The India Post Payments Bank (IPPB) has collaborated with PNB MetLife India Insurance Company Limited to launch Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). This scheme provides life cover of Rs 2 Lakh on death of the insured member due to any reason. It is optional for all the savings account holders with IPPB.
About Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY):
The Scheme was launched in 2015.It is a low cost insurance scheme that seeks to bring large sections of the underserved and unserved population into the financial mainstream. The Scheme is launched by Prime Minister Narendra Modi in Kolkata and Nodal Ministry for the scheme is Ministry of Finance.
- Age Limit– 18-50 years
- Premium– Rs 330
- Tax benefits can be availed on the premium paid under the policy under Section 80C of the Income Tax Act.
Recent Related News:
i.On September 29, 2020 Indian Bank launched IB-eNote, a green initiative to enable a total paperless working environment. This tool enables processing and tracking of notes put up by various offices digitally.
ii.SBI Cards & Payment Services Ltd (SBI Cards) partners with American Express Global Network Services (Amex) to provide global benefits and offer exclusive privileges to their premium consumer segments in India.
About India Post Payments Bank:
Establishment-2018
Managing Director (MD) and chief Executive Officer (CEO)– J. Venkatramu
Tagline– Aapka Bank, Aapke Dwaar
Headquarter– New Delhi
About PNB MetLife:
Managing Director (MD) and chief Executive Officer (CEO)– Ashish Kumar Srivastava
Headquarter– Mumbai,Maharashtra
Tagline– Milkar Life Aage Badhaein
