NEW DELHI: The Finance Ministry is set to review the development of various financial inclusion schemes as it has called a meeting of heads of Public Sector Banks (PSBs) on Wednesday.
The meeting is scheduled to be chaired by Financial Services Secretary M Nagaraju and review schemes including Jan Suraksha and Mudra Yojana, and PM SVANidhi Schemes, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Suraksha Bima Yojana among others.
The PMSBY provides insurance cover of Rs 2 lakh for accidental death or total permanent disability and Rs 1 lakh for partial permanent disability to people in the age group of 18-70 years.
While the PMJJBY offers life insurance cover of Rs 2 lakh, in case of death due to any reason, to people in the age group of 18-50 years having a bank or post office account, who give their consent to join or enable auto-debit of premium.
PM SVANidhi Scheme was launched in June 2020 by the government as a micro-credit facility with an aim to empower street vendors to recover losses incurred as a result of the Covid-19 pandemic.
The meeting would be crucial as it is coming near to the presentation of the Union Budget 2025.
Agencies