5 Yojanas key to PM Modi that you ought to know
The Union Finance Minister, Arun Jaitley will be reviewing the quarterly performance of the Public Sector Banks (PSBs) and the new initiatives launched by the current government, in Delhi.
These are five of the Pradhan Mantri Yojanas that you should to know about whose performance is being reviewed today.
1.Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
In an attempt to get the unbanked population, especially those working in unorganized sector, and getting them exposed to the mainstream banking systems, PM Modi had started PMJJBY.
This scheme offers renewable insurance coverage cover of Rs 2 lakh with a premium of only Rs 330, which can be availed by any Indian between 18-50 years of age.
2.Pradhan Mantri Surkasha Bima Yojana (PMSBY)
Under this scheme, people below the poverty line who cannot afford insurance will be given Rs 2 lakh for accidental death or full disability.
If the person suffers partial disability he will be given Rs 1 lakh. The scheme will be available to those bank account holders whose age group is 18 to 70 years.
The premium in PMSBY is only Rs 12 which will be collected through ‘auto debit’ facility.
3.Atal Pension Yojana
Under this scheme, the citizen will receive monthly pension of Rs 1000, 2000, 3000, 4000, or 5000 as per contribution which varies from Rs 42 to Rs 210 per month.
The minimum criteria for age to join the APY specifies that a person who is 18 years, while the maximum is 40 years.
In the APY, the fixed minimum pension amount would be guaranteed by the Government and would be available to the spouse on the death of the subscriber.
4.MUDRA Bank Yojana
This scheme was introduced mainly to help the small entrepreneurs who will now be given access to banking system, loans and financial products.
This scheme was launched on April 8, 2015 with a financial strength of Rs 20,000 crore. It aimed to serve 5.77 crore small businesses.
5.Stand up India
With a view to promoting entrepreneurship among these categories SCs, STs and women, this scheme was launched on April 5, 2016.
For businesses that will be set up in India, with an annual turnover lesser than Rs 25 crore will be funded anywhere in the range from Rs 10-100 lakh.