Jan Suraksha Schemes Settle Over Rs 25,160 Crore in Claims Since 2015 Launch Finance Minister Nirmala Sitharaman announced on Saturday that the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY) have collectively settled claims worth Rs 25,160 crore since their launch in 2015. The schemes, part of the Jan Suraksha initiative, were introduced by Prime Minister Narendra Modi on May 9, 2015, to provide affordable financial protection to underprivileged and vulnerable sections of society. Marking their 11th anniversary, the schemes have been praised for their role in expanding insurance and pension coverage across India. Sitharaman highlighted that PMJJBY has settled claims exceeding Rs 21,500 crore for over 10.7 lakh families, while PMSBY has settled claims worth nearly Rs 3,660 crore for more than 1.84 lakh families. She emphasized the importance of the schemes in shielding citizens from life’s uncertainties and fostering long-term financial resilience. The data revealed that PMJJBY has recorded 27 crore enrollments, PMSBY 58 crore, and APY 9 crore since their inception. Minister of State for Finance Pankaj Chaudhary noted that the launch of the online Jan Suraksha Portal has simplified enrollment for citizens, eliminating the need to visit bank branches or post offices. He also highlighted the digitization of the claims process, which has expedited settlements and ensured timely support for bereaved families. Chaudhary reiterated the significance of the schemes in providing affordable insurance and security, underscoring their achievements over the past decade. As of April 29, 2026, the schemes have recorded significant female enrollments.#prime_minister_narendra_modi #finance_minister_nirmala_sitharaman #atal_pension_yojana #pradhan_mantri_suraksha_bima_yojana #pradhan_mantri_jeevan_jyoti_bima_yojana
PMSBY, PMJJBY, and APY Complete 11 Years of Social Security Coverage The Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), and Atal Pension Yojana (APY) have completed 11 years of providing social security benefits to citizens across India. The Ministry of Finance highlighted these schemes as initiatives designed to offer affordable financial protection, particularly to underserved and vulnerable groups. The programs aim to expand insurance and pension coverage, shielding citizens against life’s uncertainties and promoting long-term financial resilience. Union Finance Minister Nirmala Sitharaman stated that Prime Minister Narendra Modi launched the Jan Suraksha schemes, which include PMJJBY, PMSBY, and APY, to deliver low-cost insurance and pension benefits. She reported that over 27 crore individuals have enrolled in PMJJBY, 58 crore in PMSBY, and 9 crore in APY. Under PMJJBY, more than 10.7 lakh families have received claims totaling over 21,500 crore rupees. Similarly, PMSBY has settled claims worth nearly 3,660 crore rupees for over 1.84 lakh families. Sitharaman acknowledged the efforts of stakeholders, including banks and insurance companies, in making these schemes successful. Minister of State for Finance Pankaj Chaudhary emphasized the schemes’ focus on reaching the poorest segments of society. He noted that digitization and simplification of enrollment and claims processes have been central to their design. The launch of the online Jan Suraksha Portal has enabled citizens to enroll without visiting physical branches or post offices. Chaudhary also highlighted how digitizing the claims process ensures faster settlements, providing timely support to families facing loss.#pankaj_chaudhary #nirmala_sitharaman #atal_pension_yojana #pradhan_mantri_suraksha_bima_yojana #pradhan_mantri_jeevan_jyoti_bima_yojana
Atal Pension Yojana: Monthly Pension of ₹5,000 and Key Benefits for Unorganized Sector Workers The Atal Pension Yojana (APY) is a government initiative designed to provide financial security to workers in the unorganized sector. Launched in the 2015 budget, the scheme aims to ensure a stable monthly pension for individuals who retire after the age of 60. Participants can receive a pension ranging from ₹1,000 to ₹5,000 per month, depending on their contributions. Over 9 crore individuals have enrolled in the scheme, which is managed by the Pension Fund Regulatory and Development Authority (PFRDA). Eligibility for the scheme requires applicants to be between the ages of 18 and 40 and to have a savings account with a bank or post office. Individuals already enrolled in the National Pension System (NPS) or those paying income tax are not eligible. The contribution amount varies based on the age at which one joins the scheme. For example, those who join at 18 must contribute ₹42 to ₹210 per month for 42 years, while those joining at 40 must pay ₹291 to ₹1,454 per month for 20 years. The pension amount is determined by the total contributions made. For instance, joining at 18 and paying ₹210 monthly would result in a ₹5,000 pension at age 60. Similarly, joining at 40 with a monthly contribution of ₹1,454 would yield the same pension. The scheme also offers additional benefits, including a life partner pension for surviving family members and a lump sum payment to nominees in case of the participant’s death. To apply, individuals can register online or offline through banks or post offices. Required documents include an Aadhaar card, bank account details, mobile number, and KYC verification.#india #national_pension_system #atal_pension_yojana #pension_fund_regulatory_and_development_authority #unorganized_sector
Letters to the Editor Discuss IPL's Economic Impact, Cricket Rebalancing, Elderly Support, and Political Freebies The HinduBusinessLine's Letters to the Editor section on March 30, 2026, highlights several critical discussions on the Indian Premier League (IPL), cricket policy, elderly welfare schemes, and political freebie initiatives. The letters reflect diverse perspectives on how the IPL’s commercial success is reshaping India’s sports and economic landscape, while also addressing systemic challenges in cricket development and social support for aging populations. The first letter, titled “IPL: Income Generator,” emphasizes the IPL’s role as a major revenue driver for private equity (PE) and venture capital (VC) funds. The 19th edition of the IPL attracted significant investments, with PE players eyeing long-term growth and safe exits through the league’s lucrative revenue streams. Broadcast and sponsorship rights, along with massive ad revenue from deals, are highlighted as key factors attracting global investors. The letter notes that these financial mechanisms not only benefit the PE industry but also support smaller entities in logistics, food, beverage, and garment sectors, which leverage the IPL’s economic ripple effects. A second letter, “Rebalance Cricket,” argues that the IPL’s dominance cannot be reversed, urging policymakers to focus on rebalancing cricket rather than resisting its growth. The author suggests prioritizing domestic cricketers by offering better rewards, strengthening local leagues for Test and One-Day International (ODI) cricket, and utilizing non-metro city stadiums for year-round training.#private_equity #tamil_nadu #ipl #the_hindubusinessline #atal_pension_yojana
