1. In September 2018, the government has announced that all formal sector workers earning a monthly salary is eligible to get gratuity only after he/she has worked with a below ------ accounts with Aadhaar numbers.

A. Rs. 15000 B. Rs. 20000 C. Rs. 30000 D. Rs. 10000 E. Rs. 25000

Answer: Option A
Explanation: All formal sector workers earning a monthly salary below Rs. 15000 should link their provident fund (PF) accounts with their Aadhaar numbers. PF accounts are managed by the Employees' Provident Fund Organisation (EPFO). At present, the minimum pension under EPS (Employees' Pension Scheme) is Rs. 1000 per month and an employee can receive a pension only after a minimum of 10 years of service.
2. The workers of the unorganized sector would get an assured monthly pension of Rs 3,000 under the Pradhan Mantri Shram-Yogi Maan dhan scheme after they attain the age of ----.

A. 70 Years B. 60 Years C. 65 Years D. 62 Years E. 58 Years

Answer: Option B
Explanation: As per Interim Budget, 2019-20, the workers of the unorganized sector would get an assured monthly pension of Rs. 3,000 under the Pradhan Mantri Shram-Yogi Maan dhan scheme, after they attain the age of 60 years.
3. Reserve Bank of India has announced to operationalize ‘Net stable funding ratio (NSFR)’ norms for banks from which date?

A. 1 January, 2019 B. 1 February, 2019 C. 1 April, 2020 D. 1 June, 2019 E. 1 June, 2020

Answer: Option C
Explanation: RBI announced the date of its implementation of the Net Stable Funding Ration (NSFR) norms to be from April 1, 2020.
4. Union government has recently signed an $85 million loan agreement with which financial agency to promote skill development in Odisha?

A. World Bank B. International Monetary Fund C. Asian Development Bank D. New Development Bank E. None of these

Answer: Option C
Explanation: In December 2018, the Government of India and the Asian Development Bank (ADB) signed an $85 million loan in New Delhi, under the Odisha Skill Development Project to promote skill development in Odisha. Under this project, the World Skill Center (WSC), an advanced skill training center would be established in Bhubaneswar, Odisha.
5. Which state launched the Rs 50,000-crore farm debt- waiver scheme named ‘Jai Kisan RinMukti Yojana’ on 15 January 2019

A. Madhya Pradesh B. Uttar Pradesh C. Arunachal Pradesh D. Andhra Pradesh E. Himachal Pradesh

Answer: Option A
Explanation: Madhya Pradesh’s Chief Minister Kamal Nath launched the Rs 50,000-crore farm debt-waiver scheme named ‘Jai Kisan RinMukti Yojana’ on 15 January 2019. The state cabinet gave its nod to waive crop loans of 55 lakh small and marginal farmers on 5 January 2019. The loan waiver forms could be submitted till 5 February 2019 and farmers would start getting the benefits from 22 February 2019.

1. Pradhan Mantri Vaya Vandana Yojana (PMVVY) is a pension plan for senior citizens managed and operated by Life Insurance Corporation (LIC). Under this scheme pension will be paid for how many years?

A. 5 years B. 10 years C. 6 years D. 7 years E. 8 years

Answer: Option B
Explanation: Pradhan Mantri Vaya Vandana Yojana (PMVVY) was launched by the Government of India in 2017. PMVVY is a pension scheme for senior citizens aged 60 years and above. Life Insurance Corporation (LIC) of India has been authorized by the government of India to implement the PMVVY. It provides an assured return of 8% p.a. payable monthly for 10 years.
2. Which of the following is an internationally recognized identification code for banks around the world, commonly used for international wire transfers?

A. BIN Code B. IFCS code C. IBC code D. Swift Code E. CHIPS

Answer: Option D
Explanation: Swift- Society for Worldwide Interbank Financial Telecommunication code.An internationally recognized identification code for banks around the world. SWIFT codes are most commonly used for international wire transfers and are comprised of 8 or 11 alphanumeric characters.
3. Which of the following exchange/s comes under the Indian Secondary Market?

