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With reference to the Pradhan Mantri Jan Dhan Yojana (PMJDY), consider the following statements:
1. It is a National Mission for Financial Inclusion to ensure access to financial services.
2. It allows the account holders to withdraw money in the form of a short-term loan.
3. There has been a continuous increase in the percentage of operative accounts under PMJDY.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    1 and 3 only
  • c)
    2 only
  • d)
    1, 2 and 3
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
With reference to the Pradhan Mantri Jan Dhan Yojana (PMJDY), consider...
  • Pradhan Mantri Jan Dhan Yojana is a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Hence, statement 1 is correct.
  • Its main objective is ensuring access to various financial services to the excluded sections i.e. weaker sections & low income groups at an affordable cost and using the technology for the same.
  • It allows the Jan Dhan account holders to withdraw money upto ?10,000 (OverDraft Facility) in the form of a short-term loan. This limit was earlier ?5,000 but the government doubled the amount last year. Hence, statement 2 is correct.
  • The number of accounts under the PMJDY rose to 43.04 crore in August 2021 from 17.9 crore in August 2015.
  • There has been a continuous increase in the percentage of operative accounts which is an indication that more and more of these accounts are being used by customers on a regular basis. Hence, statement 3 is correct.
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Most Upvoted Answer
With reference to the Pradhan Mantri Jan Dhan Yojana (PMJDY), consider...
Pradhan Mantri Jan Dhan Yojana (PMJDY)
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a National Mission for Financial Inclusion launched by the Government of India to ensure access to financial services for all citizens. It aims to provide banking facilities such as savings accounts, remittances, credit, insurance, and pension to the unbanked population.

Statement Analysis

1. It is a National Mission for Financial Inclusion to ensure access to financial services.
This statement is correct. PMJDY is indeed a national mission aimed at providing financial services to the unbanked population in India. By opening bank accounts for all households, the government aims to promote financial inclusion and access to banking services.

2. It allows the account holders to withdraw money in the form of a short-term loan.
This statement is incorrect. While PMJDY accounts offer various benefits such as overdraft facilities and access to credit, account holders cannot withdraw money in the form of a short-term loan. The focus is on providing basic banking services and financial literacy to individuals.

3. There has been a continuous increase in the percentage of operative accounts under PMJDY.
This statement is correct. Since its launch in 2014, there has been a significant increase in the percentage of operative accounts under PMJDY. The program has been successful in bringing a large number of people into the formal banking system, leading to financial empowerment and inclusion.
Therefore, the correct answer is option 'D' - 1, 2, and 3. PMJDY has played a crucial role in expanding access to financial services and promoting financial literacy among the unbanked population in India.
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With reference to the Pradhan Mantri Jan Dhan Yojana (PMJDY), consider the following statements:1. It is a National Mission for Financial Inclusion to ensure access to financial services.2. It allows the account holders to withdraw money in the form of a short-term loan.3. There has been a continuous increase in the percentage of operative accounts under PMJDY.Which of the statements given above is/are correct?a)1 onlyb)1 and 3 onlyc)2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
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With reference to the Pradhan Mantri Jan Dhan Yojana (PMJDY), consider the following statements:1. It is a National Mission for Financial Inclusion to ensure access to financial services.2. It allows the account holders to withdraw money in the form of a short-term loan.3. There has been a continuous increase in the percentage of operative accounts under PMJDY.Which of the statements given above is/are correct?a)1 onlyb)1 and 3 onlyc)2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the Pradhan Mantri Jan Dhan Yojana (PMJDY), consider the following statements:1. It is a National Mission for Financial Inclusion to ensure access to financial services.2. It allows the account holders to withdraw money in the form of a short-term loan.3. There has been a continuous increase in the percentage of operative accounts under PMJDY.Which of the statements given above is/are correct?a)1 onlyb)1 and 3 onlyc)2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the Pradhan Mantri Jan Dhan Yojana (PMJDY), consider the following statements:1. It is a National Mission for Financial Inclusion to ensure access to financial services.2. It allows the account holders to withdraw money in the form of a short-term loan.3. There has been a continuous increase in the percentage of operative accounts under PMJDY.Which of the statements given above is/are correct?a)1 onlyb)1 and 3 onlyc)2 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?.
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