General Awareness Questions asked in Articleship interviews

General Awareness Questions asked by the interviewers these days.

For all those who are appearing for interviews for their Articleship, here is a list of latest buzzing topics in the economy. As these are the favorites of HR’s these days, we bring to you the required information with valuable key points on topics like:

• The Pradhan Mantri Jan Dhan Yojana
• Ebola virus
• Investment made by Japan in India
• Deregulation of petrol prices
• The Sardar Patel 

And many more…

Stay connected for more…

Let’s start with an insight into The Pradhan Mantri Jan Dhan Yojana:

Introduction:

→     The Pradhan Mantri Jan Dhan Yojana or Prime Minister Scheme for People’s Wealth is an ambitious scheme for financial inclusion announced by the Prime Minister of India, Narendra Modi on 15 August 2014.

→     The scheme was launched on 28 August 2014. For the formal launch of this scheme, the Prime Minister personally mailed to CEOs of all banks to gear up for the gigantic task of opening over 7.5 crore bank accounts.

→     In this email, he also declared that a bank account for each household was a national priority.

→     On the inauguration day, 1.5 crore bank accounts were opened under this scheme.

→     The Scheme is launched with a view to provide ‘universal access to banking facilities’.

Key points and Stats to be known:

• The scheme would be providing facilities like basic Banking Accounts with overdraft facility of Rs. 5000 after six months.
• RuPay Debit Card will be provided with inbuilt accident insurance cover of Rs. 1 lakh
• RuPaY Kisan Card facility will also be provided
• Those who open accounts by January 26 will get Life Insurance cover of Rs. 30, 000 in addition to accidental insurance for a lakh.
• The accounts are unique because they will stay active and open even if empty
• SBI has opened 11, 300 camps for Jan Dhan Yojana
• In the next phase, micro insurance and pension will also be added.

Benefits that can be derived from the scheme:

• The influence of moneylenders and other informal financing channels operating outside the ambit of RBI (Reserve Bank of India) would be diminished because of the blunt monetary policy tools and push for financial inclusion
• The scheme seeks to cut waste and corruption by paying benefits directly into bank accounts.
• Mr. G.S. Sandhu, the Financial Services Secretary of India described this scheme as an important step towards converting the Indian economy from a cash based economy to a cashless and digital economy.

Challenges before the Scheme:

• Some experts say the overdraft could end up swelling bad loans at banks as it does not tell about how the banks will collect debts.
• Taking banking to rural areas will be huge challenge as many people in such areas have no identity papers.

What the PM of India, Narendra Modi has to say?

“If we want to eradicate poverty, we need to get rid of financial untouchability”, the PM said stressing the importance of financial inclusion.

In a letter to state owned banks, the PM urged “try your best to ensure that no one is left without a bank account”.

Coming up next a brief overview about the Ebola virus. Stay connected…

- Sahiba Maini

Writer at CA Connect