Question : The Pradhan Mantri Fasal Bima Yojana provides insurance coverage for which sector?
Option 1: Industrial workers
Option 2: Farmers
Option 3: Self-employed individuals
Option 4: Government employees
Correct Answer: Farmers
Solution : The correct answer is (b) farmers.
The Pradhan Mantri Fasal Bima Yojana (PMFBY) is a crop insurance scheme launched by the Government of India. It aims to provide financial protection to farmers against crop losses due to natural calamities, pests, diseases, and other risks.
Under PMFBY, farmers are eligible to obtain insurance coverage for their crops by paying a nominal premium. The scheme covers all stages of the crop cycle, from sowing to post-harvest, and provides compensation to farmers in case of crop failure or yield losses.
The insurance coverage provided by PMFBY helps farmers mitigate the financial risks associated with agricultural activities. It provides them with a safety net and supports them in recovering from crop losses, thereby safeguarding their livelihoods and ensuring their economic stability.
Question : Statement 1: The Rashtriya Swasthya Bima Yojana (RSBY) provides health insurance coverage to unemployed individuals.
Statement 2: RSBY is a government initiative to address the health needs of the rural population in India.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, statement 2 is false.
Option 4: Statement 1 is false, statement 2 is true.
Question : Statement 1: The Unemployment Insurance Scheme provides financial assistance to unemployed individuals in India.
Statement 2: The scheme is funded by contributions from both employers and employees.
Question : Medical Insurance Scheme for State Employees and Pensioners (abbr. MEDISEP) is a unique and comprehensive social insurance scheme. This scheme was implemented by which state government?
Option 1: Karnataka
Option 2: Chhattisgarh
Option 3: Kerala
Option 4: Rajasthan
Question : Insurance sector in India is regulated by:
Option 1: RBI
Option 2: CII
Option 3: IRDA
Option 4: SEBI
Question : Which among the following was set up in 1956 by the Indian Government by nationalising all the existing private sector life insurance companies?
Option 1: United India Insurance Company Limited
Option 2: General Insurance Corporation of India
Option 3: New India Assurance Company Limited
Option 4: Life Insurance Corporation of India
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