General Awareness PYQs

The correct answer is 2028.

In News

• India's Venus Orbiter Mission (VOM) is tentatively scheduled to be launched on March 29, 2028, onboard ISRO's LVM-3 rocket.
• The mission will explore Venus' atmosphere, surface, and interaction with the Sun.

Key Points

• The Venus Orbiter Mission (VOM) is expected to be launched on March 29, 2028, onboard ISRO's LVM-3 rocket.
• The mission will explore Venus' atmosphere, surface, and its interaction with the Sun.
• The VOM will carry 19 scientific instruments, including several international payloads.
• ISRO plans to place the spacecraft in an elliptical orbit around Venus and conduct studies for a period of five years.
• The data obtained from the mission will be processed and archived at the Indian Space Science Data Center (ISSDC).

Additional Information

• Venus Orbiter Mission (VOM)
• VOM will include payloads developed by international collaborators including Russia and Sweden.
• The mission aims to study Venus' surface, atmosphere, and ionosphere.
• ISRO's LVM-3 Rocket
• LVM-3 is a heavy-lift rocket used by ISRO for launching large payloads into space.
• It has been used for previous successful missions like the GSLV Mk III mission.
• Aerobraking
• Aerobraking will be employed for 6 to 8 months to achieve the desired low-altitude science orbit.
• This technique will help in slowing the spacecraft by passing through the Venusian atmosphere.

The correct answer is 8.2%

In News

• The Sukanya Samriddhi Yojana (SSY) currently offers an interest rate of 8.2% for Q3 2024 (July-September).

Key Points

• SSY interest rate is 8.2% for Q3 2024, revised quarterly by the Ministry of Finance.
• Highest among all small savings schemes (higher than PPF's 7.1%).
• Tax benefits: EET (Exempt-Exempt-Taxable) under Section 80C.
• Account can be opened for girls below 10 years, with a maximum deposit of ₹1.5 lakh/year.

Additional Information

• Scheme Growth:
• AUM crossed ₹1.5 lakh crore in 2024 | 3 crore+ accounts opened since 2015.
• Recent Changes:
• Extended partial withdrawal facility for higher education (up to 50% of balance).
• Other Small Savings Rates (Q3 2024):
• Senior Citizens Savings Scheme: 8.3% | PPF: 7.1%.

The correct answer is Slice

In News

• Fintech unicorn Slice merged with North East Small Finance Bank (NESFB) in November 2024, marking RBI's first approval of a fintech-NBFC merger with a bank.

Key Points

• Slice (a credit card-focused fintech) merged with Guwahati-based NESFB to create a digital-first small finance bank.
• RBI approved the merger under Section 44A of the Banking Regulation Act, 1949.
• Combined entity will serve 5 million+ customers with enhanced digital banking services.
• Slice's co-founder Rajan Bajaj appointed as MD & CEO of the merged entity.

Additional Information

• About Slice:
• Founded in 2016 | Valued at $1.5 billion | Known for its "super card".
• NESFB:
• Operates in 7 NE states | 150+ branches | Focused on financial inclusion.
• Regulatory Context:
• RBI's 2023 guidelines allowed well-run NBFCs to convert into SFBs after 3 years$.

The correct answer is ₹10,000 for UPI123Pay & ₹5,000 for UPI Lite Wallet

In News

• RBI announced enhanced transaction limits for UPI123Pay (₹10,000) and UPI Lite Wallet (₹5,000) in its October 2024 MPC meeting.

Key Points

• UPI123Pay: Maximum limit increased to ₹10,000 per transaction (from ₹5,000) for feature phone users.
• UPI Lite Wallet: Cap maintained at ₹5,000 per transaction (with ₹50,000 monthly limit).
• Aims to boost digital payments in rural areas and among elderly users.
• Part of RBI's "Payment Vision 2025" to enhance financial inclusion.

Additional Information

• UPI123Pay:
• Launched in 2022 for feature phones | Uses IVR/USSD technology.
• UPI Lite:
• Offline wallet for small-value transactions | No PIN required for sub-₹200 payments.
• Recent UPI Growth:
• Processed 14 billion+ transactions in October 2024 (worth ₹25+ lakh crore).

The correct answer is ₹2.5 crore each

In News

• RBI imposed penalties of ₹2.5 crore each on four NBFCs for non-compliance with lending norms in October 2024.

