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The finance ministry Monday asked banks and the state-run Life Insurance Corp (LIC) to make availablelicfor the Rs.30,000 life cover available under the Pradhan Mantri Jan Dhan Yojana (PMJDY).

The LIC has also been asked to settle claims within 15 days of the receipt of the claim form.

“Banks and LIC were asked to make claim forms readily available in their website. LIC was asked to settle the claim within 15 days from the date of receipt of claim, if otherwise in order.

“The settlement process should not exceed 30 days in any case,” the finance ministry said in a statement here following a video conference between joint secretary Anurag Jain and executive directors of public and private sector banks to review the progress of the Jan Dhan Yojana.

Till Dec 22, banks have opened 9.83 crore bank accounts under the prime minister’s financial inclusion scheme and issued 7.28 crore RuPay cards.

Banks were also asked to issue passbooks to all account holders and activate RuPay cards.

The banks have agreed to complete this task by Jan 15, 2015.

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1 year 9 months ago

No one is mention what would happen if the person does not able to sign, whether she /he would get ATM card.