Banking Awareness Questions for SBI PO/Clerk | 20th July 2018

S1. Ans.(c)
Sol. Hon’ble Prime Minister announced Pradhan Mantri Jan Dhan Yojana as the National Mission on Financial Inclusion in his Independence Day address on 15th August 2014, to ensure comprehensive financial inclusion of all the households in the country by providing universal access to banking facilities with at least one basic bank account to every household, financial literacy, access to credit, insurance and pension facility.

Q2. PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of _____________, and access to overdraft facility upon satisfactory operation of account or credit history of ______________ months. 
(a) 1 lakh, 6 months
(b) 7 lakh, 3 months
(c) 5 lakh, 4 months
(d) 3 lakh, 10 months
(e) 2 lakh, 5 months

S2. Ans.(a)
Sol. PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of Rs. 1 lakh, and access to overdraft facility upon satisfactory operation of account or credit history of six months.

Q3. In which year, all eligible account holders can access their bank accounts personal accident insurance cover under PMSBY, life insurance cover under PMJJBY, and guaranteed minimum pension to subscribers under APY.
(a) 9th May 2016
(b) 9th May 2014
(c) 9th May 2017
(d) 9th May 2015
(e) 9th May 2013

S3. Ans.(d)
Sol. Prime Minister’s Social Security Schemes, launched by the Hon’ble Prime Minister Narendra Modi on 9th May 2015, all eligible account holders can access through their bank accounts personal accident insurance cover under Pradhan Mantri Suraksha Bima Yojana, life insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojana, and guaranteed minimum pension to subscribers under Atal Pension Yojana.

Q4. Which scheme is available to people in the age group of 18 to 50 years having a bank account who give their consent to join/enable auto-debit?
(a) PMVVY
(b) PMJJBY
(c) PMSBY
(d) APY
(e) PMMY

S4. Ans.(b)
Sol. The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join /enable auto-debit. Aadhar is the primary KYC for the bank account.

Q5. The risk coverage under the PMSBY scheme is __________ lakh for accidental death and full disability and Rs. 1 lakh for partial disability.
(a) Rs. 3 lakh
(b) Rs. 5 lakh
(c) Rs. 4 lakh
(d) Rs. 1 lakh
(e) Rs. 2 lakh

S5. Ans.(e)
Sol. Pradhan Mantri Suraksha Bima Yojana (PMSBY) is available to people in the age group 18 to 70 years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is Rs. 2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability.

Q6. The premium is ______________ per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the PMJJBY scheme. 
(a) Rs. 365 per annum
(b) Rs. 110 per annum
(c) Rs. 12 per annum
(d) Rs. 330 per annum
(e) Rs. 205 per annum 

S6. Ans.(d)
Sol. The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join /enable auto-debit. Aadhar is the primary KYC for the bank account. The life cover of Rs. 2 lakh is for the one year period stretching from 1st June to 31st May and is renewable. Risk coverage under this scheme is for Rs. 2 lakh in case of death of the insured, due to any reason. The premium is Rs. 330 per annum which is to be auto-debited in one installment from the subscriber’s bank account as per the option given by him on or before 31st May of each annual coverage period under the scheme.

Q7. The Pradhan Mantri Suraksha Bima Yojana or PMSBY is available to people in the age group ____________ years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. 
(a) 18 to 70 years
(b) 18 to 50 years
(c) 18 to 40 years
(d) 18 to 60 years
(e) 18 to 80 years

S7. Ans.(a)
Sol. The Pradhan Mantri Suraksha Bima Yojana or PMSBY is available to people in the age group 18 to 70 years with a bank account who give their consent to join/ enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis. Aadhar would be the primary KYC for the bank account.

Q8. The premium of how much amount per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment under Pradhan Mantri Suraksha Bima Yojana?
(a) Rs. 365 per annum
(b) Rs. 110 per annum
(c) Rs. 12 per annum
(d) Rs. 330 per annum
(e) Rs. 205 per annum

S8. Ans.(c)
Sol. The premium of Rs.12 per annum is to be deducted from the account holder’s bank account through ‘auto-debit’ facility in one installment under Pradhan Mantri Suraksha Bima Yojana.

Q9. _____________ is a pension scheme for citizens of India focussed on the unorganised sector workers. 
(a) PMVVY
(b) PMJJBY
(c) PMSBY
(d) PMMY
(e) APY

S9. Ans.(e)
Sol. Atal Pension Yojana (APY) is a pension scheme for citizens of India focussed on the unorganised sector workers. Under the APY, guaranteed minimum pension of Rs. 1,000/-, 2,000/-, 3,000/-, 4,000 and 5,000/- per month will be given at the age of 60 years depending on the contributions by the subscribers.

