BANKING AFFAIRS

Detailed explanation-1: -Incepted on August 10, 2000, Janashree Bima Yojana (JBY) is a government-sponsored socially oriented insurance scheme. Devised by the Central Government and Life Insurance Corporation (LIC) together, this scheme offers life insurance protection to rural and urban people below and marginally above poverty line.

Detailed explanation-2: -Janashree Bima Yojana was launched by both the Life insurance Corporation and the Central Government together on 10th August 2000. This insurance scheme is sponsored by the government and is devised to offer life insurance coverage to both urban and rural people, who are below and marginally above the set poverty line.

Detailed explanation-3: -The Janashree Bima Yojana Scheme gives members of female self-help groups a special service. This programme offers them Rs. 30, 000 for one year to help with their children’s schooling. Nodal agencies can be thought of as self-help organisations, NGOs, panchayats, or other types of institutional organisations.

Detailed explanation-4: -Janashree Bima Yojana (JBY) The Central Government and Life Insurance Corporation together launched the Janashree Bima Yojana (JBY) on August 10, 2000. JBY is sponsored by the government. The scheme is devised to provide life insurance cover to rural and urban people below and marginally above the poverty line.

Detailed explanation-5: -Ministry of Overseas Indian Affairs, Govt of India, (MOIA)is the prime stake holder and sponsor of the scheme.