8 Insurance Schemes Launched by Modi Govt and How They Benefit Aam Aadmi

Pradhan Mantri Jan Dhan Yojana

Offers: A savings account with no mandatory minimum balance along with a Rupay ATM cum Debit card with an in-built accident and life covers up to 1 lakh and 30, 000 respectively.

Cost: Nil

Eligibility: All those from economically weaker sections of society. Also the PMJDY might be linked to future welfare and subsidy schemes in India and it is a must for all your staff.

Beneficiaries: Employees from unorganized sector. The scheme also makes it compulsory that the money should be directly transferred to the beneficiary’s accounts in order to develop banking habit in them.

Post Office Time Deposits and FDs

Offers: Post Office Time deposits with tenures of one to four years yield 8.4pct, while five-year deposits will earn 8.5 pct. Bank fixed deposits in the name of your employee’s senior citizen parents will earn 9-9.25 pct.

Cost: Minimum of 200 and there is no higher cap.

Eligibility: Anyone with bank accounts or Aadhar cards.

Beneficiaries: Could benefit anyone with short-term money requirements like coaching class fees may be.        

Also Read: Modi Pats PMO Officials For Hard Work, Dedication
PM Narendra Modi Presents 1 Year Report Card; Says Destroyed Power Circles