Given below are two statements:
Statement I: Jan-Dhan account holders need not keep a minimum bank balance.
Statement II: Under the Jan-Dhan Yojana, only farmers are encouraged to open bank accounts.
In the light of the above statements, choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Statement I is true but Statement II is false.
Statement I: Jan-Dhan account holders need not keep a minimum bank balance. — True. There is no minimum balance.
Statement II: Under the Jan-Dhan Yojana, only farmers are encouraged to open bank accounts. — False. All adults are encouraged to open accounts.
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. …” |