‘Pradhan Mantri Jan-Dhan Yojana’ has been launched for
- (a) providing housing loan to poor people at cheaper interest rates
- (b) promoting women's Self-Help Groups in backward areas
- (c) promoting financial inclusion in the country ✓ UPSC's answer
- (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.