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Tuesday, May 8, 2012

Group Insurance Scheme for Weaker Sections

Minister of State for Social Justice and Empowerment, Shri D.Napoleon informed Lok Sabha today in a written reply that Ministry of Finance, Department of Financial Services, is implementing two insurance schemes for the unorganized sector (weaker sections of the society), namely Aam Aadmi Bima Yojana (AABY) and Janashree Bima Yojana (JBY).

Under AABY, as on 31.3.2012, the scheme has provided insurance cover to about 2.03 crore lives in the country. During the financial year 2011-12 (as on 31.1.2012), claims amounting to Rs. 128.08 crore were paid, the Minister said

He further informed that under JBY, as on 31.3.2012, the scheme has provided insurance cover to about 2.21 crore lives in the country. During the financial year 2011-12 (as on 31.1.2012), claims amounting to Rs. 148.84 crore were paid. 
SOurce : PIB, May 7, 2012

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