2. With reference to Paramparagat Krishi Vikas Yojana (PKVY), consider the following statements.
1) PKVY aims at promoting organic farming in the country.
2) The scheme focuses on end to end support to organic farmers.
3) The scheme promotes the National Programme for Organic Production (NPOP) form of organic certification.
1) PKVY aims at promoting organic farming in the country.
2) The scheme focuses on end to end support to organic farmers.
3) The scheme promotes the National Programme for Organic Production (NPOP) form of organic certification.
How many of the above statement(s) is/are correct?
Anonymous Quiz
6%
A. Only one
35%
B. Only two
58%
C. All three
2%
D. None
Answer: B
Explanation:
● The Government of India has been promoting organic farming in the country through a dedicated scheme namely Paramparagat Krishi Vikas Yojana (PKVY) since 2015-16. Hence, statement 1 is correct.
● The scheme stresses on end to end support to organic farmers i.e from production to certification and marketing. Hence, statement 2 is correct.
● Under PKVY, farmers are provided financial assistance of Rs 50,000 per hectare/3 years.
● The scheme promotes the Participatory Guarantee System (PGS) for India (PGS-India) form of organic certification that is built on mutual trust, locally relevant and mandates the involvement of producers and consumers in the process of certification. PGS–India operates outside the framework of Third Party Certification. Hence, statement 3 is incorrect.
○ The National Programme for Organic Production (NPOP) ensures that products grown without chemical fertilizers and pesticides can be certified and recognized not only in the domestic market but also for export, particularly to the EU and Switzerland.
○ The NPOP has been officially acknowledged by international bodies, thereby enhancing the acceptance of Indian organic products globally.
Funding Pattern:
● Funding pattern under the scheme is in the ratio of 60:40 by the Central and State Governments respectively.
● In case of North Eastern and Himalayan States, Central Assistance is provided in the ratio of 90:10 (Centre: State) and for Union Territories, the assistance is 100%.
Explanation:
● The Government of India has been promoting organic farming in the country through a dedicated scheme namely Paramparagat Krishi Vikas Yojana (PKVY) since 2015-16. Hence, statement 1 is correct.
● The scheme stresses on end to end support to organic farmers i.e from production to certification and marketing. Hence, statement 2 is correct.
● Under PKVY, farmers are provided financial assistance of Rs 50,000 per hectare/3 years.
● The scheme promotes the Participatory Guarantee System (PGS) for India (PGS-India) form of organic certification that is built on mutual trust, locally relevant and mandates the involvement of producers and consumers in the process of certification. PGS–India operates outside the framework of Third Party Certification. Hence, statement 3 is incorrect.
○ The National Programme for Organic Production (NPOP) ensures that products grown without chemical fertilizers and pesticides can be certified and recognized not only in the domestic market but also for export, particularly to the EU and Switzerland.
○ The NPOP has been officially acknowledged by international bodies, thereby enhancing the acceptance of Indian organic products globally.
Funding Pattern:
● Funding pattern under the scheme is in the ratio of 60:40 by the Central and State Governments respectively.
● In case of North Eastern and Himalayan States, Central Assistance is provided in the ratio of 90:10 (Centre: State) and for Union Territories, the assistance is 100%.
3. With reference to the Pradhan Mantri Mudra Yojana (PMMY), consider the following statements.
1) PMMY provides loans to the non-corporate, non-farm small/micro enterprises.
2) The loans are awarded on a collateral-free basis.
3) Under PMMY, loans are extended only by Regional Rural Banks (RRBs)
1) PMMY provides loans to the non-corporate, non-farm small/micro enterprises.
2) The loans are awarded on a collateral-free basis.
3) Under PMMY, loans are extended only by Regional Rural Banks (RRBs)
Which of the statements given above is/are correct?
Anonymous Quiz
68%
A. 1 and 2 only
10%
B. 1 and 3 only
11%
C. 2 and 3 only
12%
D. 1, 2 and 3
Answer: A
Explanation
● Launched in 2015 to promote entrepreneurship, Pradhan Mantri Mudra Yojana (PMMY) provides loans upto Rs. 10 lakh to the non-corporate, non-farm small/micro enterprises. Hence, statement 1 is correct.