A. Regional stock exchanges B. BSE and NSE C. Over the Counter Exchange of India D. The Inter-Connected Stock Exchange of India E. All of the above

Answer: Option E
Explanation: The Indian secondary market now has a four-tier form as follows: Regional stock exchanges The National Stock Exchanges (BSE and NSE) The Over the Counter Exchange of India (OTCEI) The Inter-Connected Stock Exchange of India (ISE)
4. What does the term 'Financial Exclusion' refers to, in the banking system?

A. Exclude the Finance B. Lack of Access to Financial Services C. Overlooking financial impacts of the services. D. Instability of Financial Services E. None of the above

Answer: Option B
Explanation: Financial exclusion can be defined as the unavailability of banking services to people with low or non-income. It is believed to be one-factor preventing poor people leave out poverty.
5. The stock exchanges are defined under which of the following acts?

A. Companies Act, 2013 B. SEBI Act, 1992 C. SCRA, 1956 D. RBI Act, 1934 E. None of the above

Answer: Option C
Explanation: Stock Exchange are defined under Securities Contract (Regulation) Act, 1956 [SCRA] They are defined as anybody of individuals, whether incorporated or not, constituted for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities. Stock exchange could be a regional stock exchange whose area of operation/jurisdiction is specified at the time of its recognition or national exchanges, which are permitted to have nationwide trading since inception.

1. Which of the following bank has decided to link interest rates on the savings bank account to an external benchmark from 1st May 2019?

A. HDFC Bank B. Indian Overseas Bank C. Union Bank of India D. State Bank of India E. Bank of Baroda

Answer: Option D
Explanation: State Bank of India (SBI) has decided to link interest rates on the savings bank account to an external benchmark from 1st May 2019. With this SBI becomes the first Indian bank to link both deposit rate and lending rate to an external benchmark.
2. How many rupees will be transferred by the Reserve Bank of India (RBI) as an interim surplus to the central government for the half-year (till 31st December 2018)?

A. 28000 crores B. 10000 Crores C. 50000 Crores D. 2000 Crores E. 1000 Crores

Answer: Option A
Explanation: The Reserve Bank of India (RBI) will transfer an interim surplus of 28,000 crore rupees to the central government for the half-year (ended 31st December 2018).The decision has been based on a limited audit review and after applying the extent economic capital framework.
3. The “Pradhan Mantri Kisan Samman Nidhi (PM- KISAN)” will cost the government ----- per year.

A. Rs 15,000 crore B. Rs 30,000 crore C. Rs 40,000 crore D. Rs 60,000 crore E. Rs 75,000 crore

Answer: Option E
Explanation: To provide assured income support to the small and marginal farmers, the Government is launching a programme namely “Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)”. Under this programme, vulnerable landholding farmer families, having cultivable land up to 2 hectares, will be provided direct income support at the rate of Rs. 6,000 per year. This income support will be transferred directly into the bank accounts of beneficiary farmers, in three equal installments of Rs. 2,000 each. This programme will be funded by the Government of India. Around 12 crore small and marginal farmer families are expected to benefit from this. The programme would be made effective from 1st December 2018 and the first installment for the period up to 31st March 2019. This programme will entail an annual expenditure of Rs. 75,000 crore.
4. As per the Interim Budget, what was India’s Debt to GDP ratio in the year 2017-18?

A. 46.5% B. 44.4% C. 40% D. 45% E. 42%

Answer: Option A
Explanation: India’s Debt to GDP ratio was 46.5% in year 2017-18. The FRBM Act prescribes that the Debt to GDP ratio of the Govt of India should be brought down to 40% by 2024-25.
5. How much amount has been allocated for 'Pradhan Mantri Shram-Yogi Maan dhan' in the Interim Budget 2019-20?

A. 400 crore B. 450 crore C. 500 crore D. 600 crore E. 750 crore

Answer: Option C
Explanation: The Government has proposed to launch a mega pension yojana 'Pradhan Mantri Shram-Yogi Maan dhan' for the unorganized sector workers with monthly income uptoRs. 15,000. This pension yojana shall provide them an assured monthly pension of Rs. 3,000 from the age of 60 years on a monthly contribution of a small affordable amount during their working age. A sum of Rs. 500 crore has been allocated for the Scheme.