Key Points

• Penalty of ₹2.5 crore each imposed on:
• Navi Finserv
• Asirvad Microfinance
• Arohan Financial Services
• DMI Finance
• Violations included non-compliance with fair practices code and KYC norms.
• Action taken under Section 45L(1)(b) of the RBI Act, 1934.

Additional Information

• RBI's Crackdown:
• 2024 saw penalties on 12+ NBFCs totaling ₹50+ crore.
• About the NBFCs:
• Navi Finserv: Founded by Sachin Bansal | Arohan: Focuses on Eastern India.
• Recent RBI Measures:
• Stricter NPA classification norms for NBFCs (effective April 2025).

The correct answer is Kiran Rao

In News

• "Laapataa Ladies," directed by Kiran Rao, was selected as India's official entry for the 2025 Oscars.

Key Points

• Directed by Kiran Rao, "Laapataa Ladies" is a satirical comedy on rural India's bride-swapping incidents.
• Produced by Aamir Khan | Released in March 2024.
• Selected over 14 other films by the Film Federation of India for Oscar consideration.
• Kiran Rao's second directorial after "Dhobi Ghat" (2011).

Additional Information

• Film Highlights:
• Shot in Madhya Pradesh | Features newcomers Nitanshi Goel and Pratibha Ranta.
• India at Oscars:
• Last nomination: "RRR" (2023) for Best Original Song ("Naatu Naatu").
• Kiran Rao's Work:
• Co-founder of Paani Foundation | Known for promoting indie cinema.

The correct answer is 50,000 Pounds

In News

• The Booker Prize 2024 awarded £50,000 to its winner, maintaining its longstanding prize amount.

Key Points

• The Booker Prize awards £50,000 to the winning author.
• Established in 1969, it is one of the most prestigious literary awards globally.
• Open to works of fiction written in English and published in the UK/Ireland.
• 2024 winner: [Author Name] for [Book Title].

Additional Information

• Recent Winners:
• 2023: Paul Lynch (Prophet Song) | 2022: Shehan Karunatilaka (The Seven Moons of Maali Almeida).
• Judging Process:
• Panel of 5 judges selects longlist (13 books), shortlist (6), and winner.
• Indian Connections:
• Arundhati Roy (1997) and Salman Rushdie (1981) are past winners.

The correct answer is Chennai, Tamil Nadu.

In News

• Integral Coach Factory (ICF) is the largest rail coach manufacturer in the world, located in Perambur, Chennai.
• ICF manufactures LHB coaches, electric multiple units, and the semi-high-speed Vande Bharat train-sets.

Key Points

• ICF is located in Perambur, Chennai, and was established in 1955.
• It is the oldest among the five rake production units of the Indian Railways.
• ICF initially manufactured ICF coaches and now manufactures LHB coaches and electric multiple units.
• ICF also manufactures the Vande Bharat semi-high-speed train-sets.

Additional Information

• Indian Railways
• Indian Railways is one of the largest rail networks in the world, and ICF is one of its key manufacturing units.
• Indian Railways plays a vital role in transportation and infrastructure development in India.
• Vande Bharat Train-sets
• The Vande Bharat train-sets are semi-high-speed trains designed and manufactured by ICF to improve the speed and efficiency of India's rail network.
• These trains are equipped with modern amenities and are a step towards achieving better rail transportation in India.

The correct answer is Financial Stability Development Council (FSDC).

In News

• The National Strategy for Financial Inclusion (NSFI) was finalized and approved by the Financial Stability Development Council (FSDC).
• The NSFI sets the vision and key objectives for expanding financial inclusion in India.

Key Points

• The NSFI was formulated by the Reserve Bank of India under the guidance of the Financial Inclusion Advisory Committee (FIAC) for the period 2019-2024.
• The strategy was based on wide-ranging discussions and feedback from various stakeholders in the financial sector.
• The NSFI aims to improve financial inclusion in India by expanding the reach of formal financial services and ensuring their sustainability.
• The FSDC approved the document after the finalization of inputs, and it was formally released by Shri M K Jain, Deputy Governor, RBI in January 2020.

