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May 26 SUMMARY The article titled "Mis-selling of a different kind: Are PMJJBY, PMSBY statistical illusions?" by Tamal Bandyopadhyay, published in Business Standard on May 25, 2025, critically examines the efficacy of two government-backed insurance schemes: the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY). PMJJBY Premium Details Annual Premium: ₹436 per member Coverage Amount: ₹2 lakh (in case of death) Age Eligibility: 18 to 50...
February 26 Pradhan Mantri Jan Arogya Yojana (PM-JAY) is a national public health insurance scheme of the Government of India that aims to provide free medical treatment and hospitalization for certain illnesses and procedures. It is the second component under Ayushman Bharat, which was launched on September 23, 2018, in Ranchi, Jharkhand by the Hon’ble Prime Minister of India, Shri Narendra Modi. PM-JAY is the largest health assurance scheme in the world, which aims to provide a health cover of Rs. 5 lakhs per family per year for secondary...
January 23 The Insurance Regulatory and Development Authority of India (IRDAI) is the regulatory body that oversees the insurance industry in India. It was established in 1999 as an autonomous and statutory body tasked with regulating and promoting the insurance and reinsurance industries in the country. Key functions of IRDAI include: Regulation and Supervision: IRDAI formulates regulations to ensure the fair conduct of the insurance business and protects the interests of policyholders. It also supervises and monitors the functioning of...
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