The Finance Ministry has approved hiking the premium rates of Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).
The premium rates have been revised by making it ₹1.25 per day premium for both schemes. Revised premium rate for PMJJBY is ₹436, earlier it was ₹330 and PMSBY hiked from ₹12 to ₹20.
Government set a target to increase the coverage to 15 crore under PMJJBY and to 37 crore under PMSBY in the next five years.