Question 31 from UPSC CSE 2015 - Economy

Question

Pradhan Mantri Jan-Dhan Yojana has been launched for

IASCODEX · Accepted Answer

Correct Option: C. promoting financial inclusion in the country

Strategy: Identify the scheme's core scope by linking it to the keyword 'financial inclusion'. Eliminate options focusing on narrower targets like specific groups or unrelated services such as housing loans. The correct answer is the one that directly addresses financial inclusion.

Key Info: The Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a flagship financial inclusion program launched on 28th August 2014.

**Main Aim:** To ensure affordable access to a range of financial services, including banking, remittance, credit, insurance, and pension, for every household.

**Key Features and Emphasis:**
- Universal access to banking/savings and deposit accounts.
- Issuance of RuPay debit cards with inbuilt accidental insurance cover.
- Provision of an overdraft facility.
- Promotion of formal banking to reduce reliance on informal moneylenders.

**Impact and Broader Goals:**
- Facilitated the mass opening of zero-balance bank accounts.
- Supported the adoption of digital payments and Direct Benefit Transfers (DBT).
- Contributed to expanding social security coverage.

**Scope:** The scheme is designed to integrate all unbanked citizens into the formal financial system and does not exclusively target women's groups, marginalized communities, or provide housing loans.

IASCODEX · Answer

Option A: providing housing loan to poor people at cheaper interest rates

IASCODEX · Answer

Option B: promoting women's Self-Help Groups in backward areas

IASCODEX · Answer

Option D: providing financial help to the marginalized communities