Which statement is incorrect about the Pradhan Mantri Jan Dhan Yojana (PMJDY) that provides financial inclusion through basic savings bank accounts, insurance, and overdraft facilities for eligible adults?
1
Launched in 2014
2
Provides accounts with minimal paperwork and zero charges
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
None of the above