Explain the role of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) and the JAM trinity in promoting financial incl

Exercises · Q6

Q. Explain the role of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) and the JAM trinity in promoting financial inclusion.

Manipur CohsemTextbookSubjectiveImportance★★★★★est

30% · 6/20 Questions

🔒 Locked · start free trial →

You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.

Start your 14-day free trial to unlock the full solution →

PMJDY. The Pradhan Mantri Jan-Dhan Yojana, launched in 2014 as the national mission for financial inclusion, drove the mass opening of zero-balance accounts for unbanked households. Each account is usually linked to a RuPay debit card and, in many cases, accident and life-insurance cover and an overdraft facility. Its main contribution was to build a huge base of first accounts across the country.

The JAM trinity. JAM stands for Jan-Dhan accounts, Aadhaar identity, and Mobile numbers. Linking these three makes it possible to transfer government benefits directly and securely to the correct person:

The Jan-Dhan account receives the money.
Aadhaar confirms the beneficiary's identity, preventing duplicate or fake claims.
The mobile number allows alerts and confirmation. …

Start your 14-day free trial to unlock the full solution →

Same / Similar Concept — real previous-year questions on the same or a closely similar concept, not this exact question.

COHSEM Manipur Higher Secondary 1st Year (Commerce) 2025Set ANNUAL1 markMCQ
$Q. In the following question, a statement of Assertion (A) is followed by a statement Reason(R). Choose the correct alternative among those given below : (A) Both Assertion(A) and Reason(R) are true and Reason(R) is the correct explanation of Assertion(A) (B) Both Assertion(A) and Reason(R) are true and Reason(R) is not the correct explanation of Assertion(A) (C) Assertion(A) is true but Reason(R) is false (D) Assertion(A) is false but Reason(R) is true Assertion(A) : A Self Help Group is a financial intermediary committee usually composed of 10 to 20 local women. Reason(R) : Self Help Groups empowers the saving habits especially of rural women.$
›Reveal solutionSolution

A is true, R is true, but R does not explain A.

Assertion (A) is correct: a Self Help Group (SHG) is indeed a voluntary financial intermediary/informal association, typically composed of 10 to 20 local women (or men) from similar socio-economic backgrounds, who come together to pool small savings regularly and extend credit to members.

Reason (R) is also correct as a general statement: SHGs do empower the saving habit, especially among rural women, by encouraging regular small deposits and building financial discipline and confidence.

…

Start your 14-day free trial to see the full solution →
COHSEM Manipur Higher Secondary 1st Year (Commerce) 2024Set ANNUAL1 mark
$Q. Suggest one banking service to improve the financial literacy and payment mechanisms to rural households in Manipur.$
›Reveal solutionSolution

Expanding the Business Correspondent (Bank Mitra) model — doorstep banking agents who also train villagers in using mobile/UPI-based digital payments — is a concrete, practical banking service to raise rural financial literacy and strengthen payment access in Manipur.

Many rural households in Manipur's hilly and remote areas lack easy physical access to bank branches, and many account-holders remain unfamiliar with digital payment tools. A Business Correspondent (Bank Mitra) posted in or visiting each village can (i) help households open and operate basic (BSBDA/Jan Dhan-type) accounts, (ii) conduct simple on-the-spot demonstrations of mobile banking, UPI and ATM/debit card use so households become comfortable with digital payment mechanisms, and (iii) explain savings, credit and insurance products in the local language. This single service — doorstep banking combined with hands-on digi …

Start your 14-day free trial to see the full solution →

←Previous questionQ5 — What is a Basic Savings Bank Deposit Account (no-frills account)? Why …→Next questionQ7 — How do self-help groups (SHGs) and microfinance help in financial incl…

Q.Explain the role of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) and the JAM trinity in promoting financial inclusion.

Concept understanding — Drivers of Financial Inclusion in India

Q.Explain the role of the Pradhan Mantri Jan-Dhan Yojana (PMJDY) and the JAM trinity in promoting financial inclusion.

🎓Unlock everything free for 14 days

Unlock everything free for 14 days