PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of....., and access to overdraft facility upon satisfactory operation of account or credit history of.....months.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

PMJDY offers unbanked persons easy access to banking services and awareness about financial products through financial literacy programmes. In addition, they receive a RuPay debit card, with inbuilt accident insurance cover of____, and access to overdraft facility upon satisfactory operation of account or credit history of____months.

A	1 lakh, 6 months
B	7 lakh, 3 months
C	5 lakh, 4 months
D	3 lakh, 10 months

Explanation:

Detailed explanation-1: -Detailed Solution. The correct answer is option 1. PMJDY is a flagship financial inclusion scheme launched by Ministry of Finance.

Detailed explanation-2: -Any Indian resident over the age of 18 years is eligible to open a bank account under the PMJDY scheme. The exit age for a bank account opened under the PMJDY scheme is 60 years. Also, a person with an existing savings bank account can transfer his/her account to account to Pradhan Mantri Jan Dhan Yojana account.

Detailed explanation-3: -Pradhan Mantri Jan Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Objectives: Ensure access of financial products & services at an affordable cost.

Detailed explanation-4: -PMJDY brings about the objective of financial inclusion for all by providing basic banking accounts with a debit card with inbuilt accident insurance. The main features of PMJDY include Rs. 5, 000 overdraft facility for Aadhar-linked accounts and a RuPay debit card with inbuilt Rs. 1 lakh accident insurance cover.

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