Question

Pradhan Mantri Jan-Dhan Yojana is related only to -
1. Cardholder below poverty line
2. Industrial workers
3. All of these
4. None of these

Answer 1

Correct Answer - Option 3 : All of these

The correct answer is All of these.

• The Government initiated the National Mission for Financial Inclusion (NMFI), namely, Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014. 
• It provides universal banking services for every unbaked household, based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded, and serving unserved and underserved areas.
• Under the PMJDY scheme, some of the financial services that are offered to individuals are pension, insurance, and banking.
  • For Cardholder below the poverty line and Industrial workers.
• Under PMJDY zero balance account can be opened by individuals.
  • However, in case individuals would like to have access to the cheque facility, maintenance of a minimum balance is mandatory.

• A digital pipeline has been laid for the implementation of PMJDY through linking of Jan-Dhan account with mobile and Aadhaar [Jan Dhan-Aadhaar-Mobile (JAM)].
• Promotion of digital payments including RuPay debit card usage amongst PMJDY account holders through the creation of acceptance infrastructure across India can be taken into account.
• It has an overdraft facility of Rs.5,000 is provided to one account in the household. The facility is usually provided to the lady in the house.