The insurance schemes are -
- Pradhan Mantri Suraksha Bima Yojana (accident insurance) and
- Pradhan Mantri Jeevan Jyoti Yojana (life insurance)
- while the pension scheme has been named after former PM Atal Behari Vajpayee as Atal Pension Yojana.
The schemes will be simultaneously launched at 115 places across the country by ministers
Note
After the huge success of the JanDhan scheme under which 15 crore bank accounts were opened
* The first phase of the mission, starting this month, would end in August next year.
* Phase-1 of PMJDY begins on the August 28, 2014 and will last until August 14, 2015.
* The first phase will be focused on opening a bank account and providing credit facilities to those who are outside the banking system in urban and rural India.
* The second phase will start from 2015 till 2018.
* It will cover aspects such as micro insurance and pension schemes like 'Swavalamban'.
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