Ministry of Finance has called a meeting of heads of public sector banks (PSBs) on Wednesday to review the progress of various financial inclusion schemes (welfare schemes) including Jan Suraksha and Mudra Yojana. The meeting will be chaired by Financial Services Secretary M Nagaraju, in which representatives of private sector banks will also participate. According to sources, the progress of various financial inclusion schemes including PM Swanidhi schemes will also be discussed and reviewed in the meeting chaired by the Secretary. The Ministry of Finance has from time to time launched various campaigns under Pradhan Mantri Jan Dhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).
Insurance cover of Rs 2 lakh is available
PMJJBY provides a life insurance cover of Rs 2 lakh in case of death due to any cause to those aged 18-50 years who have a bank or post office account that enables opt-in or auto-debit of premium. Give your consent to do so. PMSBY provides an insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people aged 18-70 years who have a bank or post office account, and Who give their consent to opt in or enable auto debit of premium. The Standup India scheme, launched on April 5, 2016, focusing on economic empowerment and employment generation, has been extended till 2025.
PM Swanidhi scheme very successful
The objective of this scheme is to encourage all bank branches to extend loans to Scheduled Caste, Scheduled Tribe and women borrowers to set up new enterprises of their own. Last year, the government had approved the continuation of the Prime Minister Street Vendors Self-reliant Fund (PM Swanidhi) scheme till December 2024. PM Swanidhi Yojana was introduced by the government in June, 2020 as a micro-loan facility. Its objective was to empower street vendors to compensate for the losses incurred as a result of the COVID-19 pandemic. Affordable, collateral-free loans are provided to street vendors through PM Swanidhi.
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