The Centre has increased the premium rates for its flagship insurance schemes, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), for the first time in seven years due to "long-standing adverse claims experience", and to make them economically viable. The premium for PMJJBY would increase from Rs 330 to Rs 436 a year effective June 1, and the PMSBY premium would rise from Rs 12 to Rs 20, the Ministry of Finance said in a statement. PMJJBY provides life insurance cover worth Rs 2 lakh to all account holders aged 18-50 years.
These schemes came into force from June 1.
The cover provided under the Centre's Pradhan Mantri Suraksha Bima Yojana, which is a vital safety net for them, ended almost a year back on May 31, 2020. Ever since, there hasn't been much progress on the higher insurance coverage of Rs 5 lakh promised under the newly launched Pradhan Mantri Matsya Sampada Yojana, reports Sanjeeb Mukherjee.
The NDA government has asked states to enrol all MNREGA workers under the three newly-launched social security schemes.
According to insurers, the premium is quite low, claims are very high.
55 million people already in the social security net
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
Bureaucrats heading disinvestment and financial services usually don't get appointed as finance secretary.
Four recent instances help us understand why Prime Minister Narendra Modi could truly be called the chief human resources officer (CHRO) of the country.
All the poor people identified by the Socio Economic and Caste Census 2011 will be eligible for the scheme, officials said, adding that it will be linked to Aadhar but will not be a mandatory condition for availing the benefit.
The applicant must have an operational savings bank account.
As Prime Minister Narendra Modi is set to deliver his third Independence Day speech on August 15, he is inviting ideas from citizens on issues he should speak on
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances