,00,281 crore.
b) Financial assistance will be provided for the construction of 2 crore more houses, and it is expected to benefit 10 crore individuals
c) Unit cost of assistance to beneficiaries to continue at existing rates of Rs.1.20 lakh in plain areas and Rs.1.30 lakh in North Eastern Region/ Hill States.
Apart from this, Administrative funds at 2% of the programme funds will be provided with the bifurcation of the administrative funds as 1.70% to be released to the States/UTs and 0.30% to be retained at the Central Level.
Info!!
As of 30th June 2024, the DAY-NRLM has achieved implementation in 7135 blocks in 742 districts across 28 States and 6 UTs, mobilizing 10.05 crore women into more than 90.86 lakh SHGs.
Info!!
- The PM-Jaiv Indhan-Vatavaran Anukool Fasal Awashesh Nivaran (PM-JIVAN) Yojana was extended till 2028-29.
- The scheme was notified in 2019 to provide financial assistance to 2nd generation Bio-ethanol Projects. It aims to provide remunerative income to farmers for their agriculture residue, address environmental pollution, create local employment opportunities, and contribute to India’s energy security and self-reliance.
- It includes advanced biofuels produced from lignocellulosic feedstocks i.e. agricultural and forestry residues, industrial waste, synthesis (syn) gas, algae etc. in its scope.
- “Bolt-on” plants & “Brownfield projects” would also now be eligible to leverage their experience and improve their viability.
The first 2G Ethanol Project was set up by the Indian Oil Corporation Limited at Panipat, Haryana
A) As per the Master Circular on Exposure Norms and Statutory / Other Restrictions for UCBs, Primary (Urban) Co-operative Banks (UCBs) were advised that the aggregate of their all loans against the security of shares and debentures should be within the overall ceiling of ___% of their Tier-1 Capital?
B) UCBs are required, inter alia, to have at least 50% of their aggregate loans and advances comprising Small Value Loans. What are small-value loans for UCBs?
C) RBI has decided to extend the glide path to achieve the 50% target of Small Value Loans to be achieved by UCBs by how many years?
D) The exposure to an individual borrower does not exceed ___% of their Tier-I capital?
E) As per Master Circular on Exposure Norms and Statutory / Other Restrictions, UCBs categorised in Tier-2 to 4 can extend individual housing loans up to a maximum of
₹______per individual borrower?
F) What is the ceiling of the loan amount for borrowers with respect to the deposit size of UCBs?
G) The total unsecured loans and advances (with surety or without surety or for cheque purchase) granted by a UCB to its members should not exceed ___%of its total assets?
A) 20% of their Tier-1 capital
B) loans of value not more than ₹25 lakh or 0.2% of their Tier I capital, whichever is higher, subject to a maximum of ₹1 crore, per borrower.
- Tier-1 capital for UCBs is ₹2 crore for UCBs operating in a single district
- All other UCBs (in Tier 1, 2, and 3) must have a minimum net worth of ₹5 crore.
C) 2 years. A minimum of 40% of Small value loans should be achieved by March 31 2025 and 50% by March 31 2026
D) - the exposure to an individual borrower does not exceed 15% of Tier-I capital; and,
- the exposure to a group of connected borrowers/parties does not exceed 25% of Tier-I capital.
E) Up to ₹1.4 crore per individual borrower
F) Deposits up to ₹50 crore- ₹50000 per borrower
Deposits abve ₹50 crore- ₹1 lakh per borrrower
G) 10% of its total assets
According to the Prompt Corrective Action (PCA) Framework for Primary (Urban) cooperative banks (UCBs), which will be the key areas for monitoring the revised PCA framework?
Under the PCA framework of the RBI, What are the different risk thresholds for Net NPAs and what steps should be taken for Risk Threshold 2?
What are the mandatory actions within the PCA framework for the Primary Urban Cooperative banks?
** - Capital, Asset Quality and Profitability will be the key areas for monitoring in the revised PCA Framework
- Indicators to be tracked for Capital, Asset Quality and Profitability would be CRAR, Net NPA Ratio (percentage of net NPA to net advances) and net profit, respectively.
