Why in the news?

The Government informed Parliament that 23% of the 56.04 crore PM Jan Dhan Yojana accounts are inoperative.

About Pradhan Mantri Jan Dhan Yojana (PMJDY):

Launch: Introduced in 2014 as the world’s largest financial inclusion mission.
Objective: To provide banking to the unbanked, insurance to the unsecured, and credit to the unfunded.
Accounts: Basic Savings Bank Deposit (BSBD) accounts with zero balance, minimal paperwork, and e-KYC facility.
Benefits: RuPay debit card with accident insurance, overdraft, micro-insurance, and pension coverage.

Access: Universal banking through branches and Business Correspondents.
Overdraft: Up to ₹10,000 for eligible account holders.
Insurance: Accident cover of ₹1 lakh (₹2 lakh for new accounts post-2018); life cover of ₹30,000 for accounts opened between August 2014–January 2015.
Interoperability: Enabled via RuPay cards and Aadhaar-linked platforms.
Post-2018 Expansion: Coverage extended to all unbanked adults, overdraft limit enhanced, and eligibility age increased from 60 to 65 years.
Direct Benefit Transfers: Strengthened subsidy delivery through the JAM Trinity (Jan Dhan–Aadhaar–Mobile).

As per the Reserve Bank of India (RBI) guidelines (2009), an account is considered dormant if no transaction occurs for over two years.

[UPSC 2015] Pradhan Mantri Jan-Dhan Yojana’ has been launched for

Options:

(a) providing housing loan to poor people at cheaper interest rates

(b) promoting women’s Self-Help Groups in backward areas

(d) providing financial help to the marginalized communities