The Finance Ministry has rolled out an action plan and a four‑month Financial Inclusion Saturation Campaign to boost enrolment and speed up claim settlement under PMJJBY and PMSBY, covering 26.79 crore beneficiaries with a 99.95 % settlement ratio. The launch of the digitised Jansuraksha portal and the mobilisation of 16 lakh Banking Correspondents aim to deepen financial inclusion, a key topic for UPSC economics and polity papers.
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. UPSC 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.
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Overview
Finance Ministry’s digital push accelerates PMJJBY enrollment, bolstering social security for informal workers
Key Facts
PMJJBY & PMSBY cover 26.79 crore beneficiaries with 12.55 crore active policies (as of 18 Feb 2026).
Claim settlement ratio is 99.95%; settlement time varies between 0.61 and 17 days.
Annual action plan to curb policy lapses issued on 13 May 2025, shared with banks, insurers and DFS.
Financial Inclusion Saturation Campaign (01 Jul‑31 Oct 2025) reached 2.70 lakh Gram Panchayats and ULBs.
On‑spot enrolment camps used a network of 16 lakh Banking Correspondents (BCs) for last‑mile outreach.
Jansuraksha Portal (www.jansuraksha.gov.in) onboarded 12 public‑sector banks, 28 RRBs and 13 insurers; available in English, Hindi & regional languages.
In five years, 10,75,337 claims were lodged; 10,41,853 paid and 32,893 rejected.
Background & Context
PMJJBY and PMSBY are flagship social‑security schemes targeting India's informal sector, a core focus of financial inclusion policies. The Ministry's recent digital and grassroots interventions illustrate the convergence of technology, banking correspondents, and local self‑government bodies to deepen coverage and improve claim efficiency, aligning with the government's broader agenda of universal social protection.
UPSC Syllabus Connections
Prelims_GS•Panchayati Raj and Local GovernanceEssay•Economy, Development and InequalityPrelims_GS•Sustainable Development and InclusionGS2•Government policies and interventions for developmentGS2•Devolution of powers and finances to local levelsPrelims_CSAT•Basic NumeracyEssay•Democracy, Governance and Public AdministrationGS1•Poverty and Developmental Issues
Mains Answer Angle
GS III (Economy) – Analyse the effectiveness of digital platforms and decentralized outreach (Gram Panchayats, ULBs, BCs) in expanding social‑security coverage for informal workers. GS II (Polity) – Discuss the role of inter‑departmental coordination in implementing large‑scale financial‑inclusion schemes.