Q370. Who founded the Grameen Bank model associated with modern microfinance in Bangladesh?
[SSC CGL Tier I, 26 Sep, Shift 1 2024]
A. Adam Smith
B. Muhammad Yunus
C. David Ricardo
D. Jeremy Bentham
Answer: (B) Muhammad Yunus
Explanation: Muhammad Yunus initiated Grameen-style microcredit efforts in Bangladesh, leading to an institutional model offering small loans to underserved borrowers. The approach became globally influential, although microfinance outcomes depend heavily on responsible lending practices.
Q369. Under the original 2024 MUDRA scheme bands, which programme offered eligible collateral-free microenterprise loans up to ₹10 lakh?
[SSC CGL Tier I, 24 Sep, Shift 2 2024]
A. Stand-Up India
B. Jan Dhan Yojana
C. National Strategy for Financial Inclusion
D. Pradhan Mantri MUDRA Yojana
Answer: (D) Pradhan Mantri MUDRA Yojana
Explanation: Pradhan Mantri MUDRA Yojana provided access to collateral-free loans for eligible microenterprises through member lending institutions. The ceiling in this 2024 exam item reflects the scheme’s then-standard bands and should be interpreted historically.
Q368. In which year did the statutory amendment establishing India’s flexible inflation-targeting framework occur?
[SSC CGL Tier I, 23 Sep, Shift 1 2024]
A. 2010
B. 2014
C. 2016
D. 2020
Answer: (C) 2016
Explanation: The RBI Act was amended in 2016 to create a formal inflation-targeting framework and statutory Monetary Policy Committee. The framework sets a notified inflation objective for RBI policy decisions.
Q367. Which statement best distinguishes community SHGs from formal microfinance institutions?
[SSC CGL Tier I, 23 Sep, Shift 3 2024]
A. SHGs are normally small community groups; MFIs are formal financing organisations
B. All SHGs must be listed companies
C. MFIs cannot have borrowers
D. SHGs must operate national clearing houses
Answer: (A) SHGs are normally small community groups; MFIs are formal financing organisations
Explanation: Self-help groups are generally small membership-based collectives built around savings and mutual support. Microfinance institutions are organised providers of financial services, often operating across multiple communities and subject to relevant registration and regulation.
Q366. Which term refers to provision of small-scale finance to people with limited access to ordinary banks?
[SSC CGL Tier I, 19 Sep, Shift 2 2024]
A. Sovereign wealth management
B. Microfinance
C. Large-cap investing
D. International balance-sheet netting
Answer: (B) Microfinance
Explanation: Microfinance provides small loans and potentially other financial services to clients with limited access to conventional banks. It often supports livelihood activities but requires transparent terms and reasonable repayment practices.
Q365. According to the 2024 SSC paper, the money supply at a specific instant is classified as what?
[SSC CGL Tier I, 18 Sep, Shift 1 2024]
A. A flow variable
B. A stock variable
C. An immeasurable concept
D. A rate of inflation
Answer: (B) A stock variable
Explanation: Money supply is measured as the quantity of money outstanding at a particular point in time, making it a stock concept. Spending and income over a period are instead flows.
Q364. Which of the following is not generally a principal global vehicle currency: euro, yen or pound, where the US dollar is absent?
[WBCS Prelims 2024]
A. Euro
B. Japanese yen
C. Pound sterling
D. None of these is the leading US-dollar vehicle currency
Answer: (D) None of these is the leading US-dollar vehicle currency
Explanation: A vehicle currency acts as an intermediary in foreign exchange dealings. The US dollar is the most widely used global vehicle currency, so the examination selected none of the listed alternatives as the principal answer.
Q363. Arrange these banking milestones chronologically:
I. First major nationalisation,
II. Second major nationalisation,
III. RRB establishment,
IV. NABARD establishment.
[UPPSC RO/ARO, 11 Feb 2024]
A. IV–II–III–I
B. III–II–I–IV
C. I–III–II–IV
D. I–II–IV–III
Answer: (C) I–III–II–IV
Explanation: Fourteen banks were nationalised in 1969; regional rural banks began in 1975; six additional banks were nationalised in 1980; and NABARD was set up in 1982. This yields the order I, III, II, IV.
Q362. What is PIN short for when used to authenticate banking transactions?
[UPPSC RO/ARO, 11 Feb 2024]
A. Postal Index Number
B. Permanent Identification Number
C. Personal Identification Number
D. None of these
Answer: (C) Personal Identification Number
Explanation: A personal identification number is a confidential numeric credential that helps authenticate the user of a payment card or banking channel. It should not be disclosed because it protects access to transactional services.
Q361. Which of the following is not a commercial bank?
[SSC MTS, 11 Nov Shift 1 2024]
A. State Bank of India
B. ICICI Bank
C. DBS Bank
D. NABARD
Answer: (D) NABARD
Explanation: NABARD is a specialised development financial institution supporting agriculture and rural credit. The other named institutions provide commercial banking services. Its central functions include refinance, development initiatives and certain supervisory roles.
