UPSC 2023 › Indian Economy › Digital Payments & Financial Inclusion

2 questions · 2023 · answers as per the UPSC key

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UPSC 2023 · Q72 · Indian Economy › Digital Payments & Financial Inclusion · Save

With reference to Central Bank digital currencies, consider the following statements :

  1. It is possible to make payments in a digital currency without using US dollar or SWIFT system.
  2. A digital currency can be distributed with a condition programmed into it such as a time-frame for spending it.

Which of the statements given above is/are correct?

(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
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Answer: (c) Both 1 and 2
UPSC 2023 · Q74 · Indian Economy › Digital Payments & Financial Inclusion · Save

Consider the following statements :

  1. The Self-Help Group (SHG) programme was originally initiated by the State Bank of India by providing microcredit to the financially deprived.
  2. In an SHG, all members of a group take responsibility for a loan that an individual member takes.
  3. The Regional Rural Banks and Scheduled Commercial Banks support SHGs.

How many of the above statements are correct?

(a) Only one
(b) Only two
(c) All three
(d) None
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Answer: (b) Only two