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Thursday 14 July 2016
Nuclear Supplier's Group (NSG)
Basis of China, New Zealand, South Africa & Pakistan's opposition:
Meanwhile Pakistan is opposing India's entry merely because it doesn't want India to possess high end technologies in the nuclear field. And Pakistan also fears that if India becomes a member it could prevent it from becoming a memberjust like how China is currently down voting India.
Thursday 20 August 2015
Schemes by Govt. of India [ Part 2 ]
1.Atal pension
yojana
- Launched- June 1, 2015
- The scheme focuses on unorganized sector. A pension provides people with a monthly income when they are no longer earning. A subscriber receives pension based on accumulated contribution out of his current income. The subscriber would receive the fixed monthly pension of Rs 1,000 to Rs 5,000 at the age of 60, depending on their contributions.
- To make the scheme more attractive, govt. would co-contribute 50 per cent of a subscribers contribution or Rs 1,000 per annum.
- If a person wants monthly pension of Rs 1,000 he would contribute Rs 181 a month. On his death his wife would get Rs 1,000 per month and after her death the nominee will get Rs 1.7 lakh.
- If a person wants monthly pension of Rs 3,000 he would contribute Rs 543 a month. On his death his wife would get Rs 3,000 per month and after her death the nominee will get Rs 5.1 lakh.
- Eligibility- The minimum age of joining Atal pension yojana scheme is 18 years and maximum age is 40 years. One needs to contribute till one attains 60 years of age.
- The scheme is open to all bank account holders who are not members of any statutory social security scheme.
2.One rank one
pension scheme
- The central government allotted Rs 1,000 crore for the implementation of one rank one pension scheme. According to the scheme, the armed forces personnel holding the same rank will get the same pension, regardless of the last drawn pay, years of service and the year’s served in a particular rank.
3.Krishi amdani bima
yojana
- To give an impetus to the dying agricultural practice.
- There is 14 crore hectares of agricultural land in India of which only 44 per cent is under irrigation.
- Pradhan mantri gram sinchai yojana would be introduced so that more agricultural land is irrigated.
- Talking about the plight of small and marginal farmers most of them were leaving the agricultural practice because of the uncertainty over the produce and returns.
- Krishi amdani bima yojana so that the farmers don’t bear any financial burden if their produce gets destroyed due to unexpected weather or for any other reason.
Monday 17 August 2015
Schemes by Govt. of India [ Part 1 ]
1.
Pradhan mantri suraksha bima yojana
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Launched- 9th may,2015
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Under ministry of finance
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The scheme will be a one year cover, renewable
from year to year, accident insurance scheme offering accidental death and
disability cover for death or disability on account of an accident.
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The scheme would be administered through public
sector general insurance companies and other general insurance companies
willing to offer the product on similar terms with necessary approvals and tie
up with banks for this purpose.
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Eligibility- Available to people in age group 18
to 70 years with bank account. Any person having a bank account and aadhar
number linked to the bank account can give a simple form to the bank every year
before 1st June in order to join the scheme. Name of the nominee to
be given in the form.
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Premium- Rs 12 per annum
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Payment mode- the premium will be directly
auto-debited by the bank from the subscribes account. This is the only mode
available.
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Risk coverage- For accidental death and full
disability Rs 2 lakh and for partial disability Rs 1 lakh.
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Terms of risk coverage- A person has to opt for
the scheme every year. He can also prefer to give a long-term option of
continuing in which case his account will be auto-debited every year by the
bank.
2.
Pradhan mantri jeevan jyoti yojana
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Launched- 9th may, 2015
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Under ministry of finance
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The scheme will be a one year cover, renewable
from year to year, insurance scheme offering life insurance cover for death due
to any reason.
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Eligibility- Available to people in the age
group of 18 to 50 and having a bank account. People who join the scheme before
completing 50 years can, however, continue to have the risk of life cover up to
the age of 55 years subject to payment of premium.
Ø
Premium- Rs 330 per annum. It will be
auto-debited in one installment.
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Payment mode- The payment of premium will be
directly auto-debited by the bank from the subscribers account.
Ø
Risk coverage- Rs 2 lakh in case of death for
any reason.
Ø
Terms of risk coverage- A person has to opt for
the scheme every year. He can also prefer to give a long-term option of
continuing in which case his account will be auto-debited every year by the
bank.
3.
Pradhan mantri jan dhan yojana
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Launched- 28th august,2014
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Under ministry of finance
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Scheme was launched with a revised target of 10
crore bank accounts by 26thJanuary, 2015.
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Payment solutions are an important part of
financial inclusion for which a new card payment scheme known as RuPay card has
been in operation since 8th may, 2014.
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Banks have further been asked to provide
universal coverage across all the six lakh villages of the country by providing
at least one basic banking account per household with indigenous RuPay debit
card having inbuilt accident insurance and life insurance cover
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The RuPay card is on par with other debit cards.
These two schemes are complementary and will enable achievement of multiple
objectives such as financial inclusion, insurance penetration and
digitalization.
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