Question

Which of the following statements is not true about Pradhan Mantri Jan Dhan Yojna?

A Universal Access to Banking Services Correct Answer Incorrect Answer
B Financial Literacy Program Correct Answer Incorrect Answer
C Creation of Credit Guarantee Fund Correct Answer Incorrect Answer
D Free Insurance Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

Six Pillars of the Scheme: Universal Access to Banking Services – Branch and Banking Correspondents. Financial Literacy Program– Promoting savings, use of ATMs, using basic mobile phones for banking, etc. Creation of Credit Guarantee Fund – To provide banks some guarantee against defaults. Insurance – Free accidental insurance cover on RuPay cards increased from Rs. 1 lakh to Rs. 2 lakh for PMJDY accounts opened after August 2018.

Practice Next

Relevant for Exams:

×
×