Pradhan Mantri Jan Dhan Yojana (PMJDY) is necessary for bringing unbanked to the institutional finance fold. Do you agree with this for financial inclusion of the poor section of the Indian society? Give arguments to justify your opinion.
Question source: mrunal.org
Write a timed answer in the appCurrent affairs to use in your answer
Centre and banks to settle UPI subsidy once merchant charges begin · 26 September 2026 · Covers one part · use it in the conclusion
Use it to conclude that inclusion of the poor needs not only accounts but low-cost, usable payment channels, which the state continues to subsidise.
- The 2024-25 incentive scheme (₹1,500 crore) paid banks 0.15% on small-merchant payments up to ₹2,000, and the 2026-27 Budget sets aside ₹2,000 crore for low-value BHIM-UPI and RuPay debit card payments.
- Even with the new MDR from 15 October 2026, payments up to ₹2,000 and merchants receiving up to ₹1 lakh a month stay free, protecting low-income users.
Also related
- PM Jan Dhan Yojana
A direct PMJDY question: use account numbers, zero-balance and dormancy data, and the insurance and overdraft add-ons.