Given below are two statements:
Statement I: Under the Jan-Dhan Yojana, no minimum bank balance is needed, and more than 50 crore people have opened bank accounts.
Statement II: The Jan-Dhan Yojana has indirectly promoted the thrift habit and efficient allocation of financial resources.
In the light of the above statements, choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Both Statement I and Statement II are true.
Statement I: Under the Jan-Dhan Yojana, no minimum bank balance is needed, and more than 50 crore people have opened bank accounts. — True. With no minimum balance, over 50 crore people opened accounts.
Statement II: The Jan-Dhan Yojana has indirectly promoted the thrift habit and efficient allocation of financial resources. — True. This is its indirect effect, mainly in rural areas.
NCERT (2026-27): “… 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. …” |