● PMMY aims to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them.
● Under PMMY collateral free loans of upto Rs. 10 Lakh are extended by Member Lending Institutions (MLIs) viz Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Non Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) etc. Hence, statement 2 is correct and statement 3 is incorrect.
● The loans are given for income generating activities in manufacturing, trading and services sectors and for activities allied to agriculture.
● Mudra loans are offered in four categories namely, ‘Shishu’, ‘Kishore’, ‘Tarun’ and ‘Tarun Plus’ which signifies the stage of growth or development and funding needs of the borrowers:-
○ Shishu : covering loans upto Rs. 50,000/-
○ Kishore : covering loans above Rs. 50,000/- and upto Rs. 5 lakh
○ Tarun : covering loans above Rs. 5 lakh and upto Rs. 10 lakh.
○ Tarun Plus: covering loans above Rs. 10 lakh and upto Rs. 20 lakh. (would be available to entrepreneurs who have availed and successfully repaid previous loans under the Tarun category)
● With an objective to promote entrepreneurship among the new generation aspiring youth, it is ensured that more focus is given to Shishu Category loans and then Kishore and Tarun categories.
Explanation
● Launched in 2015 to promote entrepreneurship, Pradhan Mantri Mudra Yojana (PMMY) provides loans upto Rs. 10 lakh to the non-corporate, non-farm small/micro enterprises. Hence, statement 1 is correct.
● PMMY aims to “fund the unfunded” by bringing such enterprises to the formal financial system and extending affordable credit to them.
● Under PMMY collateral free loans of upto Rs. 10 Lakh are extended by Member Lending Institutions (MLIs) viz Scheduled Commercial Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), Non Banking Financial Companies (NBFCs), Micro Finance Institutions (MFIs) etc. Hence, statement 2 is correct and statement 3 is incorrect.
● The loans are given for income generating activities in manufacturing, trading and services sectors and for activities allied to agriculture.
● Mudra loans are offered in four categories namely, ‘Shishu’, ‘Kishore’, ‘Tarun’ and ‘Tarun Plus’ which signifies the stage of growth or development and funding needs of the borrowers:-
○ Shishu : covering loans upto Rs. 50,000/-
○ Kishore : covering loans above Rs. 50,000/- and upto Rs. 5 lakh
○ Tarun : covering loans above Rs. 5 lakh and upto Rs. 10 lakh.
○ Tarun Plus: covering loans above Rs. 10 lakh and upto Rs. 20 lakh. (would be available to entrepreneurs who have availed and successfully repaid previous loans under the Tarun category)
● With an objective to promote entrepreneurship among the new generation aspiring youth, it is ensured that more focus is given to Shishu Category loans and then Kishore and Tarun categories.
4. Consider the following factors.
Statement -I:
Foreign Portfolio Investment (FPI) is often referred to as “hot money”.
Statement -II:
It tends to flee at the first signs of trouble in an economy.
Statement -I:
Foreign Portfolio Investment (FPI) is often referred to as “hot money”.
Statement -II:
It tends to flee at the first signs of trouble in an economy.
Which one of the following is correct in respect of the above statements?
Anonymous Quiz
75%
A. Both Statement-I & Statement-II are correct & Statement-II is correct explanation for Statement-I
13%
B. Both Statement I, Statement II are correct, Statement-II not correct explanation for Statement I
7%
C. Statement-I is correct but Statement-II is incorrect
4%
D. Statement-I is incorrect but Statement-I is correct
Answer: A
Explanation
● Foreign Portfolio Investment (FPI) means investing in the financial assets of a foreign country, such as stocks or bonds available on an exchange.
● It does not provide the investor with direct ownership of a company's assets.
● FPI is often referred to as “hot money” because of its tendency to flee at the first signs of trouble in an economy. Hence, answer is option A.
Explanation
● Foreign Portfolio Investment (FPI) means investing in the financial assets of a foreign country, such as stocks or bonds available on an exchange.
