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Which of the following banks is not authorized to open accounts under the Jan Dhan Yojana scheme?
1. HSBC Bank
2. IDBI Bank
3. ICICI Bank
4. Union Bank of India

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Correct Answer - Option 1 : HSBC Bank

The correct answer is HSBC Bank.

  • Jan Dhan Yojana scheme is a government scheme and HSBC is a foreign bank whose headquarter is in Hong Kong.

  • Pradhan Mantri Jan-Dhan Yojana (PMJDY):
    • The programme was launched on 28th August 2014 by Prime Minister Narendra Modi.
    • In the year 2014, a total of 17.90 crores, PMJDY accounts were opened. 
    • Features of the Scheme:
      • PMJDY accounts with zero balance.
      • Accidental insurance cover of Rs. 1 Lakh.
      • Life insurance cover of Rs. 30.000/-.
      • Beneficiaries of Government Schemes will get Direct Benefit Transfer in these accounts.
      • Access to Pension, insurance products.
      • Account-holders will be provided bank accounts with no minimum balance.

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