Dr. Vivek Joshi, Secretary, Department of Financial Services (DFS), Ministry of Finance, chaired a VC meeting yesterday with Chief Secretaries/ senior officials of all States/UTs to sensitise and impress upon them the salient features of the intensive three months long campaign to boost coverage of micro-insurance Schemes viz. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) at Gram Panchayat level. The 3-month campaign will cover all the districts in the Country from 01.04.2023 to 30.06.2023.

During the meeting, the states/UTs were urged to increase enrolments under the micro-insurance Schemes given the scope and size of population in states. Currently, the active enrolments under PMJJBY are 8.3 crore and 23.9 crore under PMSBY and claims of about Rs. 15,500 crore have been paid under these schemes.

Dr. Joshi sought support of Chief Secretaries of all the States/UTs for their active role in ensuring effective implementation and monitoring of the campaign. As a step towards amassing scale, Secretary, DFS, will also be taking a meeting with the heads of all Public Sector Banks on 13^th April 2023 also to ensure that saturation campaign reaches to maximum number of eligible beneficiaries.

ABOUT PMJJBY and PMSBY

The PMJJBY and PMSBY are aimed at providing life and accidental insurance cover to the citizens, especially the marginal sections of the society, as part of social security cover. PMJJBY provides insurance cover of Rs. 2 lakh in the event of death due to any reason whereas PMSBY provides accidental insurance cover of Rs. 2 lakh for death or full permanent disability and Rs. 1 lakh in case of partial permanent disability. The two schemes provide the much needed financial support to the subscribers and/or their families in such eventualities.

Micro insurance enrolment drive expands PMJJBY and PMSBY coverage through State coordination and bank led outreach. An intensive three month national campaign will expand coverage under the micro insurance Schemes PMJJBY and PMSBY via Gram Panchayat level enrolment drives. The DFS Secretary chaired consultations with Chief Secretaries to secure State commitment for outreach, monitoring and saturation enrolment, and will meet Public Sector Bank heads to align banking channels with campaign objectives. The schemes provide defined life and accidental insurance benefits to marginalised subscribers and the meeting stressed inter agency coordination to increase active enrolments.