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Daily Current Affairs Quiz
6 December, 2024
1. What is the primary objective of the PM Vidyalaxmi scheme?
A. Provide free education to all students
B. Offer employment to graduates
C. Support higher education for meritorious students
D. Loan waiver for all students
E. Provide housing loans for students
Answer: C. Support higher education for meritorious students
Explanation: PM Vidyalaxmi aims to offer financial aid for meritorious students pursuing higher education.
2. What is the maximum family income eligibility for the PM Vidyalaxmi scheme?
A. ₹5 lakh
B. ₹6 lakh
C. ₹7 lakh
D. ₹8 lakh
E. No income limit
Answer: D. ₹8 lakh
Explanation: Students with an annual family income of ₹8 lakh or less are eligible for the scheme.
3. What type of loans does the PM Vidyalaxmi scheme provide?
A. Interest-free loans
B. Collateral-free and guarantor-free loans
C. Loans only for private colleges
D. Foreign education loans
E. Credit card loans
Answer: B. Collateral-free and guarantor-free loans
Explanation: Students can avail of loans without providing collateral or guarantors.
4. Which body ranks the eligible institutions for the PM Vidyalaxmi scheme?
A. AICTE
B. NITI Aayog
C. UGC
D. NIRF
E. RBI
Answer: D. NIRF
Explanation: Institutions ranked by the National Institutional Ranking Framework (NIRF) are eligible.
5. What is the interest subvention rate provided by the PM Vidyalaxmi scheme?
A. 1%
B. 2%
C. 3%
D. 4%
E. 5%
Answer: C. 3%
Explanation: A 3% interest subvention is offered during the moratorium period for loans up to ₹10 lakh.
6. What does the RBI’s recent monetary policy review focus on?
A. Bank mergers
B. Digital payments
C. Liquidity management
D. Foreign exchange reserves
E. Loan disbursement
Answer: C. Liquidity management
Explanation: The monetary policy review focused on improving liquidity in the banking sector.
7. What is the current CRR after the recent RBI policy change?
A. 3.5%
B. 4%
C. 4.5%
D. 5%
E. 5.5%
Answer: B. 4%
Explanation: The CRR was reduced from 4.5% to 4%.
8. How much liquidity is expected to be released after the CRR cut?
A. ₹58,000 crore
B. ₹75,000 crore
C. ₹85,000 crore
D. ₹1.16 lakh crore
E. ₹1.5 lakh crore
Answer: D. ₹1.16 lakh crore
Explanation: The CRR cut is expected to infuse ₹1.16 lakh crore into the banking system.
9. Which tool did RBI introduce to track mule accounts?
A. FraudWatch.AI
B. CyberScan.AI
C. MuleHunter.AI
D. MoneyTrack.AI
E. AccountGuard.AI
Answer: C. MuleHunter.AI
Explanation: MuleHunter.AI is designed to detect mule accounts used in financial frauds.
10. Which city is NOT among the top three for mule account activity?
A. Bhubaneswar
B. Lucknow
C. Navi Mumbai
D. Bengaluru
E. None of the above
Answer: D. Bengaluru
Explanation: Bhubaneswar, Lucknow, and Navi Mumbai have the highest mule account activity.
11. What is the revised maximum loan amount eligible for collateral-free agriculture loans?
A. ₹1 lakh
B. ₹1.5 lakh
C. ₹1.6 lakh
D. ₹2 lakh
E. ₹2.5 lakh
Answer: D. ₹2 lakh
Explanation: The collateral-free loan limit for farmers was increased from ₹1.6 lakh to ₹2 lakh.
12. Under which scheme is maize cultivation encouraged?
A. PM-KISAN
B. National Crop Initiative
C. Crop Diversification Programme (CDP)
D. Agricultural Credit Guarantee Scheme
E. Green Revolution Scheme
Answer: C. Crop Diversification Programme (CDP)
Explanation: CDP encourages farmers to shift from paddy to high-value crops like maize.
13. What is the main reason behind the CRR cut by RBI?
A. Inflation control
B. Stimulate lending by banks
C. Increase foreign reserves
D. Boost stock market investments
E. Encourage international trade
Answer: B. Stimulate lending by banks
Explanation: The CRR cut provides more funds to banks for lending and economic stimulation.
14. What is the maximum interest rate ceiling for FCNR(B) deposits with a 3-5 year maturity?
A. Overnight ARR + 100 bps
B. Overnight ARR + 200 bps
C. Overnight ARR + 300 bps
D. Overnight ARR + 400 bps
E. Overnight ARR + 500 bps
Answer: E. Overnight ARR + 500 bps
Explanation: The RBI set a maximum rate of ARR + 500 bps for deposits with a 3-5 year maturity.