** Risk thresholds for Net NPAs are
- Risk threshold 1: 6% to 9%
- Risk threshold 2: 9% to 12%
- Risk threshold 3: more than 12%
Steps to be taken under Risk Threshold 2 are:
- Bank to raise capital either from existing members or by the issuance of equity and other permissible capital instruments
- Restriction on branch expansion
- Restriction on declaration/payment of dividend/donation
- Appropriate restrictions on capital expenditure, other than for technological upgradation
** Risk Threshold 1:
i. Bank to raise capital either from existing members or by issuance of equity and other permissible capital instruments
ii. Restriction on declaration/payment of dividend/donation
iii. Appropriate restrictions on capital expenditure, other than for technological upgradation
Risk Threshold 2:
In addition to mandatory actions of Threshold 1,
i. Restriction on branch expansion
Risk Threshold 3:
In addition to mandatory actions of Thresholds 1 & 2,
i. Appropriate restrictions/ prohibition on expansion of the total size of the deposits
Recently, on a review and in consultation with the Government, RBI has decided to exclude all new securities of ______year and ________year tenors from the Fully Accessible Route?
14-year and 30-year tenors
Answer the following as per the Master Direction on Treatment of Wilful Defaulters and Large Defaulters-
a) A wilful defaulter is a borrower or a guarantor who has committed wilful default and the outstanding amount is ₹____and above?
B) Large defaulter means a defaulter with an outstanding amount of ₹_____and above?
C) A wilful default will be considered based on what features?
D) If the Identification Committee is satisfied that an event of wilful default has occurred, it shall issue a show-cause notice to the borrower and call for the submissions from them within ___ days of issuance?
E) Even after the wilful defaulter’s name is removed from the LWD by the lender, the bar on receiving additional credit will continue for an additional ___ year?
a) ₹25 lakh and above and the borrower or a guarantor committing the wilful default is a company, its promoters and the director (s)
b) - Large defaulter means a defaulter with an outstanding amount of ₹1 crore and above
- where a suit has been filed
- or whose account has been classified as doubtful or lost (in accordance with the instructions issued by the Reserve Bank from time to time).
C) Deliberate Non-Payment: Borrowers who have the capacity to repay but intentionally avoid fulfilling their debt obligations.
Diversion of Funds: Borrowers who divert funds for purposes other than those for which the loan was sanctioned.
Siphoning of Funds: Borrowers who siphon off funds, resulting in the asset becoming non-performing.
Misrepresentation and Fraud: Borrowers who provide false information or commit fraud to obtain loans.
Disposal of Secured Assets: Borrowers who dispose of or remove the secured assets without the bank’s knowledge or permission.
D) within 21 days of issuance
Other Review mechanisms against Wilful defaulters:
- The evidence of wilful default shall be examined by the Identification Committee. After considering the submissions and where satisfied, the Identification Committee shall make a proposal to the Review Committee for classification as a wilful defaulter by explaining the reasons in writing.
- The identification of the wilful default should be made keeping in view the track record of the borrowers and should not be decided on the basis of isolated transactions/ incidents.
- An opportunity shall be provided to the borrower to make a written representation to the Review Committee within 15 days of a proposal from the Identification Committee.
- The borrower shall not have the right to be represented by a lawyer.
E) 1 year
Other Penal measures against wilful defaulters:
- No additional credit facility shall be granted by any lender to a wilful defaulter.
- No additional credit facility shall be granted by any lender to any entity with which a wilful defaulter is associated.
- No lender shall grant credit for new ventures to a wilful defaulter or related entities for 5 years after removal from the LWD (List of Wilful Defaulters).
- Wilful defaulters or any entity with which a wilful defaulter is associated shall not be eligible for restructuring of credit facility
a) The PMAY-U 2.0 was launched, what is the tenure and outlay of the scheme?
b) What are the eligibility criteria of the scheme?
c) What financial incentives will be provided under the Beneficiary-Led Construction (BLC) and Affordable Housing in Partnership (AHP) components of the scheme?
d) What financial incentives will be provided under the Affordable Rental Housing (ARH) component of the scheme?
e) The earlier In-Situ Slum Redevelopment (ISSR) component has been subsumed into AHP, with increased assistance of ₹_____compared to the previous ₹___?
