Government has announced the scheme of 'Jan Dhan Yojana' to encourage adults to open bank accounts. Which of the following is incorrect about the scheme ?
(A) The account holders get an accidental insurance coverage.
(B) Wages, social security payments and old age pension directly get transferred to bank accounts.
(C) There is a need to keep a minimum bank balance.
(D) The account does not allow overdraft facilities.
(E) This scheme promotes thrift habit.
Choose the correct answer from the options given below :
Government has announced the scheme of 'Jan Dhan Yojana' to encourage adults to open bank accounts. Which of the following is incorrect about the scheme ?
(A) The account holders get an accidental insurance coverage.
(B) Wages, social security payments and old age pension directly get transferred to bank accounts.
(C) There is a need to keep a minimum bank balance.
(D) The account does not allow overdraft facilities.
(E) This scheme promotes thrift habit.
Choose the correct answer from the options given below :
Solution
Jan Dhan Yojana is a zero balance account scheme, so statement (C) about needing a minimum balance is incorrect. The scheme also permits overdraft facility (up to a specified limit) to account holders, so statement (D) denying overdraft is also incorrect. Hence (C) and (D) only are incorrect.
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