1. Consider the following statements: 1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country. 2. NPCI has launched RuPay, a card payment scheme.
Which of the statements given above is/are correct?
1 only
2 only
Both 1 and 2
Neither 1 nor 2
2. Which of the following is a most likely consequence of implementing the 'Unified Payments Interface (UPI)'?
Mobile wallets will not be necessary for online payments.
Digital currency will totally replace the physical currency in about two decades.
FDI inflows will drastically increase.
Direct transfer of subsidies to poor people will become very effective.
3. Which of the following statements is/are correct regarding the Monetary Policy Committee (MPC)? 1. It decides the RBI's benchmark interest rates. 2. It is a 12-member body including the Governor of RBI and is reconstituted every year. 3. It functions under the chairmanship of the Union Finance Minister.
Select the correct answer using the code given below:
1 and 2 only
3 only
2 and 3 only
4. What is the purpose of setting up of Small Finance Banks (SFBs) in India? 1. To supply credit to small business units 2. To supply credit to small and marginal farmers
3. To encourage young entrepreneurs to set up business particularly in rural areas.
1 and 3 only
1, 2 and 3
5. Who among the following can join the National Pension System (NPS)?
Resident Indian citizens only
Persons of age from 21 to 55 only
All State Government employees joining the services after the date of notification by the respective State Governments
All Central Government employees including those of Armed Forces joining the services on or after 1st April, 2004