UPSC Prelims 2015 GS Paper I · Q1 of 100 Economy easy

'Pradhan Mantri Jan-Dhan Yojana' has been launched for

  1. (a) providing housing loan to poor people at cheaper interest rates
  2. (b) promoting women's Self-Help Groups in backward areas
  3. (c) promoting financial inclusion in the country ✓ UPSC's answer
  4. (d) providing financial help to the marginalized communities

Why the answer is (c)

• PMJDY (August 2014) is a national mission for financial inclusion: a basic bank account for every household with a RuPay debit card, accident insurance, overdraft facility and access to pension and credit — option (c).

• Over 50 crore accounts have been opened, forming the base of the JAM (Jan Dhan–Aadhaar–Mobile) trinity for direct benefit transfers.

• It is not a housing-loan scheme (a), an SHG scheme (b) or a targeted community grant (d).

• Hence option (c).

Why the other options are wrong

(a) providing housing loan to poor people at cheaper interest rates
PMJDY is not a housing-loan scheme.
(b) promoting women's Self-Help Groups in backward areas
PMJDY is not an SHG scheme.
(d) providing financial help to the marginalized communities
PMJDY is universal, not community-targeted aid.

Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2015, held on 23 August 2015. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.

Reading the answer is not the same as getting it right under a clock. Practise this question with UPSC's negative marking, and anything you miss goes into an error notebook until you get it right twice.

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