30 May 2015

DigiLocker


https://digitallocker.gov.in/

What is DigiLocker?

Dedicated personal storage space, linked to each resident’s Aadhaar number. DigiLocker can be used to securely store e-documents as well as store Uniform Resource Identifier (URI) link of e-documents issued by various issuer departments. The e-Sign facility provided as part of DigiLocker system can be used to digitally sign e-documents.

How does DigiLocker work?

To Sign-up for the DigiLocker you need to have an Aadhaar and mobile number registered with Aadhaar. Type your Aadhaar number and the captcha code. After clicking signup button, an OTP (One Time Password) will be sent to the registered mobile number and email-id. Enter OTP and click on “Validate OTP” button to complete the sign up and login.

How is DigiLocker going to help me?
It will minimize the use of physical documents and will provide authenticity of the e-documents It will provide secure access to Govt. issued documents. It will also reduce administrative overhead of Govt. departments and agencies and make it easy for the residents to receive services.



Send your queries to :support@digitallocker.gov.in

19 May 2015

Pradhan Mantri Atal Pension Yojana


Named after the ex-prime minister of India, Atal Bihari Vajpayee, Atal Pension Yojana was launched in continuation to the Jan Dhan Yojana Scheme to bring those employed in rural and unorganized sector under the ambit of Pension Schemes.  The idea of the scheme is to provide a definite pension to all Indians.

However, in order to get pension during your old age, you need to contribute accordingly.  The more you can contribute the more pensions you would get during old age.  The scheme is backed by Ministry of Finance, Government of India.  The scheme would mostly touch those working under unorganized sector.

Eligibility for Atal Pension Yojana
Any Indian national within the age group of 18 to 40 years is eligible to contribute under Atal Pension Yojana.  However, any member of a statutory social security scheme is not eligible for this pension scheme.

How to get Atal Pension Yojana?
In order to apply for Atal Pension Yojana, an Indian national needs to have an Aadhar Card and a working bank account.  Moreover, the Aadhar number should be duly linked with the respective bank account.  The last date for submission of forms for Atal Pension Yojana is 01st June 2015.  The pension account needs to be renewed every year before 01st of June.

Premium payable under Atal Pension Yojana
There is also a policy under the scheme, wherein if the pension account holder dies, the contributions would go to the family or the nominee of the account.  The premiums to the pension account would be paid through your bank account and it would be auto-debited from the bank account that is linked to Aadhar card.

Atal Pension Yojana is custom made for workers employed with the unorganized sector.  These workers live an insecure life since banking and pension products do not reach them from the employers and thus Atal Pension Yojana would at least ensure them of the basic requirement for life.

Indicative Contribution for Various Pension Options (in INR)


Moreover, those who join Atal Pension Yojana before 50 years of age can also enjoy the risk cover under the scheme.

Can Government Employees open Atal Pension Yojana Account ?


Yes Government employees can open Atal Pension account but will not be eligible for the government contribution on this account

18 May 2015

PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA (PMJJBY)


DETAILS OF THE SCHEME: The scheme will be a one year cover, renewable from year to year, Insurance Scheme offering life insurance cover for death due to any reason. The scheme would be offered / administered through LIC and other Life Insurance companies willing to offer the product on similar terms with necessary approvals and tie ups with Banks for this purpose. Participating banks will be free to engage any such life insurance company for implementing the scheme for their subscribers.

Scope of coverage: All savings bank account holders in the age 18 to 50 years in participating banks will be entitled to join. In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only. Aadhar would be the primary KYC for the bank account.

Enrolment period: Initially on launch for the cover period 1st June 2015 to 31st May 2016, subscribers will be required to enroll and give their auto-debit consent by 31st May 2015. Late enrollment for prospective cover will be possible up to 31st August 2015, which may be extended by Govt. of India for another three months, i.e. up to 30th of November, 2015. Those joining subsequently may be able to do so with payment of full annual premium for prospective cover, with submission of a self-certificate of good health in the prescribed proforma.

