UPSC Prelims Practice Questions — Ministry of Finance Year Ender 2025: Department of Financial Services

Q1. The Steering Committee that anchors the EASE (Enhanced Access and Service Excellence) reform agenda for public sector banks is housed in which one of the following institutions?

  • A. Reserve Bank of India (RBI)
  • B. Indian Banks' Association (IBA)
  • C. Department of Financial Services (DFS)
  • D. National Bank for Agriculture and Rural Development (NABARD)

Q2. The EASE (Enhanced Access and Service Excellence) agenda for PSB reforms was first launched in which year and under whose aegis?

  • A. 2018, under the Reserve Bank of India
  • B. 2018, under the Indian Banks' Association
  • C. 2022, under the Indian Banks' Association
  • D. 2021, under the Department of Financial Services

Q3. Under the Banking Laws (Amendment) Act, 2025, the monetary threshold defining 'substantial interest' in a company under the Banking Regulation Act, 1949 was revised to shareholding exceeding which of the following amounts?

  • A. ₹5 lakh
  • B. ₹50 lakh
  • C. ₹2 crore
  • D. ₹5 crore

Q4. With reference to Pradhan Mantri Jan Dhan Yojana figures at its 11-year milestone (August 2025), consider the following. Which of the above is/are correctly identified?

  1. Total PMJDY accounts stood at about 56.16 crore
  2. Women constituted about 55.7% of account holders
  3. Total deposit balance was about ₹2,67,756 crore
  4. The share of accounts in rural and semi-urban areas was about 33%
  • A. 1, 2 and 3
  • B. 1 and 4
  • C. 2, 3 and 4
  • D. 1 and 2 only

Q5. With reference to the growth of Pradhan Mantri Jan Dhan Yojana since its launch, consider the following statements. Which of the statements given above is/are correct?

  1. PMJDY was launched in August 2014 as the National Mission for Financial Inclusion.
  2. Every PMJDY account is compulsorily covered by an accidental insurance policy under PMSBY.
  3. Since launch, the number of accounts has grown about three-fold while total deposits have grown nearly twelve-fold.
  • A. 1 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3

Q6. Among the following schemes, which one had recorded the highest number of enrolments as of 2025?

  • A. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
  • B. Pradhan Mantri Suraksha Bima Yojana (PMSBY)
  • C. Atal Pension Yojana (APY)
  • D. Pradhan Mantri Vaya Vandana Yojana (PMVVY)

Q7. The Atal Pension Yojana, one of the three Jan Suraksha schemes, is administered and regulated by which one of the following authorities?

  • A. Insurance Regulatory and Development Authority of India (IRDAI)
  • B. Pension Fund Regulatory and Development Authority (PFRDA)
  • C. Reserve Bank of India (RBI)
  • D. Employees' Provident Fund Organisation (EPFO)

Q8. With reference to the Credit Guarantee Scheme for Exporters (CGSE) made operational in December 2025, consider the following. Which of the above is/are correctly identified?

  1. It is implemented through the National Credit Guarantee Trustee Company (NCGTC).
  2. It provides 100% credit guarantee cover to Member Lending Institutions.
  3. It is operationalised through the Jan Samarth Portal.
  4. It is implemented by the Department of Commerce under the Ministry of Commerce and Industry.
  • A. 1, 2 and 3
  • B. 1 and 4
  • C. 2, 3 and 4
  • D. 1 and 2 only

Q9. With reference to the Credit Guarantee Scheme for Exporters (CGSE), consider the following statements. Which of the above is/are NOT correct?

  1. It became operational with effect from 1 December 2025.
  2. It envisages additional collateral-free credit support of up to ₹20,000 crore.
  3. The guarantee is available only to large corporate exporters and expressly excludes MSMEs.
  4. It remains open till 31 March 2026 or until the guarantee ceiling is reached.
  • A. 3 only
  • B. 1 and 3
  • C. 3 and 4
  • D. 2 only

Q10. Among the following categories of unclaimed financial assets highlighted under the 'Your Money, Your Right' (Aapki Poonji, Aapka Adhikar) campaign of 2025, which one accounted for the largest amount?

  • A. Unclaimed bank deposits
  • B. Unclaimed insurance proceeds
  • C. Unpaid dividends
  • D. Unclaimed mutual fund balances

Q11. With reference to the mandate of the Department of Financial Services (DFS) within the Ministry of Finance, consider the following statements. Which of the statements given above is/are correct?

  1. It is the nodal department for public sector banks, insurance, pensions and financial inclusion.
  2. It, rather than the Department of Investment and Public Asset Management, handles the disinvestment of the government's equity in public sector undertakings.
  3. Digital payments policy falls within its mandate.
  • A. 1 only
  • B. 1 and 3 only
  • C. 2 and 3 only
  • D. 1, 2 and 3