Home › Exam notes › IBPS Banking › Government Finance Schemes

Government Finance Schemes

Banking / Economy Awareness · Current Banking Awareness

Overview

Government finance schemes extend accounts, insurance, pensions and credit to underserved groups; exams test their purpose, year and key features.

Key points

PM Jan Dhan Yojana (2014): basic bank accounts with RuPay debit cards.
PM Jeevan Jyoti Bima Yojana: life cover of ₹2 lakh at ₹436 a year; PM Suraksha Bima Yojana: accident cover of ₹2 lakh at ₹20 a year.
Atal Pension Yojana (2015): guaranteed pension of ₹1,000 to ₹5,000 a month; regulated by PFRDA.
PM MUDRA Yojana (2015): loans to micro enterprises in Shishu, Kishore and Tarun categories.
Stand-Up India (2016): loans for SC/ST and women entrepreneurs; PM SVANidhi (2020): working-capital loans for street vendors.

Explanation

Insurance schemes are renewed annually through auto-debit from savings accounts.
MUDRA loans are given by banks, NBFCs and MFIs and refinanced through MUDRA.
Scheme limits may be revised — check the latest official guidelines.
Many schemes are linked to Jan Dhan accounts.

Step by step

Identify the institution, rule or instrument asked.
Recall its definition, year, limit or function from a table.
Eliminate options from similar institutions or older rules.

Examples

Annual premium of PMSBY → ₹20.
Pension range under Atal Pension Yojana → ₹1,000 to ₹5,000 per month.
MUDRA loan categories → Shishu, Kishore, Tarun.

Traps and advanced points

Trap: Mixing PMJJBY (life) and PMSBY (accident).
Trap: Giving APY to IRDAI instead of PFRDA.
Trap: Wrong launch years.

Quick revision

PMJDY 2014; APY and MUDRA 2015.
PMSBY ₹20; PMJJBY ₹436.
Stand-Up India 2016; SVANidhi 2020.

Practice MCQs

PM Jan Dhan Yojana was launched in —
1. 2016
2. 2019
3. 2012
4. 2014
Read chapter notes · Similar questions
Show answer
Answer: (d) 2014. 2014.
PM Jan Dhan Yojana mainly provides —
1. scholarships
2. pensions only
3. basic bank accounts
4. housing
Read chapter notes · Similar questions
Show answer
Answer: (c) basic bank accounts. Financial inclusion.
Atal Pension Yojana was launched in —
1. 2018
2. 2020
3. 2013
4. 2015
Read chapter notes · Similar questions
Show answer
Answer: (d) 2015. 2015.
Atal Pension Yojana is regulated by —
1. NABARD
2. IRDAI
3. PFRDA
4. SEBI
Read chapter notes · Similar questions
Show answer
Answer: (c) PFRDA. PFRDA.
PM MUDRA Yojana provides loans to —
1. large corporates
2. governments
3. foreign firms
4. micro enterprises
Read chapter notes · Similar questions
Show answer
Answer: (d) micro enterprises. Shishu, Kishore, Tarun.
The three MUDRA loan categories are —
1. Gold, Silver, Bronze
2. A, B, C
3. Shishu, Kishore, Tarun
4. Small, Medium, Large
Read chapter notes · Similar questions
Show answer
Answer: (c) Shishu, Kishore, Tarun. Shishu, Kishore, Tarun.
Stand-Up India (2016) supports —
1. SC/ST and women entrepreneurs
2. only exporters
3. only farmers
4. only students
Read chapter notes · Similar questions
Show answer
Answer: (a) SC/ST and women entrepreneurs. Greenfield enterprises.
PM SVANidhi (2020) provides working-capital loans to —
1. banks
2. IT firms
3. exporters
4. street vendors
Read chapter notes · Similar questions
Show answer
Answer: (d) street vendors. Street vendors.
PM Jeevan Jyoti Bima Yojana provides —
1. housing loans
2. education loans
3. life cover
4. crop insurance
Read chapter notes · Similar questions
Show answer
Answer: (c) life cover. Life insurance.
PM Suraksha Bima Yojana provides —
1. accident cover
2. life cover only
3. pension
4. health loans
Read chapter notes · Similar questions
Show answer
Answer: (a) accident cover. Accident insurance.