Which statement about the Pradhan Mantri Jan Dhan Yojana (PMJDY) is incorrect, considering it aims to provide financial inclusion through basic savings bank accounts, insurance, and overdraft facilities?
1
Launched in 2014
2
Provides accounts with minimal paperwork
3
Provides accident cover up to Rs. 1,00,000 and life cover of Rs. 30,000
4
Overdraft facility of Rs. 20,000/- to every eligible adult
5
2 and 3