PM Modi launches LIC's 'Bima Sakhi Yojana' to empower women agents

Prime Minister Narendra Modi on Monday launched the 'Bima Sakhi Yojana' of LIC here under which 2 lakh woman insurance agents will be appointed over the next three years.

'Bima Sakhi Yojana', an initiative of state-owned LIC, is designed to empower women aged 18-70 years who are Class X pass.

They will receive specialised training and a stipend for the first three years to promote financial literacy and insurance awareness.

Under the scheme, the woman agents will also get a stipend of Rs 7,000 per month for the first year, Rs 6,000 per month in the second year and Rs 5,000 per month in the third year. Bima Sakhis will also get the benefit of commission.

The plan is to appoint 2 lakh Bima Sakhi over three years.

Speaking about the scheme launched by Prime Minister Narendra Modi here, LIC MD and CEO Siddharth Mohanty said the insurer will spend up to Rs 840 crore towards stipend in the enrolment done.

 

"Bima Sakhi is expected to garner new business of five times of our spending. So we are hoping that they can bring Rs 4,000 crore new business in the first year," he said. 

Mohanty said that Bima Sakhi will help in taking LIC to under-penetrated areas. Going forward, there is a plan of appointing one Bima Sakhi in every Gram Panchayat.

 

He exudes confidence in retaining market share despite regulatory changes.

After training, they can serve as LIC agents and the graduate Bima Sakhis would have the opportunity to qualify for being considered for Development Officer roles in LIC. Prime Minister will also distribute appointment certificates to prospective Bima Sakhis.

The Prime Minister also laid the foundation stone of the main campus of Maharana Pratap Horticultural University, Karnal.

The main campus and six regional research stations, spread over 495 acres, will be established at a cost of over Rs 700 crore.

The University will have one college of horticulture for graduate and post-graduate studies and five schools covering 10 horticulture disciplines. It will work towards crop diversification and world-class research for the development of horticulture technologies.