New RBI Grade B Notification Coming Soon... Prepare with Us!! Click here to enroll

    Register

    Question

    Which one of the following is not one of the pillars of PMJDY?

    A Universal access to banking services Correct Answer Incorrect Answer
    B Basic savings bank accounts with overdraft facility Correct Answer Incorrect Answer
    C Financial Literacy Program Correct Answer Incorrect Answer
    D Insurance Correct Answer Incorrect Answer
    E All of the above are pillars Correct Answer Incorrect Answer

    Solution

    The scheme was launched based upon the following 6 pillars: Universal access to banking services – Branch and Banking Correspondents Basic savings bank accounts with overdraft facility of Rs. 10,000/- to every household. Financial Literacy Program– 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. 1,00,000 and life cover of Rs. 30,000 on account opened between 15 Aug 2014 to 31 January 2015. Pension Scheme for Unorganized sector.

    Practice Next

    Relevant for Exams:

    ×
    ×