Question
UPSC Prelims 2015 Question:
Pradhan Mantri Jan-Dhan Yojana' has been launched for
Answer (Detailed Solution Below)
Option 3: promoting financial inclusion in the country
Detailed Solution
Explanation:
- 'Pradhan Mantri Jan-Dhan Yojana' (PMJDY), one of the biggest financial inclusion initiatives in the world, was announced on 15th August 2014. The National Mission of Financial Inclusion named as the Pradhan Mantri Jan Dhan Yojana seeks to integrate the poorest of the poor with bank accounts.
- Salient Features of the Scheme:
- All households across the country - both rural and urban are to be covered under the scheme.
- Bank accounts will be opened for 15 crore poor persons. All bank accounts opened under the scheme are to have an overdraft facility of Rs 5,000 for Aadhar-linked accounts after satisfactory operation in the account for 6 months. Issuance of RuPay Debit Card with inbuilt Rs 2 lakh personal accident insurance cover.
- The increased coverage amount of Rs. 2 lakh is for PMJDY accounts opened after 28.08.2018. A minimum monthly remuneration of Rs 5,000 to business correspondents who will provide the last link between the account holders and the bank.
| Knowledge Box |
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Pradhan Mantri Jan Dhan Yojana (PMJDY) - National Mission for Financial Inclusion, completed eight years of successful implementation.
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Therefore, option (3) is the correct answer.
Subject: Economics | Economic Schemes and Policies
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