Consider the following statements about the Jan-Dhan Yojana:
(A) Its account holders can get accidental insurance coverage.
(B) Its account holders can get an overdraft facility.
(C) Old age pension and other social security payments of the government are transferred to these accounts.
(D) An account holder must keep a minimum bank balance.
(E) The scheme has led to more than 50 crore people taking bank loans.
How many of the statements given above are correct?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Three
The Jan-Dhan Yojana encourages all adults to open bank accounts and gives these accounts some benefits.
(A) Its account holders can get accidental insurance coverage. — Correct. The cover is of Rs. 1-2 lakh.
(B) Its account holders can get an overdraft facility. — Correct. An overdraft facility of Rs. 10,000 is available.
(C) Old age pension and other social security payments of the government are transferred to these accounts. — Correct. Wages under MNREGA (now VB-G RAM G) also come into these accounts.
(D) An account holder must keep a minimum bank balance. — Incorrect. There is no need to keep a minimum balance. This helped more than 50 crore people open accounts.
(E) The scheme has led to more than 50 crore people taking bank loans. — Incorrect. More than 50 crore people have opened bank accounts under it. The scheme is about accounts, not loans.
So three statements, (A), (B) and (C), are correct.
NCERT (2026-27): “Rural Banking — a Critical Appraisal: … To improve the situation, In recent years, all the adults are encouraged to open bank accounts as a part of a scheme known as Jan-Dhan Yojana. Those bank account holders can get Rs. 1-2 lakh accidental insurance coverage and overdraft facilities for Rs. 10,000 and get their wages if they get any government-related jobs and works under MNREGA (now known as Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission [Gramin] [VB-G RAM G]); old age pension and other social security payments of the government are transferred to bank accounts. There is no need to keep minimum bank balance. This has led to more than 50 crore people opening bank accounts; indirectly it has promoted thrift habit and efficient allocation of financial resources particularly in rural areas. …” |