Enjoy Banking on the Go. Download Mobile Banking App
Social security in the form of micro insurance can be a boon for the poor, when the income raising ability of the bread winner is impaired. In India, the micro insurance schemes are mostly implemented by the MFIs as a compulsory element along with the micro credit provided. Micro insurance schemes can be considered as a stepping stone to social protection.
Pradhan MantriSurakshaBimaYojana (PMSBY) & Pradhan MantriJeevanJyotiBimaYojana (PMJJBY) are two open ended micro insurance schemes initially launched on 9th May, 2015 and implemented w.e.f. 01.06.2015
PMJJBY is one of the flagship schemes under ambitious social security scheme captioned "JAN DHAN SE JAN SURAKSHA" launched by Government of India on 1st of June 2015. In absence of any formal social security system in India, Government had envisioned to cover a larger set of population through the Banking channel.
Under both schemes the risk period is fixed for 12 months i.e. 1st June to 31st May. In PMSBY any good health certificate is not required. PMJJBY scheme is also a strong enabler to canvass new savings Account which are fully funded in nature. It has been decided to aggressively canvass this scheme to our existing eligible SB Account holders who are still not covered under the scheme till date along with other SB accounts which are being opened fresh.
For fresh enrollments under both the schemes PMSBY & PMJJBY done starting from 1st June, 2016 and following amenities have been made available to our customers through which they can enroll themselves under PMSBY & PMJJBY:
Inauguration of PMJJBY, PMSBY & APY in Uttar Pradesh by Honorable Home Minister Shri Rajnath Singh
Inauguration of Urban Financial Inclusion Kiosk in Delhi by Executive Director Shri B B Joshi
Business Correspondent providing Banking Services in the FI Villages