Enrolment Modality: The cover shall be for the one year period stretching from 1st June to 31st May for which option to join / pay by auto-debit from the designated savings bank account on the prescribed forms will be required to be given by 31st May of every year, with the exception as above for the initial year. Delayed enrolment with payment of full annual premium for prospective cover may be possible with submission of a self certificate of good health. Individuals who exit the scheme at any point may re-join the scheme in future years by submitting a declaration of good health in the prescribed proforma. In future years, new entrants into the eligible category or currently eligible individuals who did not join earlier or discontinued their subscription shall be able to join while the scheme is continuing, subject to submission of self-certificate of good health.

Benefits: Rs.2 lakhs is payable on member’s death due to any reason

Premium: Rs.330/- per annum per member. The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment, as per the option given, on or before 31 st May of each annual coverage period under the scheme. Delayed enrollment for prospective cover after 31st May will be possible with full payment of annual premium and submission of a self-certificate of good health. The premium would be reviewed based on annual claims experience. However, barring unforeseen adverse outcomes of extreme nature, efforts would be made to ensure that there is no upward revision of premium in the first three years. 2

Eligibility Conditions: a) The savings bank account holders of the participating banks aged between 18 years (completed) and 50 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the above modality, will be enrolled into the scheme. b) Individuals who join after the initial enrollment period extending up to 31st August 2015 or 30th November 2015, as the case may be, will be required to give a selfcertification of good health and that he / she does not suffer from any of the critical illnesses as mentioned in the applicable Consent cum Declaration form as on date of enrollment or earlier.

Master Policy Holder: Participating Banks will be the Master policy holders. A simple and subscriber friendly administration & claim settlement process shall be finalized by LIC / other insurance company in consultation with the participating bank.

Termination of assurance: The assurance on the life of the member shall terminate on any of the following events and no benefit will become payable there under:

1) On attaining age 55 years (age near birth day) subject to annual renewal up to that date (entry, however, will not be possible beyond the age of 50 years).

2) Closure of account with the Bank or insufficiency of balance to keep the insurance in force.

3) In case a member is covered under PMJJBY with LIC of India / other company through more than one account and premium is received by LIC / other company inadvertently, insurance cover will be restricted to Rs. 2 Lakh and the premium shall be liable to be forfeited.

4) If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium and a satisfactory statement of good health.

5) Participating Banks shall remit the premium to insurance companies in case of regular enrolment on or before 30th of June every year and in other cases in the same month when received.

Administration: The scheme, subject to the above, will be administered by the LIC P&GS Units / other insurance company setups. The data flow process and data proforma will be informed separately.

It will be the responsibility of the participating bank to recover the appropriate annual premium in one installment, as per the option, from the account holders on or before the due date through ‘auto-debit’ process.

Members may also give one-time mandate for auto-debit every year till the scheme is in force. 3 Enrollment form / Auto-debit authorization / Consent cum Declaration form in the prescribed proforma shall be obtained and retained by the participating bank. In case of claim, LIC / insurance company may seek submission of the same. LIC / Insurance Company reserves the right to call for these documents at any point of time.

The acknowledgement slip may be made into an acknowledgement slip-cum-certificate of insurance.

The experience of the scheme will be monitored on yearly basis for re-calibration etc., as may be necessary.

Appropriation of Premium:
1) Insurance Premium to LIC / insurance company : Rs.289/- per annum per member

2) Reimbursement of Expenses to BC/Micro/Corporate/Agent : Rs.30/- per annum per member

3) Reimbursement of Administrative expenses to participating Bank: Rs.11/- per annum per member

The proposed date of commencement of the scheme will be 1st June 2015.The next Annual renewal date shall be each successive 1 st of June in subsequent years.


The scheme is liable to be discontinued prior to commencement of a new future renewal date if circumstances so require.

