For central government insurance schemes, some banks withdraw money from
customers' accounts without their permission; After that there are
allegations of obtaining fake approval.
 |
| Insurance schemes |
The list of insurance schemes includes the 'Pradham Mantri Jeevan Jyoti Bhima Yojana' and the accident insurance scheme 'Pradham Mantri Suraksha Bhima Yojana'. Similar complaints have been raised against the central government's pension scheme 'Atal Pension'.
All these schemes were launched by Prime Minister Narendra Modi in May 2015 to provide financial security to the poor. The premium for these plans is very low. In Pradham Mantri Jeevan Jyoti Bhima Yojana, the annual premium is Rs 436.
The premium in Pradham Mantri Suraksha Bhima Yojana is just Rs 20. As per Jeevan Jyoti Scheme, Rs 2 lakh is paid to the nominee in case of death of policyholder due to any reason.
In case of death due to accident, under Suraksha Bhima scheme Rs 2 lakh and serious injury cover of Rs 1 lakh is provided. In terms of Atal Pension Scheme, monthly pension of up to Rs 5,000 is provided after the age of 60 according to the amount paid by the policyholders.
Bank employees have used fake data to enroll people in insurance plans without the consent of the policyholder or account holder.
Also, it is said that the bank employees have done this because the government is pressuring them to include more customers in these schemes.
From the head office of the banks to the regional and zonal offices, there have been complaints of this malpractice.