Tag: Govt- Welfare oriented schemes

Govt- Welfare oriented schemes, their utility Public sector banks (PSBs) have set a target for the sale of flagship government insurance schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) in FY24. About PMJJBY: Launched on May 09,2015. PMJJBY offers life insurance cover of Rs 2 lakh, in case of death due to any reason, to people in the age group of 18-50 years having a bank or post office account, who give consent to join or enable auto-debit of premium. About PMSBY: Launched on May 09,2015. The PMSBY offers insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people in the age group of 18-70 years with a bank or post office account, who give consent to join or enable auto-debit of premium.

Govt- Welfare oriented schemes, their utility Pradhan Mantri MUDRA Yojana (PMMY) Banks and financial institutions have sanctioned Rs 23.2 lakh crore to over 40.82 crore beneficiaries under the Mudra Yojana since its launch in 2015. About PMMY: MUDRA stands for Micro Units Development & Refinance Agency Ltd. Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities. Three products: Mudra has developed three products namely 'Shishu', 'Kishore' and 'Tarun' as per the growth and financial requirements of the micro unit of the beneficiaries. Shishu: Paying off loans up to Rs.50,000. Kishore: Settlement of loans above Rs. 50,000 to Rs. 5 lakhs. Tarun: Settlement of loans above Rs. 5 lakh to Rs. 10 lakhs. Loans under this scheme are unsecured loans.