RAS question
IEPFA launched Niveshak Didi Phase II in partnership with which bank?
Correct answer: (D) India Post Payments Bank.
The Investor Education and Protection Fund Authority launched Niveshak Didi Phase II in partnership with India Post Payments Bank.
Explanation
IEPFA launched Niveshak Didi Phase II with India Post Payments Bank because the two institutions signed a Memorandum of Agreement to run the initiative jointly. The Press Information Bureau release places IEPFA under the Ministry of Corporate Affairs and IPPB under the Department of Posts, making IPPB the named banking partner, not a generic public-sector bank. The programme is framed as a financial literacy and inclusion effort for rural, semi-urban and underserved areas. It builds on the first phase, in which IPPB Financial Literacy Camps reached more than 55,000 beneficiaries, and the second phase is meant to expand grassroots sessions led by trained women postal workers and community leaders.
Why the other options are wrong
- (A) State Bank of India is not the partner named in the Press Information Bureau release; the MoA was signed between IEPFA and India Post Payments Bank.
- (B) Bank of Baroda is not linked to the Niveshak Didi Phase II launch; IPPB was the collaborator.
- (C) Punjab National Bank does not appear as the MoA partner for this initiative; the official release names India Post Payments Bank.
Concept
RAS current affairs places weight on government financial-literacy initiatives and their implementation partners. Official schemes often require the exact implementing institution rather than a broad sector label.