Additional Information

• Financial Inclusion
• Financial inclusion refers to the availability and accessibility of financial services to all individuals, especially those from underserved and vulnerable sections.
• It is recognized as a key enabler for achieving sustainable development and economic growth.
• United Nations SDGs
• Seven of the United Nations Sustainable Development Goals (SDGs) view financial inclusion as a key enabler for achieving sustainable development by 2030.
• National Strategy for Financial Inclusion (NSFI)
• NSFI is a comprehensive plan formulated to promote financial inclusion in India, covering the period 2019-2024.
• The strategy aims to expand access to formal financial services, reduce vulnerability to economic shocks, and increase investments in human capital.

The correct answer is 1.5 times its net owned fund (NoF).

In News

• The Reserve Bank of India (RBI) has revised the ceiling on the quantum of public deposits that deposit-taking HFCs can hold.
• The revised limit reduces the ceiling from 3 times to 1.5 times the net owned fund (NoF) for such companies.

Key Points

• RBI has reduced the ceiling for public deposits held by deposit-taking HFCs from 3 times to 1.5 times their net owned funds (NoF).
• Deposit-taking HFCs exceeding the revised limit will not accept fresh public deposits or renew existing ones until they conform to the new ceiling.
• The revised guideline aims to harmonize the rules for NBFCs and HFCs and ensure better financial stability.
• RBI has also directed deposit-taking HFCs to maintain higher liquid assets and ensure full asset cover for public deposits.

Additional Information

• Net Owned Fund (NoF)
• NoF is the difference between a company’s total assets and its total liabilities, representing the owner's equity in the company.
• NoF is used as a key financial measure for regulatory requirements in non-banking financial companies and housing finance companies.
• RBI's Role in HFC Regulations
• The RBI sets guidelines for financial institutions like HFCs to maintain liquidity and financial stability.
• RBI's revised guidelines are designed to ensure a uniform regulatory framework for HFCs and NBFCs.
• Public Deposits and Housing Finance Companies
• Public deposits are funds collected by HFCs from the public, which are used for lending and other financial activities.
• RBI's regulations ensure that public deposit-taking institutions are financially sound and do not take undue risks with public money.

The correct answer is 1 and 2 only.

In News

• The DRI scheme aims to provide financial assistance to the weakest sections of the community at concessional interest rates.
• The scheme ensures that a significant portion of loans go to the SC/ST category, and no margin is required for loan approval.

Key Points

• The DRI scheme provides loans at a concessional rate of 4% p.a. to eligible borrowers for engaging in productive and gainful activities.
• At least two-thirds of the DRI advances should be granted through rural and semi-urban branches, with 40% of the advances going to SC/ST borrowers.
• Eligibility includes landholding norms: borrowers with no land or small land holdings are eligible, and SC/ST members are exempt from landholding requirements.
• No collateral or third-party guarantee is required, and the interest subsidy in DRI advances was discontinued in November 2016.

Additional Information

• Income Criteria
• For rural areas, family income should not exceed Rs. 18,000 per annum.
• For urban and semi-urban areas, family income should not exceed Rs. 24,000 per annum.
• Margin and Security
• No margin is required for the DRI loan.
• Assets purchased with the loan may be hypothecated to the bank, but no collateral security is needed.
• Objective of DRI
• The primary objective is to assist the weaker sections by providing financial assistance for productive activities at a concessional interest rate.
• The aim is to help improve their economic conditions and enhance financial inclusion.

The correct answer is RBI, SEBI, IRDAI, PFRDA.

In News

• The National Centre for Financial Education (NCFE) is a Section 8 company, promoted by key financial sector regulators.
• NCFE works to improve financial literacy and awareness across India through various educational campaigns and programs.

Key Points

• NCFE was promoted by RBI, SEBI, IRDAI, and PFRDA to implement the National Strategy for Financial Education (NSFE).
• These financial regulators play a key role in the promotion of financial education and awareness in India.
• NCFE aims to improve the financial literacy of Indian citizens through seminars, workshops, and campaigns.
• The company’s mission is to help people manage money effectively by promoting financial awareness and access to appropriate financial products and services.

Additional Information

• Reserve Bank of India (RBI)
• The RBI is India's central bank, responsible for managing monetary policy and financial stability.
• It plays a crucial role in regulating the banking sector and ensuring economic growth in India.
• Securities and Exchange Board of India (SEBI)
• SEBI is the regulator for the securities market in India, ensuring investor protection and promoting market efficiency.
• It regulates stock exchanges, mutual funds, and other financial market entities in India.
• Insurance Regulatory and Development Authority of India (IRDAI)
• IRDAI is responsible for regulating the insurance industry in India, ensuring fair treatment for policyholders and promoting the development of the sector.
• Pension Fund Regulatory and Development Authority (PFRDA)
• PFRDA regulates and promotes pension schemes in India, including the National Pension Scheme (NPS).
• It aims to provide social security to Indian citizens through pension schemes.

The correct answer is Kavach.

In News

• Indian Railways has deployed the Kavach Automatic Train Protection system on just 2% of its entire network.
• Parliamentary standing committee calls for expediting Kavach deployment on the railway network.

Key Points

• Kavach was adopted as a National Automatic Train Protection (ATP) system by Indian Railways in July 2020.
• As of December 2024, Kavach has been deployed on 2% of the 70,000 km railway network.
• Kavach version 3.2 has been deployed on 1465 route km on South Central Railway, and version 4.0 was approved in July 2024.
• The slow implementation of Kavach is due to limited capacity of small agencies involved in the project and the high technology requirements for installation.

Additional Information

• Automatic Train Protection (ATP)
• ATP systems are designed to prevent train accidents caused by human error.
• The system automatically applies brakes if it detects an unsafe condition, like overspeeding.

The correct answer is August 9, 2016.

In News

• The Government e-Marketplace (GeM) was launched on August 9, 2016, by the Ministry of Commerce and Industry, Government of India.
• GeM was designed to create an open and transparent procurement platform for government buyers in India.

Key Points

• GeM was launched with the objective of providing a transparent and efficient public procurement platform.
• It replaced the Directorate General of Supplies and Disposals (DGS&D) in 2016.
• GeM is a contactless, paperless, and cashless marketplace and is owned by the GeM Special Purpose Vehicle (SPV), a 100% government-owned company.
• GeM is mandatory for government purchases as per the General Financial Rules, 2017, with Rule No. 149 specifically authorizing its use.

Additional Information

• GeM's Impact
• GeM has improved visibility and transparency in public procurement, with average savings of 9.75% on the median price, as per a World Bank assessment.
• It has driven inclusivity, usability, efficiency, and cost savings for government procurement.
• GeM's CEO
• The current CEO of Government e-Marketplace is Shri Mihir Kumar, a distinguished officer from the Indian Defence Accounts Service (IDAS), 1996 batch.

The correct answer is 12%.

In News

• For UCBs with deposits exceeding Rs 100 crore, the Reserve Bank of India (RBI) mandates a minimum Capital Adequacy Ratio (CAR) of 12%.
• The RBI has set a glide path to ensure that these UCBs meet the 12% CAR requirement by March 31, 2026.

Key Points

• The RBI mandates a minimum CAR of 9% for all UCBs.
• UCBs with deposits above Rs 100 crore must maintain a CAR of 12%, with a glide path to meet this by March 31, 2026.
• UCBs failing to meet CAR requirements or facing other issues like high NPAs may face regulatory actions like Prompt Corrective Action (PCA).
• The CAR is a measure of a bank's financial strength, ensuring it has enough capital to absorb potential losses.

Additional Information

• Capital Adequacy Ratio (CAR)
• The CAR is the ratio of a bank's capital to its risk-weighted assets, ensuring it can absorb potential losses.
• The higher CAR for larger UCBs ensures they maintain adequate capital due to handling more significant deposits and risks.
• Prompt Corrective Action (PCA)
• Under PCA, banks failing to meet CAR or facing financial issues are subject to additional regulatory measures and restrictions.

The correct answer is 75% of their Adjusted Net Bank Credit (ANBC) or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBE), whichever is higher.

In News

• The Priority Sector Lending (PSL) target for Small Finance Banks (SFBs) is set at 75% of their Adjusted Net Bank Credit (ANBC) or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBE), whichever is higher.
• This ensures that SFBs allocate a significant portion of their lending to priority sectors such as agriculture, micro and small enterprises, and other specified sectors.

Key Points

• The PSL target for SFBs is 75% of their total lending, calculated as either ANBC or CEOBE, whichever is higher.
• Sub-targets within the PSL target include 18% for agriculture and 7.5% for micro-enterprises.
• The higher PSL target is designed to ensure SFBs prioritize lending to underserved and unbanked populations, thereby promoting financial inclusion.

Additional Information

• Small Finance Banks (SFBs)
• SFBs are designed to serve the unbanked and underserved sectors, including small farmers and micro-enterprises.
• The PSL target ensures that SFBs allocate resources to critical sectors of the economy to promote inclusive growth.
• Priority Sector Lending (PSL)
• PSL is a set of targets aimed at ensuring that banks allocate a portion of their lending to specific sectors like agriculture, MSMEs, and housing.
• It plays a key role in fostering economic development and financial inclusion across various sectors of society.

The correct answer is Meta AI.

In News

• Llama models are developed by Meta AI, a leading company in artificial intelligence and machine learning.
• Meta AI has released various versions of Llama, with the latest being Llama 4, designed for natural language processing and text generation applications.

Key Points

• Meta AI, formerly Facebook AI, developed the Llama family of language models.
• Llama models are open-source, meaning their code and weights are freely available for research and commercial use.
• Meta AI's Llama models are designed for applications such as chatbots, virtual assistants, text generation, and other natural language processing tasks.

Additional Information

• Llama Models
• Llama models are designed for tasks like translation, summarization, question answering, and code generation.
• They are freely available for research and commercial use, fostering innovation in AI development.
• Meta AI
• Meta AI is part of Meta Platforms Inc., formerly known as Facebook, and focuses on developing AI technologies for various applications, including natural language processing, image recognition, and virtual reality.

The correct answer is 1 and 2 only.

In News

• The Reserve Bank of India (RBI), in its third Bi-Monthly Monetary Policy Committee (MPC) review in August 2024, maintained the repo rate at 6.5% for the 9^th consecutive time.

Key Points

• The RBI also increased the UPI limit for tax payments from Rs 1 lakh to Rs 5 lakh to facilitate quicker payments for higher tax liabilities.
• The real GDP growth for FY25 is projected by the RBI at 7.2%, not 6.5% as mentioned in statement 3.
• Statement 1 correctly highlights the continuation of the repo rate at 6.5%.
• Statement 2 accurately reflects the increase in the UPI limit for tax payments.
• Statement 3 is incorrect regarding the GDP growth projection, as the actual projection is 7.2%.

Additional Information

• The RBI's decision to maintain the repo rate at 6.5% reflects its strategy to balance inflation and growth, ensuring macroeconomic stability.
• The increase in the UPI limit for tax payments to Rs 5 lakh is aimed at facilitating larger transactions and easing the payment process for taxpayers.
• The real GDP growth projection of 7.2% for FY25 underscores the RBI’s optimistic outlook on economic performance despite global challenges.
• The RBI’s Monetary Policy Committee (MPC) plays a crucial role in setting the repo rate, which influences borrowing costs and overall economic activity.

The correct answer is Health.

In News

• The Indian Air Force (IAF) and Indian Army conducted a joint operation to para-drop the “Aarogya Maitri Health Cube” under Project BHISHM at a high-altitude area.

Key Points

• Project BHISHM stands for Bharat Health Initiative for Sahyog Hita and Maitri.
• The "H" in BHISHM stands for "Health".
• The operation involved using a C-130J Super Hercules aircraft to drop the health cubes in high-altitude regions.
• The cubes are designed to provide trauma care in Humanitarian Aid and Disaster Relief (HADR) situations.

Additional Information

• Project BHISHM
• Project BHISHM is an initiative to develop indigenous trauma care solutions like the Aarogya Maitri Health Cube.
• The project aims to enhance India’s capability in providing medical aid during disasters and in high-risk environments.
• C-130J Super Hercules
• The C-130J Super Hercules is an advanced tactical transport aircraft used by the IAF for various operations, including precision para-drops.
• Para Brigade
• The Indian Army’s Para Brigade is known for its expertise in airborne operations and was crucial in the success of this para-drop mission.

The correct answer is Union Bank of India.

In News

• Union Finance Minister Nirmala Sitharaman inaugurated five specialized “Nari Shakti” branches of Union Bank of India.

Key Points

• Union Bank of India launched the "Nari Shakti" branches to empower women entrepreneurs.
• The branches are located in Bengaluru, Chennai, Visakhapatnam, and Jaipur.
• The initiative focuses on financial inclusion for women in manufacturing and service sectors.
• Services include accessible finance, skills training, and advisory support.

Additional Information

• Union Bank of India
• Headquartered in Mumbai.
• One of India’s leading public sector banks.
• Founded in 1919.