MCQs - 2026-08

CRR, SLR, and OMOs are direct instruments of monetary policy used by the RBI to control liquidity. The Fiscal Deficit Target is a part of fiscal policy, managed by the government, not the RBI's monetary policy.

The Repo Rate is the rate at which commercial banks borrow money from the RBI. An increase in the Repo Rate makes borrowing more expensive for banks, which in turn can lead to higher lending rates for consumers and businesses.

The primary objective of the MPC, as mandated by the RBI Act, is to maintain price stability while keeping in mind the objective of growth. This involves targeting inflation within a specified band.

The RuPay debit card issued under PMJDY comes with a default accidental insurance cover of ₹2 lakh for eligible account holders.

As of the latest updates by 2026, there is no upper age limit for opening a new Jan Dhan account, provided the individual meets other eligibility criteria.

The Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched on August 28, 2014.

The eligibility for AB-PMJAY is based on the deprivation and occupational criteria of the Socio-Economic Caste Census (SECC) 2011 data, targeting the bottom 40% of the population.

The two pillars of Ayushman Bharat are the establishment of Health and Wellness Centres (HWCs) and the Pradhan Mantri Jan Arogya Yojana (PMJAY), which provides health insurance.

AB-PMJAY provides a cover of ₹5 lakh per family per year for secondary and tertiary care hospitalisation.

The primary objective of PM-KISAN is to provide income support to all small and marginal farmer families in the country to enable them to meet their financial needs for agricultural and allied activities.