Empowering Women: Bima Sakhi Yojana Launched Nationwide

Why in the news?

The Prime Minister launched Bima Sakhi Yojana to empower women with financial literacy, training, and employment opportunities through Life Insurance Corporation (LIC) in Haryana’s Panipat.

Empowering Women: Bima Sakhi Yojana Launched Nationwide

Overview of Bima Sakhi Yojana

  • Launch: Recently unveiled by the Prime Minister in Panipat, Haryana.
  • Objective: Empower women through financial literacy and employment opportunities.
  • Target Group: Women aged 18-70 with at least a Class 10 qualification.
  • Partnership: A transformative initiative by the Life Insurance Corporation (LIC).

Key Features of the Scheme

  • Training and Stipend: Women undergo specialized training, receiving a stipend over three years.
    • Year 1: 7,000 monthly
    • Year 2: 6,000 monthly
    • Year 3: 5,000 monthly
  • Commissions: Women can earn up to 48,000 in commissions, excluding bonuses.
  • Goal: To train 2 lakh Bima Sakhis within three years.
  • Career Growth: Graduates are eligible to become LIC agents or may even qualify for development officer roles.

Eligibility and Exclusions

  • Eligibility: Women with a minimum Class 10 qualification, aged between 18-70 years.
  • Exclusions: Relatives of LIC employees, existing LIC agents, and retired personnel are excluded from the program.
  • Impact: The initiative aims to foster financial independence and enhance employment opportunities for women across India.

Sources Referred:

PIB, The Hindu, Indian Express, Hindustan Times