Banks still enrolling customers into Govt insurance schemes without consent, ‘creating’ paper trails - Report
11 months, 3 weeks ago

Banks still enrolling customers into Govt insurance schemes without consent, ‘creating’ paper trails - Report

New Indian Express  

Despite numerous public complaints, banks are reportedly still debiting premiums for two low-cost insurance schemes launched by Prime Minister Narendra Modi -- Pradhan Mantri Jeevan Jyoti Bima Yojana for life insurance, Pradhan Mantri Suraksha Bima Yojana for accident insurance, without obtaining prior consent from their customers, according to a media report. The investigative report also cited bank employees' posts on X where they have stated that it was a routine thing for banks to upload customers’ details in 'bulk' into the insurance-activation portal. Screenshots of the bank’s content management system as well as WhatsApp group chats featuring instructions on how to initiate bulk enrolment of customers in PMSBY confirmed the same, the report found. The report also claims that several of these bank employees have posted their grievances on X and there are YouTube videos guiding customers on how to exit these schemes as well.

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Insurance coverage under PMJJBY and PMSBY may be doubled in the upcoming budget
2 months ago

Insurance coverage under PMJJBY and PMSBY may be doubled in the upcoming budget

Live Mint  

New Delhi: The Central government may more than double the insurance coverage under its schemes, the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Pradhan Mantri Suraksha Bima Yojana, in the upcoming budget, two people aware of the matter told Mint. Last month, the finance ministry said the PMJJBY scheme has provided ₹2 lakh life insurance cover to over 210 …

48 crore sign up for ₹2 lakh accident insurance under PMSBY: Finance Ministry
3 months ago

48 crore sign up for ₹2 lakh accident insurance under PMSBY: Finance Ministry

Hindustan Times  

The Finance Ministry said on Saturday that about 48 crore people had signed up for accident insurance coverage worth ₹2 lakh via the Pradhan Mantri Suraksha Bima Yojana. With over 54 crore beneficiaries, the Pradhan Mantri Jan Dhan Yojana has emerged as a keystone of financial inclusion, enabling unbanked people all around the country, the Ministry continued. In August of …

PM Modi's Social Security Schemes: Over 55 crore enrollments registered in 8 years in three national programmes
1 year, 10 months ago

PM Modi's Social Security Schemes: Over 55 crore enrollments registered in 8 years in three national programmes

Firstpost  

PMJJBY has provided support to 6.64 lakh families receiving ₹ 13,290 crore worth of claims. About 55 crore people have enrolled themselves in the three new national social security schemes launched by Prime Minister Narendra Modi in 2015. Finance Minister Nirmala Sitharaman said that these social security schemes are dedicated to the welfare of the citizens, recognising the need for …

Centre raises premium for flagship insurance schemes PMJJBY, PMSBY
2 years, 9 months ago

Centre raises premium for flagship insurance schemes PMJJBY, PMSBY

Firstpost  

The premium rate of PMJJBY has been revised upward to Rs 1.25 per day, translating into an increase from Rs 330 to Rs 436 annually, while the annual premium for PMSBY has been hiked from Rs 12 to Rs 20 New Delhi: The government on Tuesday raised the premium for its flagship insurance schemes – Pradhan Mantri Jeevan Jyoti Bima …

FM Sitharaman reviews PMGKP, PMJJBY insurance schemes, calls for speedy settlements
3 years, 9 months ago

FM Sitharaman reviews PMGKP, PMJJBY insurance schemes, calls for speedy settlements

Live Mint  

Finance Minister Nirmala Sitharaman met the heads public and private insurance companies to review the progress made under Pradhan Mantri Garib Kalyan Package insurance scheme. The Finance Minister also asked the insurers to expedite disbursement of pending claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana during the pandemic. Talking to the heads of public and private insurers via video …

PMJJBY benefit can be availed by nominee in case the insured dies from covid
3 years, 9 months ago

PMJJBY benefit can be availed by nominee in case the insured dies from covid

Live Mint  

The government-backed Pradhan Mantri Jeevan Jyoti Bima Yojana is a one-year life insurance scheme that was launched around six years back. The cover commences from the date of account holder's request and ends on 31 May of next year. According to ICICI Bank's website, the premium reduced to ₹258 if the person signs up between September and November, ₹172 between …

Fact Check: Congress and The Wire spread falsehoods about Pradhan Mantri Fasal Bima Yojana
6 years, 3 months ago

Fact Check: Congress and The Wire spread falsehoods about Pradhan Mantri Fasal Bima Yojana

Op India  

As times evolve, a new system of lying has been invented. Once the loans get waived by the State, farmers tend to exit from the PM Fasal Bima Yojana Bank Loans and Insurance are closely related. Note- Before PMFBY was launched, there were three insurance schemes namely National Agriculture Insurance Scheme, Modified National Agriculture Insurance Scheme and Weather-based Crop Insurance …

Insurance schemes: challenge is to cover unorganised sector workers
9 years, 10 months ago

Insurance schemes: challenge is to cover unorganised sector workers

The Hindu  

The banks and general insurance agencies implementing the Jan Suraksha schemes that were launched on Saturday have the challenging task of bringing people in the unorganised sector under insurance cover. The Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana provide accidental insurance worth Rs. There are nearly 8 lakh savings bank accounts in the district with …

LIC seeks list of those to be insured under PMJDY from IBA
10 years, 2 months ago

LIC seeks list of those to be insured under PMJDY from IBA

India TV News  

Mumbai: LIC, which has been asked by the government to provide life cover worth Rs 30,000 to beneficiaries of Pradhan Mantri Jan-Dhan Yojana, has asked Indian Banks' Association to provide a list of those insured and details of claims to be given by it under the scheme. “We have written to the IBA, asking them to provide us a list …

New insurance linked savings scheme from Andhra Bank
11 years, 3 months ago

New insurance linked savings scheme from Andhra Bank

The Hindu  

Andhra Bank will be launching its new insurance-linked savings account scheme ‘AB Jeevan Abhaya Plus’ from December 1. Disclosing this at a press meet here on Saturday, the bank’s Deputy General Manager G. Ravi Kumar said that the scheme was being launched nationwide as part of the bank’s 70th year. Explaining the uniqueness of this scheme, Mr. Ravi Kumar said …

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