Question

Which one of the following is not one of the pillars of PMJDY?

A Universal access to banking services Correct Answer Incorrect Answer
B Basic savings bank accounts with overdraft facility Correct Answer Incorrect Answer
C Financial Literacy Program Correct Answer Incorrect Answer
D Insurance Correct Answer Incorrect Answer
E All of the above are pillars Correct Answer Incorrect Answer

Solution

The scheme was launched based upon the following 6 pillars: Universal access to banking services – Branch and Banking Correspondents Basic savings bank accounts with overdraft facility of Rs. 10,000/- to every household. Financial Literacy Program– Promoting savings, use of ATMs, getting ready for credit, availing insurance and pensions, using basic mobile phones for banking. Creation of Credit Guarantee Fund – To provide banks some guarantee against defaults. Insurance – Accident cover up to Rs. 1,00,000 and life cover of Rs. 30,000 on account opened between 15 Aug 2014 to 31 January 2015. Pension Scheme for Unorganized sector.

Practice Next
×
×