SBI PMJJBY SCHEME
India Inc needs to think big and bold, push investments: Vivek Joshi, Ministry of Finance
Highlighting the government's focus on fostering capital expenditure and new investment in the economy, Joshi called for a pull in "one direction" from the three key players in capital expenditure and investment - private sector entrepreneurs, bankers, and the government.
SBI, Canara Bank deducting money for govt insurance schemes from savings accounts without consent; complaints flood X
Banks including State Bank of India (SBI) and Canara Bank are debiting insurance premiums for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJY) for life insurance, Pradhan Mantri Suraksha Bima Yojana (PMSBY) for accident insurance without obtaining prior consent from customers, the complaints on social media platform X read. All you need to know
SBI customers can use only Aadhaar to enrol in Atal Pension Yojana, other social security schemes
State Bank of India (SBI) customers can now enrol in various social security schemes using only Aadhaar. They need not carry their passbook with them at customer service points of SBI while opening up various social security scheme accounts like Atal Pension Yojana, Pradhan Mantri Suraksha Bima Yojana (PMSBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and others.
Women improve their share in both bank deposits as well as credit
Bank credit to women borrowers accounted for 22.5% share in bank loans to individuals, during 2021-22, up from 19.5 percent five years ago according to RBI's recently released basic statistical returns (BSR). A lot is being done by public sector banks thanks to the push by the government.
All about Pradhan Mantri Jeevan Jyoti Bima Yojana
This is a Government of India Life Insurance Scheme. It is a pure term insurance policy, renewable from year to year. PMJJBY is available to people in the age group of 18 to 50 years (life cover up to age 55) having a savings bank account who give their consent to join and enable auto-debit.
Social security schemes are more popular in urban than rural areas
Surprisingly, nearly 50 per cent of the subscribers of Atal Pension Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana are from urban areas.
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Jan Dhan controversy may figure in Arun Jaitley and bankers meet tomorrow
The meeting assumes significance in the light of recent report in a section of media citing specific instances where Re 1 or more was deposited by bankers.
Finance Minister Arun Jaitley to meet heads of PSU banks on September 16
Gross NPA of the public sector banks have surged from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15 to 9.32 per cent (Rs 4.76 lakh crore) in 2015-16.
Retail business can grow at 15-20% in next 2-3 years: Arijit Basu, CEO, SBI Life
"We do not look at the number of products as a challenge. The market is open; our total new business grew by 30% in 2015-16," says Basu.
FM Arun Jaitley to meet heads of PSBs, to discuss NPA among other issues on June 6
The meeting will review the annual performance of PSBs taking bad loans into account as well as financial institutions and deliberate on requirement.
Second edition of Gyan Sangam to kick off tomorrow, mergers and acquisitions in focus
Finance Minister Arun Jaitley, in the Budget 2016-17, said the government will unveil a road map for consolidation in public sector banks.
2nd edition of Gyan Sangam to start next week, NPAs in focus
Mounting bad loans and declining profitability of state-owned banks will be the focus of the second edition of Gyan Sangam, a retreat of heads of public sector financial institutions.
Bad loans turn worse in 2015; banks bet on seven-point 'Indradhanush' reforms
The commercial banking industry is also gearing up to face a new kind of competition in form of payments and small finance banks that would begin operations in 2016.
Life insurance companies to engage Experian to build fraud monitoring framework
Life insurance companies have selected Experian, a global data analytics company, to build a data repository and a fraud monitoring framework.
Insurers settle one claim a day under PM Narendra Modi's insurance schemes
"The turn around time in most of cases so far has been less than 10 days and we expect this trend to continue as far as claim settlement is concerned," Financial Services Secretary Hasmukh Adhia said.
22 claims settled in 30 days under PM Narendra Modi's insurance schemes
As many as 22 death and accident claims were settled within a month of the launch of the government's flagship social security insurance schemes.
Finance Minister Arun Jaitley to meet heads of PSU banks tomorrow
Jaitley will meet the heads of PSU banks tomorrow to review their performance and bad loans situation as also to persuade them to pass on RBI's rate cut benefit to borrowers for propping growth.
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