Yes. It is 1/4th of the marks for correct response. Try not making guesses as it would reduce your score if they are wrong. It's better to leave questions you don't know the answer to blank. There is no negative marking for questions you haven't attempted. 

Dear Student,

Jipmer has made some changes in the marking scheme which is as :-
+4 for marking Correct Response 
-1 for marking Incorrect Response
0 marks for unattempted question.

For more info reagrding the exam details please visithttps://medicine.careers360.com/articles/jipmer-mbbs-exam-pattern?amp