● It does not provide the investor with direct ownership of a company's assets.
● FPI is often referred to as “hot money” because of its tendency to flee at the first signs of trouble in an economy. Hence, answer is option A.
5. With reference to the Financial Services Institutions Bureau (FSIB), consider the following statements.
1) FSIB recommends persons for appointment as directors of Public Sector Banks.
2) FSIB is headed by the Governor of Reserve Bank of India.
3) It also advises the Government on evolving suitable training and development programmes for management personnel in Public Sector Banks.
1) FSIB recommends persons for appointment as directors of Public Sector Banks.
2) FSIB is headed by the Governor of Reserve Bank of India.
3) It also advises the Government on evolving suitable training and development programmes for management personnel in Public Sector Banks.
Which of the statements given above is/are correct?
Anonymous Quiz
11%
A. 1 only
67%
B. 1 and 3 only
8%
C. 2 only
15%
D. 1, 2 and 3
Answer: B
Explanation
● The Financial Services Institutions Bureau has been constituted effective from July 01, 2022, as an autonomous body of Government of India.
● It replaced the Banks Board Bureau (BBB).
● FSIB’s mandate is recommending persons for appointment as whole-time directors and non-executive chairpersons on the Board of Public Sector Banks (PSBs), Public Sector Financial Institutions (FIs) and Public Sector Insurance Companies (PSIs) and recommend measures to improve Corporate Governance in these Institutions. Hence, statement 1 is correct.
● FSIB is headed by a chairman, a central government nominee. Hence, statement 2 is incorrect.
● Other functions of the Bureau are :-
○ To advise the Government on matters relating to appointments, transfer or extension of term of office and termination of services of the said directors;
○ To advise the Government on the desired management structure at the Board level for PSBs, FIs and PSIs;
○ To build a databank containing data related to the performance of PSBs, FIs and PSIs;
○ To advise the Government on formulation and enforcement of a code of conduct and ethics for whole-time directors in PSBs, FIs and PSIs; Hence, statement 3 is correct.
○ To advise the Government on evolving suitable training and development programmes for management personnel in PSBs, FIs and PSIs
Explanation
● The Financial Services Institutions Bureau has been constituted effective from July 01, 2022, as an autonomous body of Government of India.
● It replaced the Banks Board Bureau (BBB).
● FSIB’s mandate is recommending persons for appointment as whole-time directors and non-executive chairpersons on the Board of Public Sector Banks (PSBs), Public Sector Financial Institutions (FIs) and Public Sector Insurance Companies (PSIs) and recommend measures to improve Corporate Governance in these Institutions. Hence, statement 1 is correct.
● FSIB is headed by a chairman, a central government nominee. Hence, statement 2 is incorrect.
● Other functions of the Bureau are :-
○ To advise the Government on matters relating to appointments, transfer or extension of term of office and termination of services of the said directors;
○ To advise the Government on the desired management structure at the Board level for PSBs, FIs and PSIs;
○ To build a databank containing data related to the performance of PSBs, FIs and PSIs;
○ To advise the Government on formulation and enforcement of a code of conduct and ethics for whole-time directors in PSBs, FIs and PSIs; Hence, statement 3 is correct.
○ To advise the Government on evolving suitable training and development programmes for management personnel in PSBs, FIs and PSIs
Answer: B
Explanation
MY Bharat
● Mera Yuva Bharat (MY Bharat) is an autonomous body set up by the Ministry of Youth Affairs & Sports to provide an overarching institutional mechanism powered by technology for youth development and youth-led development. Hence, answer is option B.
● Launched in 2023, the initiative aims to empower Indian youth through social mobility, educational equity, and practical skills.
● It is a 'Phygital Platform' (physical + digital) comprising physical activity along with an opportunity to connect digitally.
● Youth across the country can register on the MY Bharat portal (https://www.mybharat.gov.in/) and sign up for various opportunities and events available on the portal.
