Mahatma Gandhi Bunkar Bima Yojana

Relevance: Prelims: Polity: Governance

Why in news?

• The Ministry of Textiles is implementing converged Mahatma Gandhi Bunkar Bima Yojana (MGBBY).

About:

• The scheme is providing for social security benefits like life, accidental and disability insurance coverage to handloom weavers/workers in the age group of 51-59 years across the country, who have already enrolled under the scheme on 31.5.2017.
• The annual premium of Rs.470/.

Benefits: 

• To provide the benefits to all handloom weavers/workers in an effective manner, the Government of India has organized Hasthkala Sahyog Shivirs in handloom clusters across the country in association with State Governments and LIC for creating awareness among the weavers for enrollment under the Scheme.
• The claim benefits are provided by LIC directly into the bank account of beneficiaries through Direct Benefit Transfer (DBT).

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