38 - Financial Inclusion

Banking Awareness Multiple Choice Questions (MCQs) and Answers with explanation on Financial Inclusion for IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Bank

1. Which one of the is PMJDY related to?

[A] Financial inclusion
[B] Bank
[C] Literacy
[D] Female education

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2. What is the amount for accidental insurance cover in PMJDY?

[A] Rs. 1 lac
[B] Rs. 2 lac
[C] Rs. 50 lac
[D] Rs. 10 lac

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3. What is/are the main aim of financial inclusion?

[A] to maintain a certain quantity of liquid assets with themselves at any point of time of their total time and
[B] to control money supply in the economy
[C] to provide basic banking services to all section of society in urban areas or rural areas at affordable cost
[D] Both A and B

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4. Financial inclusion means which of the following?

[A] retail banking
[B] bringing all poor people under banking net
[C] financial statements
[D] wholesale banking

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5. Which of the following efforts fall under Financial inclusion plan of RBI/Government?

[A] Nationalization of banks
[B] Public Sector Lending targets
[C] Zero Balance accounts
[D] All of the above

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6. Which of the following is not true regarding Financial Inclusion plan?

[A] Simplified KYC norms for accounts opening
[B] Mandatory branches in unbanked villages
[C] BSBDA accounts with minimum balance criteria
[D] Micro branches to be opened in rural area

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7. What is the full form of FINO?

[A] Financial Investment Network and Operations
[B] Farmers’ Investment Network and Operations
[C] Farmers’ Inclusion Network and Operations
[D] Financial Inclusion Network and Operations

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8. Who among the following is a banking corresponding agent?

[A] An authorized representative of bank who offer banking services in unbanked areas
[B] Any person who offer banking services in unbanked areas
[C] An authorized representative of bank who makes profits for banks
[D] None of the above

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9. Which of the following is true regarding BCA?

[A] BCA works for Insurance companies
[B] A BCA can provide services to only 1 bank
[C] A BCA can provide services to more than 1 bank
[D] None of the above

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10. Financial Inclusion means provision of which of the following?

[A] Financial services like payments, remittances, savings, loans, etc at affordable cost.
[B] Ration at affordable cost
[C] House at affordable cost
[D] Education at affordable cost

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