Overview
The Ministry of Finance has announced a set of actions aimed at increasing enrolment and ensuring prompt benefit disbursement under the PMJJBY and its companion scheme PMSBY. As of 18 Feb 2026, the schemes cover 26.79 crore beneficiaries with 12.55 crore active policies, and boast a claim settlement ratio of 99.95 % with settlement times ranging from 0.61 to 17 days.
Key Developments
- Annual action plan issued on 13 May 2025 to curb policy lapses; shared with banks, insurers and the DFS.
- Four‑month Financial Inclusion Saturation Campaign conducted from 01 Jul 2025 to 31 Oct 2025 across 2.70 lakh Gram Panchayats and Urban Local Bodies (ULBs).
- On‑spot enrolment camps organised at the Gram Panchayat and ULB level, leveraging a network of 16 lakh Banking Correspondents (BCs).
- Launch of the Jansuraksha Portal (www.jansuraksha.gov.in) with all 12 public‑sector banks, 28 regional rural banks and 13 insurers onboarded.
Important Facts
During the last five years, the schemes received 10,75,337 claims, of which 10,41,853 were paid and 32,893 rejected, maintaining the high settlement ratio. The portal hosts enrolment forms, rules, FAQs and other material in English, Hindi and regional languages, enhancing transparency and accessibility.
Exam Relevance
Understanding these schemes is crucial for GS III (Economy) as they illustrate the government’s approach to financial inclusion, risk‑pooling, and social security for the informal sector. The role of BCs highlights the delivery mechanism of financial services, a recurring theme in questions on banking reforms. The coordination between the Ministry, banks, insurers and local bodies reflects inter‑departmental governance, relevant for GS II (Polity).
Way Forward
- Strengthen real‑time monitoring of enrolment and claim settlement through the claim settlement ratio dashboard.
- Expand the BC network and digital literacy programmes to further reduce policy lapses.
- Periodically update the annual action plan based on data from the Jansuraksha portal to address regional gaps.
- Encourage greater participation of private insurers while maintaining the low‑premium, high‑coverage model.
These steps aim to achieve near‑universal coverage, minimise delays, and reinforce the social‑security net for India’s vast informal workforce.