Updated for 2026 Syllabus Detailed Explanations High-Yield Core Concepts

Bank Promotion Exam Guide

Banking Awareness | Banking Knowledge | for all Bank Exams

Module: General Practice

Q73: Consider the following statements regarding the ASPIRE (A Scheme for Promotion of Innovation, Rural Industries and Entrepreneurship) scheme:

It aims to set up Livelihood Business Incubators (LBIs) primarily in rural and underserved areas.




It is implemented solely by the Ministry of Skill Development and Entrepreneurship.




One of its objectives is to create new jobs and reduce unemployment in the agro-rural sector.





Select the correct combination:
A
1 and 2 only
B
1 and 3 only
C
2 and 3 only
D
1, 2, and 3
✅ Correct Answer: B
Statements 1 and 3 are correct.
ASPIRE focuses on setting up Livelihood Business Incubators (LBIs) to train youth in setting up their own enterprises, specifically in the agro-rural sector to generate employment.
Statement 2 is incorrect because ASPIRE is a flagship scheme of the Ministry of MSME, not the Ministry of Skill Development.