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Advisor Ladakh chairs review meeting on saturation of Social Security Schemes in UT Ladakh


Leh, April 6: A meeting to review the progress on saturation of Social Security Schemes in UT Ladakh was held under the Chairmanship of Advisor to Hon’ble Lieutenant Governor, Ladakh, Umang Narula. In-depth discussions with various bank representatives were made on three important schemes viz. Prime Minister Jeevan Jyoti Bhima Yojna (PMJJBY), Pram Mantri Suraksha Bima Yojana (PMSBY), and Atal Pension Yojana (APY). 


PMJJBY is a scheme for people in the age group of 18 to 50 years wherein a life cover of Rs. 2 Lakhs shall be provided with a premium of Rs. 330 per annum. The scheme is being offered by Life Insurance Corporation and all other life insurers who are willing to offer the product on similar terms with necessary approvals and tie up with banks for this purpose. Similarly, under PMSBY scheme, Rs 2 Lakh for accidental death and full disability and Rs. 1 Lakh for partial disability with a premium of Rs. 12 per annum. And under APY, 18 to 40 years and the contributions differ, based on the pension amount chosen. Subscribers would receive the guaranteed minimum monthly pension of Rs. 1000 or Rs. 2000 or Rs. 3000 or Rs. 4000 or Rs. 5000 at the age of 60 years.


Assistant General Manager, Union Territory Level Bankers Committee (UTLBC), Tsering Morup gave a detailed review of Social Security Schemes. Each bank representative apprised the Advisor of their current progress and future action plans.


Advisor Ladakh exhorted that the targets will be monitored for each bank on a monthly basis. He added that financial literacy campaigns are a must to spread awareness amongst the masses on the importance and benefits of schemes. He further asked the Information and Rural Development Department for wider dissemination of the schemes among the people through social media and electronic media for public outreach. Additionally, the banks should display posters in the bank offices, ATMs, and other public places.


Commissioner/ Secretary, Saugat Biswas stated that from Rural Development and Panchayat Department, Sarpanches and Panches shall be asked to proactively tie-up with banks and actively enrol people in mission mode. He also asked banks to display posters and publicize Common Facility Centers in villages.


Additional Secretary, Finance spoke about the need for sustained awareness camps in villages and to regularly evaluate registered camps with banks and share the targets with regard to APY.


The meeting was attended by Commissioner/ Secretary, Saugat Biswas; Commissioner/ Secretary, Padma Angmo; Secretary IRS, K Mehboob Ali Khan; Addl. Secretary Finance, Rajath Kumar, and representatives of banks through VC.

Ladakh Times is a participatory media house based in Ladakh, tells untold stories, playing an active role of collecting news and information.

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