Union Government launches Suraksha Bandhan drive in Mission Mode.

In order to build on the very encouraging response to the two very affordable and convenient to subscribe insurance schemes, namely the Pradhan Mantri Suraksha Bima Yojana (PMSBY) for accident and disability cover of up to Rs.2 Lakh at an annual premium of Rs.12 and the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) for a term life cover of Rs.2 Lakh at an annual premium of Rs.330, launched by the Prime Minister Shri Narendra Modi on 9th May 2015, a special enrolment drive is being launched by participating Banks and Insurance Companies in the months of August-September, in the backdrop of the forthcoming festival of Raksha Bandhan. The drive will reach out to the pool of eligible Bank account holders who are yet to be enrolled under these schemes.

This “Suraksha Bandhan” drive aims to take forward the Government’s objective of creating a universal social security system in the country, targeted especially at the poor and the under-privileged. The envisaged social security initiative also includes the Atal Pension Yojana (APY), launched along with the above two insurance schemes, which addresses the issue of old age income security by facilitating regular contributions during the working life of the subscriber for a guaranteed pension at the age of 60, with certain Government contribution for eligible subscribers who enroll by 31st December, 2015.
 
Participating Banks supported by the participating Insurance Companies will work towards local outreach, awareness building and enrolment facilitation during this drive. All eligible citizens are requested to contact their Bank branches for enrolment.
 Public service organizations supported by peoples representatives, field functionaries of Govt. Departments / Ministries working with the unorganized / informal sector and Banks / Insurance companies are expected to participate in these efforts through outreach drives, camps etc. in large numbers during this period.