CURRENT AFFAIRS

Detailed explanation-1: -NEW DELHI: Women Jan Dhan bank account holders will start getting the second installment of Rs 500 from Monday in line with the announcement made by Finance Minister Nirmala Sitharaman in March.

Detailed explanation-2: -Government will start sending the amount of 500 rupees to the women account holders of Pradhan Mantri Jan Dhan Yojana (PMJDY) for the month of June from today. The amount is the third installment under Pradhan Mantri Garib Kalyan Package.

Detailed explanation-3: -Benefits under PMJDY Rupay Debit card is provided to PMJDY account holder. Accident Insurance Cover of Rs.1 lakh (enhanced to Rs. 2 lakh to new PMJDY accounts opened after 28.8.2018) is available with RuPay card issued to the PMJDY account holders.

Detailed explanation-4: -10, 000/- to every eligible adult. Financial Literacy Programme– Promoting savings, use of ATMs, getting ready for credit, availing insurance and pensions, using basic mobile phones for banking. Creation of Credit Guarantee Fund – To provide banks some guarantee against defaults. Insurance – Accident cover up to Rs.

Detailed explanation-5: -What is the applicable rates of interest on overdraft or loan under the PMJDY scheme? The applicable rate of interest is 12%. It is usually counted as base rate +2% or 12 %, whichever is lower. Do banks charge account opening fees for opening an account under PMJDY?