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    Question

    Which of the following statements is not true about

    Pradhan Mantri Jan Dhan Yojna?
    A Universal Access to Banking Services Correct Answer Incorrect Answer
    B Financial Literacy Program Correct Answer Incorrect Answer
    C Creation of Credit Guarantee Fund Correct Answer Incorrect Answer
    D Free Insurance Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Six Pillars of the Scheme: Universal Access to Banking Services – Branch and Banking Correspondents. Financial Literacy Program– Promoting savings, use of ATMs, using basic mobile phones for banking, etc. Creation of Credit Guarantee Fund – To provide banks some guarantee against defaults. Insurance – Free accidental insurance cover on RuPay cards increased from Rs. 1 lakh to Rs. 2 lakh for PMJDY accounts opened after August 2018.

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