Q. Consider the following statements regarding the Pradhan Mantri Jan Dhan Yojana (PMJDY):
1.The primary objective of PMJDY is to ensure comprehensive financial inclusion by providing access to banking services to every household in India.
2.Only savings accounts can be opened under the PMJDY.
3.There is no requirement for a minimum balance to open PMJDY account.
4.The Reserve Bank of India (RBI) is responsible for implementing the PMJDY.
How many of the statements given above are correct?
Answer: B
Notes:
Explanation –
Statements 1 and 3 are correct. The primary goal of PMJDY is to achieve comprehensive financial inclusion by providing banking services to every household, particularly targeting the unbanked and underbanked segments of society. PMJDY accounts can be opened with zero balance, and there is no requirement to maintain a minimum balance.
Statements 2 and 4 are incorrect. While the scheme focuses on opening basic savings bank deposit accounts, it also provides access to other financial services such as credit, insurance, and pensions. The PMJDY is implemented by the Department of Financial Services under the Ministry of Finance, Government of India, not the Reserve Bank of India.
Source: The Hindu
