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.
