Extension of PMJJBY Renewals till 30th June, 2021 in IPPB Accounts

Following are the benefits of PMJJBY renewals for customers/branches:-

 

1.       Continued Life Coverage till 31^st May 2022.

2.       Waived-Off the initial waiting period of 45 days.

3.       Promotes small value savings for the persons at the bottom of pyramid.

4.       Recurring Revenue for the Bank.

5.       Ensures CASA Build Up.

6.       Engagement with the customer.

7.       Recurring Incentive for End User.

 

Note:- Auto-Debit Exercise would be run multiple times in the next 10-12 days. Customers would be intimated if the balance on that day is insufficient

F. No.6 -912019-PBl

Government of lndia

Ministry of Communications

Department of Posts

(PBI Division)

 

Dak Bhawan, New Delhi

Date: 08.01 .2021

 

To,

All CPMsG

 Sub: - SOP (Standard Operating Procedure) regarding Prime Minister Jeevan Jyoti Bima Yojana (PMJJBY) through IPPB.

Respected Madam / Sir,

India Post Payments Bank (IPPB) has launched Prime Minister Jeevan Jyoti Bima Yojana (PMJJBY) The aim of PMJJBY is to provide financial security to the poor and underprivileged, especially in unbanked and remote areas of lndia, due to the loss of a family member who is primarily the breadwinner. The low-cost insurance scheme seeks to bring large sections of underserved and unserved population into the financial mainstream

 

2.ln this regard, please find enclosed copy of the approved Standard Operating Procedure and features. This may be circulated to all Post Offices providing IPPB services and ensure that the procedure is adopted as per the enclosure

 Enclosures: As above.

 

 (AbhinavPrata p Singh)

ADG (PBI)

 

Copy to:

I DDG (FS) for information please

2 MD & CEO, IPPB for information please