Explanation
MY Bharat
● Mera Yuva Bharat (MY Bharat) is an autonomous body set up by the Ministry of Youth Affairs & Sports to provide an overarching institutional mechanism powered by technology for youth development and youth-led development. Hence, answer is option B.
● Launched in 2023, the initiative aims to empower Indian youth through social mobility, educational equity, and practical skills.
● It is a 'Phygital Platform' (physical + digital) comprising physical activity along with an opportunity to connect digitally.
● Youth across the country can register on the MY Bharat portal (https://www.mybharat.gov.in/) and sign up for various opportunities and events available on the portal.
2. With reference to the State Disaster Response Fund (SDRF), consider the following statements.
1) SDRF is a statutory fund.
2) SDRF is entirely contributed from the states’ exchequer.
3) It shall be used for providing immediate relief to the victims as well as for disaster mitigation measures.
1) SDRF is a statutory fund.
2) SDRF is entirely contributed from the states’ exchequer.
3) It shall be used for providing immediate relief to the victims as well as for disaster mitigation measures.
How many of the above statement(s) is/are correct?
Anonymous Quiz
22%
A. Only one
60%
B. Only two
18%
C. All three
0%
D. None
Answer: A
Explanation:
● State Disaster Response Fund (SDRF) is a statutory fund constituted under the Disaster Management Act 2005 is the primary fund available with the State Government for responses to notified disasters. Hence, statement 1 is correct.
● The Central Government contributes 75% of SDRF allocation for general category States/UTs and 90% in North-East and Himalayan States. Hence, statement 2 is incorrect.
● The annual Central contribution is released in two equal installments as per the recommendation of the Finance Commission.
● SDRF shall be used only for meeting the expenditure for providing immediate relief to the victims. Hence, statement 3 is incorrect.
● The accounts of the SDRF shall be audited annually by Comptroller & Auditor General of India (CAG).
● Disasters covered under SDRF: Cyclone, Drought, Earthquake, Floods, Tsunami, Hailstorm, Landslide, Avalanche, Cloud burst, Pest attack, Frost and Cold wave.
Local Disaster
● State Government may use up to 10% of the funds available under SDRF for providing immediate relief to the victims of the natural disaster considered to be “Disaster” within the local context in the State and which is not included in the notified list of disaster of the Ministry of Home Affairs.
Explanation:
● State Disaster Response Fund (SDRF) is a statutory fund constituted under the Disaster Management Act 2005 is the primary fund available with the State Government for responses to notified disasters. Hence, statement 1 is correct.
● The Central Government contributes 75% of SDRF allocation for general category States/UTs and 90% in North-East and Himalayan States. Hence, statement 2 is incorrect.
● The annual Central contribution is released in two equal installments as per the recommendation of the Finance Commission.
● SDRF shall be used only for meeting the expenditure for providing immediate relief to the victims. Hence, statement 3 is incorrect.
● The accounts of the SDRF shall be audited annually by Comptroller & Auditor General of India (CAG).
● Disasters covered under SDRF: Cyclone, Drought, Earthquake, Floods, Tsunami, Hailstorm, Landslide, Avalanche, Cloud burst, Pest attack, Frost and Cold wave.
Local Disaster
● State Government may use up to 10% of the funds available under SDRF for providing immediate relief to the victims of the natural disaster considered to be “Disaster” within the local context in the State and which is not included in the notified list of disaster of the Ministry of Home Affairs.
3. With reference to the Petroleum and Natural Gas Regulatory Board (PNGRB), consider the following statements.
1) PGNRB is an executive body.
2) The primary objective of PNGRB is to protect the interests of consumers and entities.
3) The appeals against the decisions of the Board go before the National Company Law Tribunal.
1) PGNRB is an executive body.
2) The primary objective of PNGRB is to protect the interests of consumers and entities.
3) The appeals against the decisions of the Board go before the National Company Law Tribunal.
Which of the statements given above is/are incorrect?
Anonymous Quiz
14%
A. 1 and 2 only
43%
B. 1 and 3 only
24%
C. 2 and 3 only
19%
D. 1, 2 and 3