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The Pradhan Mantri Jan Dhan Yojana completed 12 years since it was announced from the ramparts of the Red Fort on 15 August 2014; the scheme itself was launched on 28 August 2014.
Over 58.63 crore accounts have been opened, holding cumulative deposits of more than ₹3,08,333 crore — an average of about ₹5,200 per account.
Women hold 32.68 crore accounts, or 55.74% of the total, and 45.62 crore accounts (77.80%) are in rural and semi-urban areas.
PMJDY is the account layer of the JAM trinity and carries Direct Benefit Transfers for over 300 government welfare programmes.
Persistent gaps remain: account dormancy, an under-used ₹10,000 overdraft facility, business correspondent network friction, and the cost to banks of servicing low-balance accounts.
Life insurance cover for account holders aged 18-50
Key: ₹2 lakh cover for an annual premium of ₹436
Accidental death and disability cover for account holders aged 18-70
Key: ₹2 lakh cover for an annual premium of ₹20
Guaranteed minimum pension for workers in the unorganised sector
Key: Pension of ₹1,000 to ₹5,000 per month; subscribers join between ages 18 and 40
Jan Dhan account, Aadhaar identity and mobile connectivity together make targeted Direct Benefit Transfer possible and reduce leakage.
PMJDY is the account layer beneath UPI and DBT, and is cited internationally as part of India's DPI stack.
The principle of prioritising the most deprived, invoked as the normative basis for treating a bank account as a basic entitlement.
GS Paper II > Welfare schemes and their performance; GS Paper III > Inclusive growth
General Awareness > Financial inclusion, government schemes, social security schemes
General Awareness > Government schemes
'Pradhan Mantri Jan-Dhan Yojana' has been launched for
Answer: promoting financial inclusion in the country
Consider the following statements: 1. National Payments Corporation of India (NPCI) helps in promoting the financial inclusion in the country. 2. NPCI has launched RuPay, a card payment scheme. Which of the statements given above is/are correct?
Answer: Both 1 and 2
What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas? 1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages. 2. It enables the beneficiaries in the rural areas to make deposits and withdrawals. Select the correct answer using the code given below.
Answer: Both 1 and 2
The establishment of 'Payment Banks' is being allowed in India to promote financial inclusion. Which of the following statements is/are correct in this context? 1. Mobile telephone companies and supermarket chains that are owned and controlled by residents are eligible to be promoters of Payment Banks. 2. Payment Banks can issue both credit cards and debit cards. 3. Payment Banks cannot undertake lending activities. Select the correct answer using the code given below.
Answer: 1 and 3 only
Pradhan Mantri MUDRA Yojana is aimed at
Answer: bringing the small entrepreneurs into formal financial system
A zero-minimum-balance account category prescribed by the RBI, of which the Jan Dhan account is the mass-scale application.
An agent authorised to deliver basic banking services on behalf of a bank in locations without a branch.
Transfer of subsidies and benefits straight into a beneficiary's bank account, replacing in-kind or intermediary-routed delivery.