General Awareness Questions

A bank account under financial inclusion scheme Pradhan Mantri Jan Dhan Yojana (PMJDY) can be opened in any bank branch or business correspondent outlet. PMJDY is a government-run financial inclusion scheme aimed at ensuring access to services such as banking, savings, deposits, remittance, credit, insurance and pension at an affordable price. Bank accounts under the Jan Dhan scheme can be opened with zero balance. In other words, the account holder need not maintain any particular account balance to keep the account account. The government recently doubled the overdraft limit on Jan Dhan accounts. The overdraft limit of Jan Dhan accounts now stands at Rs 10,000, double than the previous limit of Rs 5,000, according to an official statement released last week. 

The Reserve Bank of India made a strong case for setting up a public credit registry in India to address the twin balance sheet problem of the banking sector and the corporate sector. Public credit registry coverage reports the number of individuals and firms listed in a public credit registry with current information on repayment history, unpaid debts, or credit outstanding. The number is expressed as a percentage of the adult population.