17 May 2015

PRADHAN MANTRI SURAKSHA BIMA YOJANA

DETAILS OF THE SCHEME

The scheme will be a one year cover, renewable from year to year, Accident Insurance Scheme offering accidental death and disability cover for death or disability on account of an accident.
Scope of coverage: All savings bank account holders in the age 18 to 70 years in participating banks will be entitled to join. In case of multiple saving bank accounts held by an individual in one or different banks, the person would be eligible to join the scheme through one savings bank account only.
Enrollment Modality / Period: The cover shall be for the one year period stretching from 1st June to 31st May for which option to join / pay by auto-debit from the designated savings bank account will be required to be given by 31st May of every year, extendable up to 31st August 2015 in the initial year. Initially on launch, the period for joining may be extended by Govt. of India for another three months, i.e. up to 30th of November, 2015. Joining subsequently on payment of full annual premium may be possible on specified terms. However, applicants may give an indefinite / longer option for enrolment / auto-debit, subject to continuation of the scheme with terms as may be revised on the basis of past experience. Individuals who exit the scheme at any point may re-join the scheme in future years through the above modality. New entrants into the eligible category from year to year or currently eligible individuals who did not join earlier shall be able to join in future years while the scheme is continuing.

Benefits

As per the following table:
 Table of BenefitsSum Insured
a.DeathRs. 2 Lakh
b.Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight of one eye and loss of use of hand or footRs. 2 Lakh
c.Total and irrecoverable loss of sight of one eye or loss of use of one hand or footRs. 1 Lakh

Premium

Rs.12/- per annum per member. The premium will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment on or before 1st June of each annual coverage period under the scheme. However, in cases where auto debit takes place after 1st June, the cover shall commence from the first day of the month following the auto debit.
The premium would be reviewed based on annual claims experience. However, barring unforeseen adverse outcomes of extreme nature, efforts would be made to ensure that there is no upward revision of premium in the first three years. The scheme is liable to be discontinued prior to commencement of a new future renewal date if circumstances so require.

Eligibility Conditions

The savings bank account holders of the participating banks aged between 18 years (completed) and 70 years (age nearer birthday) who give their consent to join / enable auto-debit, as per the above modality, will be enrolled into the scheme.

Master Policy Holder

Participating Bank - HDFC Bank will be the Master policy holder for the Master Policy No. 0206004215P999990008 of United India Insurance Cos. Ltd.

Other Terms & Conditions

Termination of cover: The accident cover for the member shall terminate on any of the following events and no benefit will be payable there under:
  1. On attaining age 70 years (age nearest birth day).
  2. Closure of account with the Bank or insufficiency of balance to keep the insurance in force.
  3. In case a member is covered through more than one account and premium is received by the Insurance Company inadvertently, insurance cover will be restricted to one only and the premium shall be liable to be forfeited.
  4. If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium, subject to conditions that may be laid down. During this period, the risk cover will be suspended and reinstatement of risk cover will be at the sole discretion of Insurance Company.
  5. Participating banks will deduct the premium amount in the same month when the auto debit option is given, preferably in May of every year, and remit the amount due to the Insurance Company in that month itself.
For SMS based subscription : Nomination details as updated in the bank account will be taken. In case the customer is interested in updating details which are different from those in the Bank account, the customer is requested to contact the nearest branch for subscribing the policy. No separate intimation shall be provided for the same. Customers who need to update additional details like existing disability are advised to contact the nearest branch for subscribing to the policy. The customer response received through their registered mobile number shall be considered as consent for auto debit from their savings bank account.
For Emailer based subscription : Customer details as per the bank account number specified will be taken . In case the customer is interested in updating details which are different from those in the Bank account - the customer is requested to contact the nearest branch for subscribing the policy. Nomination details will be taken as per the Bank account specified . If the customer wants to update Nominee Details different from those in the Bank account , the same needs to be provided in the emailer web form . Customers who need to update additional details like existing disability are advised to contact the nearest branch for subscribing to the policy.No separate intimation shall be provided for the same. The customer response received through their registered email in the required format (sent in the emailer for the scheme) shall be considered as consent for auto debit from there savings bank account.
By giving his consent to the scheme , via sms based subscription / email based subscription / consent form the customer agrees to abide by the terms and conditions of the Scheme & to conveying his personal details, as required, regarding his admission into the Pradhan Mantri Suraksha Bima Yojana to United India Insurance Cos. Ltd. He also agrees that all information shared by him will form the basis of admission to the above Scheme and that if any information be found untrue, his membership to the Scheme shall be treated as cancelled.
The proposed date of commencement of the scheme will be 1st June 2015.The next Annual renewal date shall be each successive 1st of June in subsequent years.