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To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?
- a)After 6 months of satisfactory conduct of account
- b)One account per household
- c)Customers in age group of 18-60 years
- d)All of above
Correct answer is option 'D'. Can you explain this answer?
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To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available...
Overdraft facility of Rs.5,000/- in PMJDY Account is available to account holders after six months of satisfactory conduct, one account per household, and for customers in the age group of 18-60 years. This facility is provided to encourage savings and financial inclusion among the economically weaker sections of society.
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To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available...
Overdraft facility of Rs.5,000/- in PMJDY Account
The overdraft facility of Rs.5,000/- in PMJDY (Pradhan Mantri Jan Dhan Yojana) Account is available to customers who fulfill certain criteria. Let's explore the details:
1. After 6 months of satisfactory conduct of account:
To be eligible for the overdraft facility, the account holder must maintain a satisfactory conduct of the account for a period of 6 months. This means that they should not have any default in repayment, should regularly transact through the account, and have a good track record of maintaining sufficient balance.
2. One account per household:
The overdraft facility is available to one account per household. This ensures that the benefits of the scheme reach a larger number of people by allowing each household to have at least one account with the facility.
3. Customers in the age group of 18-60 years:
The overdraft facility is available to customers who fall within the age group of 18-60 years. This age range ensures that the working population, as well as the youth, have access to this facility and can utilize it for their financial needs.
4. All of the above:
The correct answer is option 'D' which states that all of the above criteria must be fulfilled to avail the overdraft facility. This means that the account holder should maintain a satisfactory conduct of the account for 6 months, be part of a household that has only one account with the facility, and fall within the age group of 18-60 years.
Overall, the overdraft facility of Rs.5,000/- in PMJDY Account is provided to customers who meet the specified criteria mentioned above. This facility aims to provide financial support and flexibility to individuals, especially those from economically weaker sections, by allowing them to withdraw an amount up to Rs.5,000/- even if their account balance is insufficient. It helps them meet their immediate financial needs and bridge temporary gaps in funds.
The overdraft facility of Rs.5,000/- in PMJDY (Pradhan Mantri Jan Dhan Yojana) Account is available to customers who fulfill certain criteria. Let's explore the details:
1. After 6 months of satisfactory conduct of account:
To be eligible for the overdraft facility, the account holder must maintain a satisfactory conduct of the account for a period of 6 months. This means that they should not have any default in repayment, should regularly transact through the account, and have a good track record of maintaining sufficient balance.
2. One account per household:
The overdraft facility is available to one account per household. This ensures that the benefits of the scheme reach a larger number of people by allowing each household to have at least one account with the facility.
3. Customers in the age group of 18-60 years:
The overdraft facility is available to customers who fall within the age group of 18-60 years. This age range ensures that the working population, as well as the youth, have access to this facility and can utilize it for their financial needs.
4. All of the above:
The correct answer is option 'D' which states that all of the above criteria must be fulfilled to avail the overdraft facility. This means that the account holder should maintain a satisfactory conduct of the account for 6 months, be part of a household that has only one account with the facility, and fall within the age group of 18-60 years.
Overall, the overdraft facility of Rs.5,000/- in PMJDY Account is provided to customers who meet the specified criteria mentioned above. This facility aims to provide financial support and flexibility to individuals, especially those from economically weaker sections, by allowing them to withdraw an amount up to Rs.5,000/- even if their account balance is insufficient. It helps them meet their immediate financial needs and bridge temporary gaps in funds.
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To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?a)After 6 months of satisfactory conduct of accountb)One account per householdc)Customers in age group of 18-60 yearsd)All of aboveCorrect answer is option 'D'. Can you explain this answer?
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To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?a)After 6 months of satisfactory conduct of accountb)One account per householdc)Customers in age group of 18-60 yearsd)All of aboveCorrect answer is option 'D'. Can you explain this answer? for Class 6 2024 is part of Class 6 preparation. The Question and answers have been prepared according to the Class 6 exam syllabus. Information about To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?a)After 6 months of satisfactory conduct of accountb)One account per householdc)Customers in age group of 18-60 yearsd)All of aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 6 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?a)After 6 months of satisfactory conduct of accountb)One account per householdc)Customers in age group of 18-60 yearsd)All of aboveCorrect answer is option 'D'. Can you explain this answer?.
To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?a)After 6 months of satisfactory conduct of accountb)One account per householdc)Customers in age group of 18-60 yearsd)All of aboveCorrect answer is option 'D'. Can you explain this answer? for Class 6 2024 is part of Class 6 preparation. The Question and answers have been prepared according to the Class 6 exam syllabus. Information about To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?a)After 6 months of satisfactory conduct of accountb)One account per householdc)Customers in age group of 18-60 yearsd)All of aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 6 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for To whom Overdraft facility of Rs.5,000/- in PMJDY Account is available?a)After 6 months of satisfactory conduct of accountb)One account per householdc)Customers in age group of 18-60 yearsd)All of aboveCorrect answer is option 'D'. Can you explain this answer?.
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