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Mangaluru, May 07: Union Law Minister DV Sadananda Gowda will launch three social security schemes of the Centre in Mangaluru on Saturday.
Addressing presspersons here on Thursday, Lakshmikantha Reddy, General Manager of Corporation Bank, said that Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyothi Bima Yojana, and Atal Pension Bima Yojana will be launched on that day.
The Minister in-charge of Dakshina Kannada district, B Ramanatha Rai, and the Member of Parliament from Dakshina Kannada, Nalin Kumar Kateel, will be present on the occasion.
Pradhan Mantri Jan Suraksha Bima Yojana (PMSBY):
The scheme will be offered by all the public sector general insurance companies and all other insurers who are willing to join the scheme and tie up with banks for this purpose. This scheme is offered for the age group of 18 to 70 years who have a bank account. Any person, having a bank account, can give a simple form to the bank every year before 1st June in order to join the scheme. Only Rs 12 has to be paid per annum. Accidental death and full disability Rs 2 lacs and partial disability Rs 1 lac will be given under the scheme.
Pradhan Mantri Jeevan Jyothi Bima Yojana (PMJJBY):
This scheme will be offered by Life Insurance Corporation and all other life insurers who are willing to join the scheme and tie up with banks for this purpose. This scheme is for the age group of between 18 to 50 years and having a bank account. People who join the scheme before completing 50 years can however continue to have the risk of life cover up 55 years subject to payment of premium. Only Rs 330 has to be paid per annum. Rs 2 lacs will be provided in case of death for any reason.
Atal Pension Bima Yojana (APY):
This scheme is a Government of India scheme, which is administered by the Pension Fund Regulatory and Development Authority. The scheme will be commenced from June 1st. This scheme is for the age group between 18 to 40 and is open to all bank account holders who are not members of any statutory social security scheme.
Sanjay Kumar Rao, Subbarao, Narendranath, Gururaj Rao, Mohan Kumar and others were also present on the occasion.