The RBI regulates the issuance of notes and reserve holdings, formulates monetary policy, issues government securities and provides financial supervision over commercial banks, financial institutions and non-bank financial companies to ensure currency stability. increase.
The following schemes are available to create a universal social security scheme especially for the poor and disadvantaged: 1. Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): – PMJJBY is 18 years old A life insurance plan for people between the ages of 18 and 18. 50 years have long-term savings accounts. The scheme provides renewable insurance starting at Rs.200,000 with an annual premium of Rs.330. 2. Pradhan Mantri Suraksha Bima Yojana (PMSBY): – PMSBY is an accident insurance scheme for people aged 18-70 with savings accounts. The risk coverage under this scheme is Rs.12 lakh per annum, Rs.20 lakh for accidental death and total disability and Rs.10 lakh for partial disability. 3. Atal Pension Yojana (APY): – APY is a pension scheme for all persons aged 18-40 who have a savings account at a bank/post office. Participants are guaranteed a monthly defined contribution pension at age 60. This system is managed by the Pension Fund Regulatory and Development Authority (PFRDA) as part of the overall administration and scheme architecture of the National Pension Plan (NPS).
