Which of the following statements is not true about

Q: Answer-Which of the following statements is not true about Pradhan Mantri Jan Dhan Yojna?

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

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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Relevant for Exams:

RBI Grade B

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