BANKING & FINANCE
Insurance
Milestone Achievement: India’s Three Flagship Jan Suraksha Schemes Complete 11 Years
The Central Government's primary social security trio—PMJJBY, PMSBY, and APY—marked 11 years of operation on May 9, 2026.
Launched originally in 2015 from Kolkata, these schemes aimed to provide affordable insurance and pension coverage to the unorganized sector.
As of April 2026, PMSBY leads in terms of reach with over 58 crore enrolments, followed by PMJJBY at 27.4 crore and APY at 9 crore.
Exam Perspective: These schemes form the backbone of financial inclusion in India, with PMJJBY offering life cover and PMSBY providing accidental insurance at minimal premiums.
Launched originally in 2015 from Kolkata, these schemes aimed to provide affordable insurance and pension coverage to the unorganized sector.
As of April 2026, PMSBY leads in terms of reach with over 58 crore enrolments, followed by PMJJBY at 27.4 crore and APY at 9 crore.
Exam Perspective: These schemes form the backbone of financial inclusion in India, with PMJJBY offering life cover and PMSBY providing accidental insurance at minimal premiums.
Key Facts / Static GK
PMJJBY: Pradhan Mantri Jeevan Jyoti Bima Yojana (Life Insurance)
PMSBY: Pradhan Mantri Suraksha Bima Yojana (Accident Insurance)
APY: Atal Pension Yojana (Pension Scheme)
Launch Date: 9 May 2015
Launch Location: Kolkata, West Bengal
Regulator (APY): Pension Fund Regulatory and Development Authority (PFRDA)
PMSBY: Pradhan Mantri Suraksha Bima Yojana (Accident Insurance)
APY: Atal Pension Yojana (Pension Scheme)
Launch Date: 9 May 2015
Launch Location: Kolkata, West Bengal
Regulator (APY): Pension Fund Regulatory and Development Authority (PFRDA)
Practice Quiz — 11 May 2026
Q1. Regarding the Jan Suraksha schemes, which of the following statements is/are correct as of May 2026?
Answer: (B) The Pradhan Mantri Suraksha Bima Yojana (PMSBY) has recorded the highest enrolments among the three. — Statement B is correct as PMSBY has 58.09 crore enrolments. Statement A is incorrect (launched in 2015). Statement C is incorrect (APY entry age is 18-40). Statement D is incorrect (PMJJBY coverage is ₹2 lakh).
Q2. Where will the new GaN-based semiconductor fabrication facility by Crystal Matrix Ltd be located?
Answer: (C) Dholera, Gujarat — Crystal Matrix Ltd will set up its GaN (Gallium Nitride) based semiconductor fabrication facility in Dholera, Gujarat.
Q3. What is the new Fair and Remunerative Price (FRP) for sugarcane approved for the 2026-27 season?
Answer: (D) ₹365 per quintal — The CCEA has approved a new FRP of ₹365 per quintal for the 2026-27 season, up from ₹355.
Q4. Which of the following represents the '5F' vision under the newly launched Mission for Cotton Productivity?
Answer: (A) Farm, Fibre, Factory, Fashion, Foreign — The 5F vision stands for Farm → Fibre → Factory → Fashion → Foreign.
Q5. What is the maximum credit guarantee percentage provided to MSMEs under the ECLGS 5.0 scheme?
Answer: (E) 100% — Under ECLGS 5.0, MSMEs are eligible for a 100% credit guarantee, while non-MSMEs and airlines receive a 90% guarantee.
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