________ is the National Mission for Financial Inclusion, which includes an integrated approach towards bringing about comprehensive financial inclusion among all households in the country.

Key Points

• Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched by Prime Minister Narendra Modi on 28th August 2014.
• The scheme aims to ensure access to financial services, including banking/savings and deposit accounts, remittance, credit, insurance, and pension in an affordable manner.
• It is a National Mission for Financial Inclusion to ensure that every household has at least one basic bank account.
• The scheme also provides an accidental insurance cover of ₹2 lakhs and a life cover of ₹30,000 payable on the death of the beneficiary, subject to fulfillment of the eligibility condition.

Additional Information

• Ayushman Bharat - Pradhan Mantri Jan Arogya Yojana (AB-PMJAY)
  • It is a national health insurance scheme spearheaded by the Ministry of Health and Family Welfare
  • It is considered to be the world's largest government-financed health assurance initiative.
  • It aims to provide free access to health insurance coverage for India's low-income earners.
  • AB-PMJAY provides a cover of Rs. 5 lakhs per family per year, catering specifically to secondary and tertiary care hospitalization across public and private impanelled hospitals throughout the country.
  • This significant scheme is fully financed by the Indian government, serving as an important stepping stone towards achieving universal healthcare in India.
• Pradhan Mantri Suraksha Bima Yojana (PMSBY)
  • It is a government-backed accident insurance scheme in India launched on May 9, 2015, by PM Narendra Modi.
  • PMSBY aims to provide a highly affordable insurance scheme for the poor and underprivileged people.
  • It is available to individuals in the age group of 18 to 70 years who own a bank account.
  • At a nominal annual premium of Rs.12, beneficiaries receive a risk coverage of Rs.2 lakh for accidental death and full disability, and Rs.1 lakh for partial disability.
  • This prime ministerial scheme plays a pivotal role in uplifting the vulnerable strata of society and is a step towards protection against unforeseen risks.
• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
  • It was launched on 9th May 2015 by PM Narendra Modi
  • It is a government-backed life insurance scheme in India aimed at increasing the penetration of life insurance coverage among Indians.
  • It is available to individuals aged 18 to 50 years with a bank account.
  • This scheme offers a life cover of Rs. 2 lakhs for a one-year period, which extends from June 1st to May 31st of the next year.
  • The annual premium for this policy is ₹436 (US$5.50).
  • The amount will be automatically debited from the subscriber's account annually.
  • The PMJJBY scheme is an important initiative taken by the Indian government to provide affordable life insurance to its citizens.