Quiz Rbi Nsfe 2020-25

7/7/23, 5:01 PM Quiz - RBI - NSFE - 2020-25-complete-test
Quiz - RBI - NSFE - 2020-25

NSFE [2020-2025]
Q.1) Pradhan Mantri Jan Dhan Yojana (PMJDY) scheme was launched on which date?
[A] 15th August 2014

[B] 28th August 2014
[C] 15th August 2015
[D] 5th August 2015
[E] None of the above
Q.2) As of December 18, 2019, how many accounts have been opened under PMJDY?
[A] 64 cr
[B] 45 cr
[C] 47.7 cr
[D] 37.7 cr
[E] None of the above
Q.3) According to the World Bank’s Findex 2017 Report, what is the proportion of adults in India who have
formal accounts in the year 2017?
[A] 54%
[B] 72%
[C] 80%
[D] 35%
[E] 90%
Q.4) In the All India Financial Inclusion and Financial Literacy Survey in 2019 by NCFE, what percentage of
respondents have achieved a minimum target score in each of the components of financial literacy
prescribed by OECD-INFE?
[A] 27.18%
[B] 29%
[C] 23.18%
https://edutap.learnyst.com/admin/products/all-questions/386252 1/11
[D] 20%
[E] 25%
Q.5) Which occupation shows the highest percentage in crossing the minimum threshold score In All India
Financial Inclusion and Financial Literacy Survey in 2019 by NCFE?
[A] Self-employed
[B] Salaried (private)
[C] Salaried (Government)
[D] Retired
[E] Self-employed (non-agriculture)
Q.6) Consider the following statements regarding In All India Financial Inclusion and Financial Literacy
Survey in 2019 by NCFE and choose the incorrect statement/s.
[A] Percentage of population crossing the minimum threshold increases with an increase in annual
income
[B] The percentage of population crossing the minimum threshold is highest in the west zone
[C] The percentage of population crossing the minimum threshold in an urban area is less than double of
the rural areas
[D] The percentage of population crossing the minimum threshold is minimum for Scheduled Caste
[E] Percentage of population crossing the minimum threshold is highest for the age group 18-29
Q.7) First National Strategy for Financial Education (NSFE) was launched in which of the following year?
[A] 2015
[B] 2010
[C] 2013
[D] 2018
[E] 2013
Q.8) NSFE 2020-2025 has adopted a 5 Cs approach to disseminating financial education. Which of the
following is not among those 5 Cs?
[A] Content
[B] Communication
[C] Collaboration
[D] Capacity
[E] Capitalize
Q.9) Technical Group on Financial Inclusion and Financial Literacy is headed by which of the following?
[A] Governor, RBI
[B] Union Finance Minister
[C] Secretary, Finance Ministry
[D] CEO NITI Aayog
[E] Deputy Governor, RBI
Q.10) Which of the following institution is responsible for periodic monitoring and implementation of
National Strategy for Financial Education?
[A] The Technical Group on Financial Inclusion and Financial Literacy (TGFIFL)
[B] RBI
[C] Financial Stability and Development Council
[D] Department of Financial Services

[E] Ministry of Finance, Government of India
Q.11) Financial education supports the achievement of the Sustainable Development Goal on Education.
Which of the following is SDG on Education?
[A] SDG 2
[B] SDG 5
[C] SDG 4
[D] SDG 6
[E] SDG 7
Q.12) What is the gender gap in account ownership in India in 2017?
[A] 7%
[B] 4%
[C] 13%
[D] 6%
[E] 11%
Q.13) Which of the following are the components of the definition of Financial Literacy by OECD-INFE?
[A] Financial Knowledge
[B] Financial Behavior

[C] Financial Attitude
[D] Both 1 and 2
[E] All 1, 2 and 3
Q.14) Which among the following is not one of the strategic objectives of the National Strategy for
Financial Inclusion 2020-25?
A. Inculcate financial literacy

B. Encourage savings behaviour
C. Improve usage of digital financial services
D. Plan for old age retirement through pension products
[A] Only A
[B] Only B
[C] Both A and B
[D] Only C and D
[E] All of the above
Q.15) As per the NSFE 2020-2025, PFRDA launched a dedicated website called “Pension Sanchay” in 2018 -
addressing the need for financial literacy from the perspective of retirement planning. It focuses on the 4
most important concepts in financial decision-making, which of the following is not one of them?
[A] Knowledge of pensioner’s profile
[B] Interest compounding
[C] Inflation
[D] Risk diversification
[E] knowledge of interest rates
Q.16) ________ is the virtual assistant launched by SIDBI on the Udyami Mitra portal on April 02, 2018
that guides budding entrepreneurs.
[A] Soumya
[B] Shruti
[C] Samriddhi
[D] Shristi
[E] Surbhi
Q.17) NPCI entered _________ in the year 2017 for conducting 120 e-Payment Literacy camps
simultaneously across the country on September 8, 2015, on World Literacy Day.
[A] Guinness World Records
[B] World Book of Records
[C] Limca Book of Records
[D] India Book of Records

