Question
With reference to the Pradhan Mantri Jan Dhan Yojana
(PMJDY), consider the following statements: 1. Launched in 2014, the PMJDY has become one of the world’s largest financial inclusion initiatives. 2. The scheme was aimed at providing every household with at least one bank account. 3. It offers features such as RuPay debit cards, insurance coverage, and overdraft facilities. Which of the statements given above is/are correct?Solution
• The PM highlighted the effectiveness of Pradhan Mantri Jan Dhan Yojana (PMJDY) in transforming financial services for India’s poorest over the past 11 years. About PMJDY • Launched on August 28, 2014, the PMJDY has become one of the world’s largest financial inclusion initiatives. • The scheme was aimed at providing every household with a bank account and bringing marginalized and rural communities into the formal banking system. • As of March 2024, more than 52.6 crore accounts have been opened under the scheme, with a total balance of ₹2.63 lakh crore. • The scheme offers several benefits including zero-balance accounts, RuPay debit cards, accidental and life insurance, and overdraft facilities.
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