F) In a bid to tighten the interest subsidy scheme and ensure compliance, the government has revised the eligibility norms. What are the new eligibility norms?
G) A total of ____ houses have been sanctioned in the first phase of PMAY-U 2.0, while more than ____houses have already been constructed and delivered to the beneficiaries?
H) The corpus fund of Credit Risk Guarantee Fund Trust (CRGFT) has been increased from ₹____to ₹____to provide the benefit of credit risk guarantee on affordable housing loans from Banks/ HFCs/Primary Lending Institutions (PLIs) to EWS/ LIG segments for construction/purchase of their first home?
I) What will be the funding pattern between the Centre and the State?
a) - The scheme was extended from FY2024-25 to FY2028-29 with an outlay of ₹10 lakh crore
- The Government Assistance of ₹ 2.30 lakh crore will be provided under the Scheme.
b) Families belonging to EWS/LIG/Middle Income Group (MIG)
segments having no pucca house anywhere in the country are
eligible to purchase or construct a house under PMAY-U 2.0.
- EWS households are families with an annual income of up to ₹3
lakh. - LIG households are families with an annual income of ₹3
lakh up to ₹6 lakh. - MIG households are families with an annual income of ₹6
lakh up to ₹9 lakh.
C) - The Government Assistance in AHP/BLC verticals under PMAY-U 2.0 will be ₹2.50 lakh per unit.
- An additional Grant in the form of a Technology Innovation Grant (TIG) ₹1000 per sqm up to 30 sqm per dwelling unit shall be provided under the AHP component to implementing agencies using innovative building materials, and construction technologies.
D) Technology Innovation Grant (TIG) of ₹5000/ per square meter will be provided under the ARH component, including ₹3000/per square metre by the Centre share and ₹2000/ per square meter by State share
E) with an increased assistance of ₹2.5 lakh from the earlier ₹1 lakh
F) Beneficiaries taking loans of up to ₹25 lahks for a house costing a maximum of ₹35 lahks will now be eligible for a 4% interest subsidy on the first ₹8 lakh of the loan for up to 12 years. The subsidy will be disbursed in 5-yearly instalments, and beneficiaries can access their accounts through a website, OTP, or smart cards.
G) A total of 1.18 crore houses have been sanctioned in the first phase of PMAY-U 2.0, while more than 85.5 lakh houses have already been constructed and delivered to the beneficiaries.
H) From ₹1000 crore to ₹3000 crore. Further Management of the Credit Risk Guarantee Fund will be transferred to the National Credit Guarantee Company (NCGTC) from the National Housing Bank (NHB)
I) The funding pattern between the Centre and the State will be:
- General States: 60:40
- UTs with the legislature, Northeast states & Himalayan states: 90:10
- UTs without legislature: 100:0
Other Information:
1- TISM will be set up under PMAY-U 2.0 to guide and facilitate States/UTs and other stakeholders in the adoption of modern, innovative and green technologies and building materials for faster and quality construction of houses. Under TISM, States/UTs/Cities will be assisted through innovative practices and projects in challenge mode focused on disaster-resistant and environment-friendly technologies for climate-smart buildings and resilient housing.
2- In order to seek benefits under PMAY-U 2.0, States/UTs will have to formulate an “Affordable Housing Policy” containing various reforms and incentives for ensuring the active participation of Public/Private entities and promoting the Affordable Housing Ecosystem. ‘Affordable Housing Policy’ will include such reforms which will improve the affordability of ‘Affordable Housing’.
Info!!
In February 2018, the Government of India announced the establishment of 1,50,000 Ayushman Arogya Mandirs (AAMs) erstwhile Ayushman Bharat Health and Wellness Centres (AB-HWCs), across the country by December 2022.
As updated by the States/UTs in the AAM portal, a total of 1,73,881 Ayushman Arogya Mandirs have been established and operationalized till 31.07.2024, by transforming existing Sub-Health Centres (SHC) and Primary Health Centres (PHC) in rural and urban areas to deliver the expanded range of comprehensive primary healthcare services with complete 12 packages of services that include preventive, promotive, curative, palliative and rehabilitative services which are universal, free, and closer to the community.