[E] World Atlas of Records
Q.18) As a Public awareness campaign, the RBI has started a Facebook page _______ to publish messages
and information of interest for greater awareness and understanding of the Bank’s functions.
[A] RBI Do
[B] RBI Said

[C] RBI Says
[D] RBI Gives
[E] RBI With you
Q.19) According to the NSFE 2020-2025, the NCFE has been set up by all the Financial Sector Regulators as
a Section (8) company under the Companies Act, 2013. What does F stand for in NCFE?
[A] Financial
[B] Framework
[C] Future
[D] Funds
[E] Formula
Q.20) SIDBI with the support of the nationwide Common Service Centres (CSCs) has delivered an
Entrepreneurship Awareness campaign or the ___________ project which focused on 115 aspirational
districts across 28 states.
[A] Udyam Asha
[B] Udyam Uttam

[C] Udyam Abhilasha
[D] Udyam Surya
[E] Udyam Parisksha

Answers
NSFE [2020-2025]
Q.1)B Q.2)D Q.3)C Q.4)A Q.5)C Q.6)A Q.7)C Q.8)E Q.9)E Q.10)A Q.11)C Q.12)D
Q.13)E Q.14)E Q.15)A Q.16)C Q.17)C Q.18)C Q.19)A Q.20)C

Explanations
NSFE [2020-2025]
Q.1) Explanation:
● "Pradhan Mantri Jan-Dhan Yojana (PMJDY)" under the National Mission for Financial Inclusion was
launched initially for a period of 4 years (in two phases) on 28th August 2014. It envisages universal
access to banking facilities with at least one basic banking account for every household, financial literacy,
access to credit, insurance, and pension.
Q.2) Explanation:
● As of December 18, 2019, 37.70 Crore bank account has been opened under PMJDY.
Q.3) Explanation:
● Findex 2017 Report, launched by the World Bank, states that the proportion of adults with a formal
account in India has risen from 35% in 2011 to 53% in 2014, to 80% in 2017.
Q.4) Explanation:
● All India Financial Inclusion and Financial Literacy Survey in 2019 by NCFE. A similar survey was
undertaken in 2013 on the lines of the OECD-INFE toolkit.
● A sample of 75000 adults aged 18 to 79 was interviewed in 14 national/regional languages using a
set of a household questionnaire
● 27.18 % of the respondents have achieved the minimum target score in each of the components of
financial literacy prescribed by OECD-INFE as compared to 20% in 2013.
Q.5) Explanation:
● As the graph is given below, it can be seen that the salaried government employee shows the
highest percentage in crossing the minimum threshold score In All India Financial Inclusion and Financial
Literacy Survey in 2019 by NCFE occupation wis[5]
Q.6) Explanation:
● As the graph is given below, it can be seen that percentage of the population crossing the minimum
threshold first increase as rising income, but after the 5 Lakh to 10 Lakh bracket, it starts decreasing.
Q.7) Explanation:
● On August 20, 2020, the Reserve Bank of India (RBI) has released the National Strategy for Financial
Education (NSFE) for the next five years (2020-2025) to disseminate financial education in the country.
The first NSFE was launched in 2013 and was applicable till 2018.
Q.8) Explanation:
● NSFE adopted a ‘5 C’ approach for the dissemination of financial education. It includes Content,
Communication, Collaboration, Capacity and Community
Q.9) Explanation:
● The implementation of the Strategy would be directly monitored by the Technical Group on Financial
Inclusion and Financial Literacy (TGFIFL) Chaired by the Deputy Governor, RBI.
Q.10) Explanation:
● The implementation of the Strategy would be directly monitored by the Technical Group on Financial
Inclusion and Financial Literacy (TGFIFL) Chaired by the Deputy Governor, RBI.
Q.11) Explanation:
● National Strategy for Financial Education (NSFE) which focuses on financial education also supports
the achievement of Sustainable Development Goal (SDG) No. 4 on Education which aims to ensure
inclusive and equitable quality education and promote life-long learning opportunities for all (SDG Target
4.6 on Literacy and SDG Target 4.4 on Life Skills under SDG 4 on Education)
Q.12) Explanation:
● According to the World Bank, India has also made extraordinary progress in reducing the country’s
gender gap in account ownership, from nearly 20% in 2014 to 6% in 2017.
Q.13) Explanation:
● Financial literacy encompasses aspects of knowledge, attitude, and behavior covering the range of
context such as money management, planning for short- and long-term financial goals, and awareness
and choice of financial products.
Q.14) Explanation:
· Objective of NSFE is to support the vision of the Government of India and Financial Regulators (viz.
RBI, SEBI, IRDAI and PFRDA) creating a financially aware and empowered India.
Q.15) Explanation:
● PFRDA has launched a dedicated website called “Pension Sanchay” in 2018 - addressing the need of
financial literacy from the perspective of retirement planning. It focuses on four most important concepts
in financial decision making: - knowledge of interest rates, interest compounding, inflation and risk
diversification.
● PFRDA conducts a subscriber awareness program.
● PFRDA also conducts Annuity Literacy Program in co-ordination with NPS Trust and Annuity Service
Providers
Q.16) Explanation:
● Samriddhi, the virtual assistant was launched by SIDBI on the Udyami Mitra portal on April 02, 2018
- guides budding entrepreneurs. A “Bankability Kit for MSE Entrepreneurs” in bilingual format has been
hosted on the portal.
Q.17) Explanation:
● NPCI started working with Public Sector Banks (PSUs) and private sector banks to create awareness
and literacy sessions on RuPay, IMPS, AePS, and USSD - *99#.
● It Entered the Limca Book of Records in the year 2017 for conducting 120 e-Payment Literacy camps
simultaneously across the country on September 8, 2015, the world Literacy Day. 23,930 customers
attended workshops.
Q.18) Explanation:
· A separate Twitter handle ‘@RBI says’ and Facebook page‘RBI Says’ publish messages and information
of interest for greater awareness and understanding of the Bank’s functions.
· Public awareness campaign - aims to educate the members of the public regarding their rights and
responsibilities in banking-related matters.
Q.19) Explanation:
● Background and Rationale of NSFE
o National Strategy for Financial Education is defined as “a nationally coordinated approach to financial
education that consists of an adapted framework or program” (OECD, 2019).
o The population of India is 1,370,862,591 as of October 29, 2019. The age group (15-64) constitutes
67.27% of the total population and the median age is 27.1. This favorable demographic dividend may help
India to become one of the fastest growing economies if inclusive growth and financial literacy are
achieved.
o Digitalization propelled by Digital India Campaign, Digital Saksharta Abhiyan, etc provided new
opportunities. The government is focusing on a less-cash economy by promoting digital transactions and
Payment Infrastructure - NSFE will help in advancing the skills of financial service providers.
o Large number of stakeholders, including the Central and State governments, Financial Sector
Regulators, financial institutions, civil society, academia, educational institutions in public and private
sector and others are involved in spreading financial literacy - National Strategy for Financial Education
(NSFE) is prerequisite to ensure that these stakeholders work in unison.
o To achieve this, the National Centre for Financial Education (NCFE) has been set up by all the
Financial Sector Regulators as a Section (8) company under Companies Act, 2013 to undertake basic
financial education.
Q.20) Explanation:
● SIDBI with the support of the nationwide Common Service Centres (CSCs) has delivered an
Entrepreneurship Awareness campaign or the Udyam Abhilasha project which focused on 115
aspirational districts across 28 states. During the campaign around 470 training locations were covered
with over 2.25 lakh hours of inputs given to 18000+ youths (including about 35% women)

