Maharashtra Finance Minister Sudhir Mungantiwar Wednesday said that he had taken a review meeting of bankers last week to promote the ‘Pradhan Mantri Bima Suraksha Yojana’ (PMSBY) which will be launched by Prime Minister Narendra Modi on May 9 along with two other ambitious schemes.
Modi will be launching three schemes – PMSBY, Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and an old age income security pension scheme – the Atal Pension Yojana (APY) throughout the country.
Mungantiwar said these schemes had been announced by Union Finance minister Arun Jaitley during his budget speech and the aim is to create a universal social security system, targeted especially at the poor and the under-privileged.
Mungantiwar added that Modi will initiate the launch of these schemes at a function to be held in Kolkata, while Maharashtra Chief Minister Devendra Fadnavis will simultaneously launch the schemes in Mumbai.
There will be 12 different launching programmes for these schemes in various districts of the state, he said.
“These are revolutionary schemes and if I can reach 11 crore people of Maharashtra, the entire scenario will change. There will be no restrictions of BPL (Below Poverty Level) or APL (Above Poverty Level) and thus anybody in the age group of 18 to 70 years can purchase PMSBY policy by only paying one rupee per month,” the minister said.
“In the APY scheme, if any person in the age group of 18 and 40 years, contributes at least Rs 42 a month till the age of 60, he will get a pension of Rs 1,000 per month and if he pays Rs 210 a month, he will receive pension of Rs 5,000 per month,” he added.
Mungantiwar said, however, these schemes will only be applicable to those who have a bank account.
“At times, there is a possibility that everyone in a family does not have a bank account. I have held a meeting with bankers to find a solution to this. We will also convey our difficulties to the Centre,” he added.