News India Live, Digital Desk: In July 2023, India Post Payments Bank (IPPB) launched ‘Antyodaya Shramik Suraksha Yojana’ (ASSY). The scheme is specially designed keeping in mind the unorganized sector workers, who are often deprived of financial security and insurance coverage.
Inauguration and purpose of the scheme
The ‘Antyodaya Shramik Suraksha Yojana’ was officially inaugurated by the Chief Minister of Gujarat on 8 July 2023 in Kheda, Gujarat. The main objective of this scheme is to provide cheap and effective insurance options to unorganized sector workers. The IPPB has targeted to secure the livelihood of workers and improve their standard of living through this scheme.
Planning effect and access
So far, about 7 lakh insurance policies have been issued under this scheme, and about 355 claims have been settled, which has a total amount of more than ₹ 5.41 crore. The scheme is providing significant financial assistance to workers in dealing with casual risks. IPPB is running the scheme in collaboration with 6 major insurance companies, including reliable companies such as New India Assurance and Bajaj Allianz.
Commitment to the welfare of IPPB workers
On the occasion of Labor Day, IPPB Managing Director and CEO R Visvesvaran said that the bank is fully committed to the safety of unorganized workers. He described Antyodaya Shramik Suraksha Yojana as an important step towards improving the standard of living of workers.
IPPB is constantly striving to provide financial security, respect and better lifestyle to workers. The expansion of digital banking services and its broad post office network spread in rural areas is also strengthening the dream of ‘Digital India’.
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