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7/7/23, 5:01 PM Quiz - RBI - NSFE - 2020-25-complete-test

Quiz - RBI - NSFE - 2020-25

[A] 15th August 2014

[C] 15th August 2015

[D] 5th August 2015

[E] None of the above

[E] None of the above

[B] Salaried (private)

[C] Salaried (Government)

[E] Self-employed (non-agriculture)

[B] Union Finance Minister

[C] Secretary, Finance Ministry

[D] CEO NITI Aayog

[E] Deputy Governor, RBI

[C] Financial Stability and Development Council

[D] Department of Financial Services

Q.12) What is the gender gap in account ownership in India in 2017?

[A] Financial Knowledge

[B] Financial Behavior

[D] Both 1 and 2

[E] All 1, 2 and 3

A. Inculcate financial literacy

C. Improve usage of digital financial services

D. Plan for old age retirement through pension products

[D] Only C and D

[E] All of the above

[A] Knowledge of pensioner’s profile

[B] Interest compounding

[D] Risk diversification

[E] knowledge of interest rates

[A] Guinness World Records

[B] World Book of Records

[C] Limca Book of Records

[D] India Book of Records

[B] RBI Said

[D] RBI Gives

[E] RBI With you

[A] Udyam Asha

[B] Udyam Uttam

[C] Udyam Abhilasha

[D] Udyam Surya

[E] Udyam Parisksha

Quiz - RBI - NSFE - 2020-25

Q.13)E Q.14)E Q.15)A Q.16)C Q.17)C Q.18)C Q.19)A Q.20)C

Quiz - RBI - NSFE - 2020-25

● PFRDA conducts a subscriber awareness program.

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