SarkariPYQ

SSC Selection Post 2022 PYQ — Question 42

SSC Selection Post - Matriculation Level 2022 - 2 Feb 2022 - Shift 2 • General Awareness • Q42

Back to paper

Who among the following was the Union Finance Minister when the Pradhan Mantri Jan Dhan Yojana was launched?

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. Arun Jaitley.

The Pradhan Mantri Jan Dhan Yojana (PMJDY), introduced on 28 August 2014, is a key initiative by the Government of India aimed at advancing financial inclusion across the country. At the time of its launch, Arun Jaitley was serving as the Union Finance Minister.

  • Its primary aim is to provide universal access to banking services for every household, especially those in rural and underserved areas.
  • Under PMJDY, individuals can open zero balance savings accounts and receive a RuPay debit card, accidental insurance cover up to ₹2 lakh, and life insurance for eligible account holders.
  • The scheme also offers overdraft facilities and enables direct benefit transfers (DBT) of government subsidies.
  • PMJDY has significantly increased banking penetration, promoted financial literacy, and empowered vulnerable groups by integrating them into the formal financial system.