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
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 fifteen to eighteen thousand 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
- Components of the India AI Mission are:
- IndiaAI Compute Capacity
- IndiaAI Innovation Centre (IAIC)
- IndiaAI Datasets Platform
- IndiaAI Future Skills
- IndiaAI Application Development Initiative
- IndiaAI Startup Financing
- Safety & Trusted AI
- 10000 GPUs
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.
