The correct answer is: d) All of the above
The Pradhan Mantri Jan Dhan Yojana (PMJDY), also known as the Prime Minister’s People’s Money Scheme, is a financial inclusion scheme launched by the Government of India in 2014. The scheme aims to provide financial services, such as bank accounts, insurance, and pensions, to the poor and unbanked population of India.
The PMJDY has been implemented in Arunachal Pradesh with great success. As of March 2018, over 1.2 million bank accounts have been opened under the scheme in the state. These accounts have been linked to Aadhaar cards, which has helped to improve the efficiency of government welfare programs. The PMJDY has also helped to promote savings and financial literacy among the people of Arunachal Pradesh.
Here is a brief explanation of each option:
- Providing access to bank accounts: The PMJDY provides a basic savings bank account with zero balance to all eligible Indian citizens. These accounts are linked to Aadhaar cards, which helps to prevent fraud and identity theft.
- Facilitating direct benefit transfers: The PMJDY facilitates direct benefit transfers (DBTs) of government subsidies to beneficiaries’ bank accounts. This helps to reduce corruption and leakages in government welfare programs.
- Promoting savings and financial literacy: The PMJDY promotes savings and financial literacy among the poor and unbanked population. This is done through awareness campaigns, training programs, and other initiatives.