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      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.

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