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SBI aims to expand Jansuraksha schemes reach in Rural India

By Gloria Mathias

October 25, 2023

  • Daman & Diu
  • Fintech news
  • Fintech news India
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BI, State Bank of India, India, Gram Panchayat, Rural India, InsurTech, Insurance India, The State Bank of India (SBI) has organised a comprehensive workshop aimed at enhancing the outreach of Jansuraksha schemes at the Gram Panchayat level.

The workshop brought together bank officials from 11 States and Union Territories with the goal of empowering the Lead district Managers to facilitate the adoption of two important schemes:

Pradhan Mantri Jeevan Jyothi Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) among the eligible citizens. As part of this drive, officials of the Bank will raise awareness by organising successful camps in every Gram Panchayat and Ward in each district across the nation.

This initiative underscores SBI’s unwavering commitment to financial inclusion. It seeks to ensure financial security through PMJJBY and PMSBY.

Under the PMJJBY scheme, individuals can obtain life insurance coverage, while PMSBY offers accidental insurance coverage of ₹2.00 lacs each, all at an affordable premium of ₹436 and ₹20 per annum, respectively.

The workshop saw the participation of all Lead District Managers (LDMs) responsible for districts assigned to SBI, SLBC officials, and Nodal Officers (Lead Bank) from the States and Union Territories of Uttar Pradesh, Rajasthan, Haryana, Punjab, Himachal Pradesh, Jammu & Kashmir, Maharashtra, Gujarat, New Delhi, Uttarakhand, and Daman & Diu.

Prashant Kumar Goyal, Joint Secretary (FI), Department of Financial Services, Government of India, emphasising the objective of achieving complete coverage of eligible citizens under the Jansuraksha Scheme, stated, “Our goal is to cover 100% eligible citizens under the Jansuraksha Scheme.”Shri. Alok Kumar Choudhary, MD (RB & O) at SBI, motivated the participants to extend banking services, including government schemes like PMJJBY and PMSBY, to all sections of society, with a particular focus on unbanked and under-banked areas.”

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