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State Bank of India's goal: Extending Jansuraksha Schemes to the grassroots level

November 01, 2023

State Bank of India's goal: Extending Jansuraksha Schemes to the grassroots level
In a significant move towards financial inclusion, the State Bank of India (SBI), India’s largest bank, organized a workshop aimed at spreading awareness about the Jansuraksha Schemes at the Gram Panchayat level. The workshop brought together officials from 11 States and Union Territories with the objective of empowering Lead District Managers to promote the adoption of key schemes: Pradhan Mantri Jeevan Jyothi Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) among eligible citizens.

Under PMJJBY, individuals can secure life insurance coverage, and PMSBY offers accidental insurance cover of ₹2.00 lakhs each, both at an affordable premium of ₹436 and ₹20 per annum, respectively. SBI plans to raise awareness by organizing camps in every Gram Panchayat and Ward across the nation.

Top executives including Prashant Kumar Goyal, Joint Secretary (FI) from the Department of Financial Services, Government of India, and Alok Kumar Choudhary, MD (RB & O) at SBI, spearheaded the initiative. The workshop included participation from Lead District Managers, SLBC officials, and Nodal Officers from several States and Union Territories.

Prashant Kumar Goyal emphasized the goal of achieving 100% coverage under the Jansuraksha Scheme, while Alok Kumar Choudhary motivated participants to extend banking services and government schemes to all sections of society, particularly focusing on unbanked and under-banked areas. 

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