what is the premium amount for the pradhan mantri suraksha bima yojana
Pradhan Mantri Suraksha Bima Yojana Pradhan Mantri Suraksha Bima Yojana is available to people between 18 and 70 years of age with bank accounts. It has an annual premium of ₹12 (19¢ US) exclusive of taxes. The Service tax is exempted on Pradhan Mantri Suraksha Bima Yojana. The amount will be automatically debited from the account. The accident insurance scheme will have one year cover from June 1 to May 31 and would be offered through banks and administered through public sector general insurance companies.
Deposit Insurance and Credit Guarantee Corporation A maximum of Rs 1,00,000 is insured for each user for both principal and interest amount. If the customer has accounts in different banks, all of those accounts are insured to a maximum of Rs 1,00,000. However, if there are more accounts in same bank, all of those are treated as a single account. The insurance premium is paid by the insured banks itself. This means that the benefit of deposit insurance protection is made available to the depositors or customers of banks free of cost. The Corporation has the power to cancel the registration of an insured bank if it fails to pay the premium for three consecutive half-year periods. The Corporation may restore the registration of the bank, which has been de-registered for non-payment of premium, if the concerned bank makes a request in this behalf and pays all the amounts due by way of premium from the date of default together with interest.