Pradhan Mantri Jan-Dhan Yojana’ has been launched for

Pradhan Mantri Jan-Dhan Yojana’ has been launched for

providing housing loan to poor people at cheaper interest rates
promoting women's Self-Help Groups in backward areas
promoting financial inclusion in the country
providing financial help to the marginalized communities
This question was previously asked in
UPSC IAS – 2015
Pradhan Mantri Jan-Dhan Yojana (PMJDY) is a national mission launched to promote financial inclusion across India.
PMJDY aims to provide access to financial services such as banking/savings and deposit accounts, remittance, credit, insurance, and pension in an affordable manner. The primary objective is to ensure that every household in India has access to banking facilities, thereby bringing the unbanked population into the formal financial system.
Option A is incorrect; housing loans are covered under different schemes (e.g., Pradhan Mantri Awas Yojana).
Option B is incorrect; promoting SHGs is usually part of rural development schemes like the National Rural Livelihood Mission.
Option D is partially correct as financial inclusion benefits marginalized communities, but the scheme’s scope and primary objective is broader – encompassing all households and promoting access to a range of financial services, not just direct financial help. Financial inclusion (C) is the overarching goal.
Key features of PMJDY include opening of basic savings bank deposit accounts with focus on zero balance, RuPay Debit Card with inbuilt accident insurance cover, and an overdraft facility after satisfactory operation of the account for a certain period. It plays a crucial role in delivering government scheme benefits directly into beneficiary accounts.
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