and PMSBY were launched in 2015 to provide life and accidental insurance cover of Rs 2 lakh each to

The Union finance ministry has asked public-sector banks( PSBs) to intensify expanding the coverage of government-backed affordable life insurance schemes under its financial-inclusion initiative, according to a senior government official.... As of December 2024, the enrolment targets and achievements for the Pradhan Mantri Jeevan Jyoti Bima Yojana( PMJJBY) across various banks, including sponsored Regional Rural Banks( RRBs), show that only about half the annual target has been met, ” the offi

M Nagaraju, Secretary of the Department of Financial Services( DFS) under the Ministry of Finance, reviewed the progress of financial inclusion schemes with heads of public sector banks( PSBs) and senior executives from private sector banks on Wednesday.... The review meeting also included virtual participation by senior executives from the Small Industries Development Bank of India( SIDBI), Mudra Ltd, Indian Banking Association( IBA), and National Credit Guarantee Trustee Company Limited( NCGT