Question

Given below are two statements:
Statement I: Pradhan Mantri Jan Dhan Yojana is a financial inclusion program, where anybody can open a new bank account with zero balance
Statement II: The scheme was launched in the year 2011
In light of the above statements, choose the correct answer from the options given below:

• A. Both Statement I and Statement II are true
• B. Both Statement I and Statement II are false
• C. Statement I is correct but Statement II is false
• D. Statement I is incorrect but Statement II is true

Hint:

PMJDY Launch: 28th August 2014. Motto: 'Mera Khata, Bhagya Vidhata'. Objective: Universal Zero-Balance Banking.

Answer 1

The Correct Option is C

Step 1: Understanding the Concept:
National flagship financial inclusion programs for universal banking access in India.

Step 2: Detailed Explanation:
1. Statement I: The Pradhan Mantri Jan Dhan Yojana (PMJDY) is the National Mission on Financial Inclusion providing universal, affordable access to banking services, basic savings bank deposit (BSBD) zero-balance accounts, RuPay debit cards, and overdraft facilities. Hence, Statement I is correct.
2. Statement II: PMJDY was officially launched by Prime Minister Narendra Modi on 28th August 2014 (not 2011). Hence, Statement II is false.

Step 3: Final Answer:
Therefore, Statement I is correct but Statement II is false, matching option (C).