Q10. Name the scheme, Under a loan of upto Rs. 50,000 is given under sub-scheme ‘Shishu’; between Rs. 50,000 to 5.0 Lakhs under sub-scheme ‘Kishore’; and between 5.0 Lakhs to 10.0 Lakhs under sub-scheme ‘Tarun’.
(a) Pradhan Mantri Vaya Vandana Yojana
(b) Pradhan Mantri Mudra Yojana
(c) Pradhan Mantri Jan Dhan Yojana
(d) Pradhan Mantri Suraksha Bima Yojana
(e) Pradhan Mantri Jeevan Jyoti Bima Yojana

S10. Ans.(b)
Sol. The scheme was launched on 8th April 2015. Under the scheme a loan of upto Rs. 50,000 is given under sub-scheme ‘Shishu’; between Rs. 50,000 to 5.0 Lakhs under sub-scheme ‘Kishore’; and between 5.0 Lakhs to 10.0 Lakhs under sub-scheme ‘Tarun’. Loans taken do not require collaterals.

Q11. The government of India launched the Stand Up India scheme. The Scheme facilitates bank loans between __________ and ____________ to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one Woman borrower per bank branch for setting up greenfield enterprises. 
(a) Rs. 10 lakh and Rs. 1 crore
(b) Rs. 5 lakh and Rs. 50 crore
(c) Rs. 20 lakh and Rs. 5 crore
(d) Rs. 50 lakh and Rs. 10 crore
(e) Rs. 1 lakh and Rs. 20 crore

S11. Ans.(a)
Sol. The government of India launched the Stand Up India scheme on 5th April 2016. The Scheme facilitates bank loans between Rs.10 lakh and Rs.1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one Woman borrower per bank branch for setting up greenfield enterprises. This enterprise may be in manufacturing, services or the trading sector.

Q12. Stand Up India scheme caters to promoting entrepreneurship amongst women, __________ category.
(a) SC
(b) ST
(c) General
(d) OBC
(e) Both (a) and (b)

S12. Ans.(e)
Sol. Stand Up India scheme caters to promoting entrepreneurship amongst women, SC & ST category i.e those sections of the population facing significant hurdles due to lack of advice/mentorship as well as inadequate and delayed credit.

Q13. Atal Pension Yojana or APY is open to all saving bank/post office saving bank account holders in the age group of ________ years and the contributions differ, based on pension amount chosen. 
(a) 18 to 70 years
(b) 18 to 50 years
(c) 18 to 40 years
(d) 18 to 60 years
(e) 18 to 80 years

S13. Ans.(c)
Sol. APY was launched on 9th May 2015 by the Prime Minister. APY is open to all saving bank/post office saving bank account holders in the age group of 18 to 40 years and the contributions differ, based on pension amount chosen.  Subscribers would receive the guaranteed minimum monthly pension of Rs. 1,000 or Rs. 2,000 or Rs. 3,000 or Rs. 4,000 or Rs. 5,000 at the age of 60 years.

Q14. All the subscribers would receive the guaranteed minimum monthly pension of Rs. 1,000 or Rs. 2,000 or Rs. 3,000 or Rs. 4,000 or Rs. 5,000 at the age of __________ years under Atal Pension Yojana.
(a) 70 years
(b) 50 years
(c) 40 years
(d) 60 years
(e) 80 years

S14. Ans.(d)
Sol. APY was launched on 9th May 2015 by the Prime Minister. APY is open to all saving bank/post office saving bank account holders in the age group of 18 to 40 years and the contributions differ, based on pension amount chosen.  Subscribers would receive the guaranteed minimum monthly pension of Rs. 1,000 or Rs. 2,000 or Rs. 3,000 or Rs. 4,000 or Rs. 5,000 at the age of 60 years.

Q15. Name the scheme, which is a Pension Scheme announced by the Government of India exclusively for the senior citizens aged 60 years and above which is available from 4th May, 2017. 
(a) Pradhan Mantri Mudra Yojana
(b) Pradhan Mantri Vaya Vandana Yojana
(c) Pradhan Mantri Jan Dhan Yojana
(d) Pradhan Mantri Suraksha Bima Yojana
(e) Pradhan Mantri Jeevan Jyoti Bima Yojana