BANKING AFFAIRS

Detailed explanation-1: -The premium of Rs. 200/-per person per annum is shared equally by the Central Government and the State Government. The member to be covered should be aged between 18 and 59 years.

Detailed explanation-2: -What is Aam Aadmi Bima Yojana? Aam Admi Bima Yojana was launched on October 2, 2007. It is an Indian social security scheme that aims at the low-income families of India. Fishermen, car drivers, cobblers, and others who are normally not on payroll can get the benefits from this scheme.

Detailed explanation-3: -The Aam Aadmi Bima Yojana provides for a disability claim of Rs. 37, 500 for permanent partial disability and Rs. 75, 000 in case of permanent total disability occurred due to an accident. Cover for Accidental Death: The Aam Aadmi Bima Yojana provides cover in case of accidental death.

Detailed explanation-4: -A Social Security Scheme was initiated and excellently administered by the Government of India in the form of the Aam Aadmi Bima Yojana for the citizens settled under 48 identified vocational/ occupational groups /rural areas with landless households.

Detailed explanation-5: -The members should be aged between 18 years completed and 59 years nearer birthday. The member should normally be the head of the family or one earning member of the below poverty line family (BPL) or marginally above the poverty line under identified vocational group/rural landless household.