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ICICI Lombard Expert Blog

Pradhan Mantri Jan Dhan Yojana Settles 1,767 Claims

August 15 2017

The Government’s flagship financial inclusion programme known as Pradhan Mantri Jan Dhan Yojana (PMJDY) has settled 1,767 cases of accidental insurance that were filed among a total of 2,514. This scheme, announced on 15th August 2014 by Prime Minister Narendra Modi, provides an accident cover of ₹1 lakh, as well as a life cover of ₹30,000 which is payable to the account holder.

According to details released by the Finance Ministry, 2,514 insurance claims were made, out of which 1,767 were approved until August 4, 2017. A further 167 were being processed, 544 were rejected, and payment of 36 processed claims was awaited. The payment towards the claims were made to RuPay card holders; which have been issued to 22.7 crore of the total 29.48 crore account holders.

Under the life cover of the PMJDY scheme, till August 4 this year: 4,165 claims were paid, 577 rejected and 10 were under process. The PMJDY scheme was announced on August 15, but the programme was launched on August 28 across the country.

Source: Financial Express

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