Correct Answer: Pradhan Mantri Jan Dhan Yojana (PMJDY)

Solution : The correct answer is (b) Pradhan Mantri Jan Dhan Yojana (PMJDY).

Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial inclusion program launched by the Government of India in 2014. The program aims to ensure access to financial services, such as banking facilities, insurance, and pensions, for all households, particularly in rural and underprivileged areas.

Under PMJDY, individuals are encouraged to open bank accounts with minimal documentation requirements, zero balance requirements, and access to various financial products and services. The program aims to provide every household with access to banking facilities and promote a culture of savings, financial literacy, and access to credit.

PMJDY also provides additional benefits such as life insurance coverage, overdraft facilities, and a RuPay debit card to account holders. It focuses on expanding banking infrastructure and outreach to rural areas, thus promoting financial inclusion and empowering individuals with formal banking services.