3. Which of the following benefits are provided under the Pradhan Mantri Jan Dhan Yojana scheme?
1) Accidental Insurance Cover
2) Free Health Insurance for the entire family
3) RuPay Debit Card
4) Overdraft Facility

Answer: C
Explanation
● In 2014, the government launched Pradhan Mantri Jan Dhan Yojana (PMJDY) to bring about
comprehensive financial inclusion in the country.
● PMJDY envisages universal access to banking facilities with at least one basic banking
account for ‘every adult’, financial literacy, access to credit, insurance and pension
facility.
Features of PMJDY
● Under the scheme, a basic savings bank deposit (BSBD) account can be opened in any
bank branch or Business Correspondent (Bank Mitra) outlet, by persons not having any
other account.
● There is no requirement to maintain any minimum balance in PMJDY accounts. Hence
statement 1 is correct.
● Interest is earned on the deposit in PMJDY accounts. Hence statement 2 is incorrect.
● Rupay Debit card is provided to PMJDY account holders.
● Accident Insurance Cover of Rs.2 lakh is available with RuPay card issued to the PMJDY
account holders.
● An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.

● PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti
Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pension
Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.

4. Which of the following statements about the FATF is incorrect?

Answer: D
Explanation
● The Financial Action Task Force (FATF) is an intergovernmental organization that
designs and promotes policies and standards to combat financial crime.
● The FATF sets standards or recommendations for countries to achieve in order to plug the
holes in their financial systems and make them less vulnerable to illegal financial activities.
● Recommendations of the FATF target
○ Money laundering
○ Terrorist financing
○ Other threats to the global financial system.
● The FATF was created in 1989 by the G7 countries and is headquartered in Paris.
● There are 37 members, including India and two regional organizations - European
Commission and the Gulf Cooperation Council.
● The decision-making body of the FATF, known as its plenary, meets thrice a year. Its
decisions are taken by consensus.
What are FATF’s ‘grey’ and ‘black’ lists?
● At the end of every plenary meeting, FATF comes out with two lists of countries.
● The grey list countries are designated as “jurisdictions under increased monitoring”,
working with the FATF to counter criminal financial activities.
○ For such countries, the watchdog does not tell other members to carry out due-
diligence measures vis-a-vis the listed country but does tell them to consider the
risks such countries possess. Currently, more than 20 countries such as Bulgaria,
Cameroon, Democratic Republic of the Congo, Croatia, Philippines, South Africa,
Vietnam, etc. are on the grey list.

● Black list means countries designated as ‘high-risk jurisdictions subject to call for
action’.
○ In this case, the countries have considerable deficiencies in their AML/CFT (anti-
money laundering and counter terrorist financing) regimens and the body calls on
members and non-members to apply enhanced due diligence.
○ In the most serious cases, members are told to apply counter-measures such as
sanctions on the listed countries. Currently, North Korea, Iran and Myanmar are
on the black list.

● Being listed under the FATF’s lists makes it hard for countries to get aid from
organisations like the International Monetary Fund (IMF), Asian Development Bank (ADB),
and the European Union. It may also affect capital inflows, foreign direct investments,
and portfolio flows.

5. Consider the following statements about the “Smart Cities Mission”.

1. The objective of this scheme is to give decent quality of life for urban citizens through smart
solutions.
2. The scheme had given a standard definition for a smart city.
3. The implementation of the mission at the city level will be done by the urban local bodies.
4. The mission is operated as a Central sector scheme.

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Answer: A
Explanation
● The Smart Cities Mission was launched in 2015.
● The main objective of the Mission is to promote cities that provide core infrastructure, clean
and sustainable environment and give a decent quality of life to their citizens through the
application of ‘smart solutions’. Hence, statement 1 is correct.
● The Mission aims to drive economic growth and improve quality of life through
comprehensive work on social, economic, physical and institutional pillars of the city.
● The focus is on sustainable and inclusive development by creation of replicable models
which act as lighthouses to other aspiring cities.
Coverage
● The mission will cover 100 cities that have been distributed among the States /Union
Territories (UT) on the basis of an equitable criteria.
● Each State/UT will have a certain number of potential Smart Cities, with each State/UT
having at least one.
Funding
● The Mission is operated as a Centrally Sponsored Scheme. The Central Government gives
financial support on an average Rs.100 crore per city per year. Hence, statement 4 is
incorrect.
● An equal amount on a matching basis is to be provided by the State/Urban Local Bodies
(ULBs).
● Additional resources are to be raised through convergence, from ULBs’ own funds, grants
under Finance Commission, innovative finance mechanisms such as Municipal Bonds, other
government programs and borrowings.
● Emphasis has been given on the participation of the private sector through Public Private
Partnerships (PPP).
What are Smart Cities?
● There is no standard definition or template of a smart city. Hence, statement 2 is
incorrect.
Implementation by Special Purpose Vehicle (SPV)
● The implementation of the Mission at the City level will be done by a Special Purpose
Vehicle (SPV) created for the purpose. Hence, statement 3 is incorrect.
● The SPV will plan, appraise, approve, release funds, implement, manage, operate, monitor
and evaluate the Smart City development projects.
● Each Smart City will have a SPV which will be headed by a full time CEO and have nominees
of Central Government, State Government and ULB on its Board.
● The SPV will be a limited company incorporated under the Companies Act, 2013 at the city-
level, in which the State/UT and the ULB will be the promoters having 50:50 equity
shareholding.

1. Biofortification contributes to addressing hidden hunger by

Answer: C
Explanation
● Biofortification is the process of improving the nutritional quality of food crops.
Hence Option C is correct.
● This can be achieved through agronomic practices, conventional breeding or
biotechnology-based approaches like genetic engineering and genome editing.
● Biofortification of staple crops such as rice is intended as a sustainable, cost-effective and
food-based means of delivering target micronutrients to populations who do not have
access to or cannot afford diverse diets and other existing interventions such as fortified
foods and supplementation.
● Biofortification is a promising approach to addressing hidden hunger, which is a form of
malnutrition caused by deficiencies in essential micronutrients.

2. Mitra Shakti is a bilateral military exercise between India and which of the following countries?