Accidental insurance cover in Pradhan Mantri Jan Dhan Yojna has been increased from 1 lakh to _____________ (PMJDY).
Rs.2 Lakh
Pradhan Mantri Jan Dhan Yojana (PMJDY) Accidental Insurance Cover
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a flagship financial inclusion program launched by the Government of India. It aims to provide access to financial services, namely Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
One of the key benefits offered under the PMJDY scheme is an accidental insurance cover linked to the RuPay Debit Card provided to account holders.
Increase in PMJDY Accidental Insurance
Initially, the accidental insurance cover provided with the RuPay card under the PMJDY scheme was Rs. 1 Lakh. However, the government later increased this cover to provide greater security and benefits to the account holders.
The accidental insurance cover was increased from Rs. 1 Lakh to Rs. 2 Lakh for PMJDY account holders who opened their accounts after August 28, 2018. For accounts opened before this date, the accidental insurance cover remains Rs. 1 Lakh.
This increase significantly enhances the social security aspect of the PMJDY scheme, offering a higher safety net in case of unfortunate accidents.
Summary of Accidental Cover
| PMJDY Account Opening Date | Accidental Insurance Cover |
|---|---|
| Before August 28, 2018 | Rs. 1 Lakh |
| On or After August 28, 2018 | Rs. 2 Lakh |
Therefore, the accidental insurance cover in Pradhan Mantri Jan Dhan Yojana has been increased from Rs. 1 Lakh to Rs. 2 Lakh for newer accounts.
Important Questions from Financial Inclusion
The Government of India has been actively working on the provisions of ‘FRDI’ Bill, 2017. What does ‘D’ stand for in ‘FRDI’?
RBI financial inclusion index (FI-Index) quality parameter captures information on which of the following:
A. Financial literacy
B. Consumer protection
C. Ease of access
D. Availability and usage
E. Inequality and deficiency in service
Choose the correct answer from the options given below:
- To support incubating startups that work in the field of livelihood, education and health Bharat Inclusion Initiative is launched. Which institute has launched this initiative?
_____________ is looking to tap into as it seeks to encourage people to gift ‘social security’ plans to their loved ones.
Lead Bank Scheme was launched in which year?
