Pradhan Mantri Suraksha Bima Yojana

Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India. It was originally mentioned in the 2015 Budget speech by Finance Minister Arun Jaitley in February 2015. It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata. As of May 2015, only 20% of India’s population has any kind of insurance, this scheme aims to increase the number.


Pradhan Mantri Suraksha Bima Yojana is available to people between 18 and 70 years of age with bank accounts. It has an annual premium of ₹12 (18¢ US) excluding service tax, which is about 14% of the premium. The amount will be automatically debited from the account. In case of accidental death or full disability, the payment to the nominee will be ₹2 lakh (US$3,000) and in case of partial Permanent disability ₹1 lakh (US$1,500). Full disability has been defined as loss of use in both eyes, hands or feet. Partial Permanent disability has been defined as loss of use in one eye, hand or foot.[1][2]

This scheme will be linked to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme. Most of these account had zero balance initially. The government aims to reduce the number of such zero balance accounts by using this and related schemes.


Private banks have complained that the Government should focus on upper middle class instead of the poorer section. Western scholars and Congress have argued that financial inclusion is a myth and serving such large number of people would only increase the burden and work-load of public sector.

Mode of payment of premium

The premium amount will be deducted from the account holder’s savings bank account through ‘auto debit’ facility in one installment for the entire year, as per the option to be given on enrollment. Members may also give one-time mandate for auto-debit every year till the scheme is in force, subject to re-calibration that may be deemed necessary on review of experience of the scheme from year to year

Termination of benefit cover

In following cases the cover will be terminated and no benefit will be payable to the subcribers.

  1. On attaining age 70 years or the age nearest birth day
  2. At the time of renewal in subsequent years,due to insufficiency of balance to keep the insurance in force the account gets closed.
  3. In case a subscriber is covered by more than one account and premium is paid by the subscriber intentionally, insurance cover will be restricted to one only and the premium shall be liable to be forfeited.
  4. If the insurance cover is ceased due to any technical reasons such as insufficient balance on due date or due to any administrative issues, the same can be reinstated on receipt of full annual premium, subject to conditions that are to be issued in future. During this period, the risk cover will be” suspended” and reinstatement of risk cover will be at the sole discretion of Insurance Company.

Pradhan Mantri Suraksha Bima Yojana Participating banks will deduct the premium amount in the same month when the auto debit option is given, preferably in May of every year, and remit the amount due to the Insurance Company in that month itself.

Claim Process

PMSBY claim process is like claiming other insurance from either private or governmental bank. You need to be prepare with each supporting document and must inform bank. Below steps can be summarised as claim process of Pradhan mantri suraksha Yojana.

  1. Need to inform the bank( There are more than 25 banks) regarding accident.
  2. Claim should be submitted to the Bank from which PMSBY has been bought.
  3. Claim Form should be submitted within 30 days after incidence.
  4. Submit claim supporting document like FIR, death certificate, report of post mortem, disability certificate (if any) and the discharge certificate.
  5. After Verification Bank will provide insurance amount to nominee or legal heir.

Shortcut of Number system

Shortcut 77:
Divisibility test
Divisibleby                                    Rule

2                            Last digit of a number should be 0,2,4,6, or 8

3                            Sum of the digit should be divisible by 3

4                            Last two digits of a number should be divisible by 4

5                            Last digit of a number should be 0 or 5

6                             Number should be divisible by 2 and 3

8                             Last three digit of a number shoul be divisible by 8

9                             Sum of the digit should be divisible by 9

10                           Last three digit of a number shoul be 0

11                           Difference between sum of digits in even places shoud be 0 or 11
Which of the following numbers is divisible by both 5 and 9?
1115, 11115, 111115, 1111115
11115 – Its is divisible by 5 and 9

Shortcut 78:
Finding unit digit
Base Value                                            Power Value

Unit Place                                              Unit Place

    0                                                               0

    1                                                               1

    5                                                               5

    6                                                               6
Find the units place in the result of the expression:
240234 + 345344 x 1011009 – 36211
Unit’s place of 240234 = 0
Unit’s place of 345344 = 5
Unit’s place of 1011009 = 1
Unit’s place of 36211 = 6
Units place of the expression
= 0 + 5 x 1 – 6 = 9
(When subtracting 5 from 6 in unit’s place we will borrow 1 for 5, 15 -6 = 9)

Shortcut 79:
Finding unit digit
                        Odd           Even

 4                       4                6

 9                       9                 1
Find the unit’s digit of 3449 and 4934.
3449 = 4 power odd number – 4 in unit’s place
So, unit digit of 3449 = 4
4934 = 9 power even number – 1 in unit’s place
So, unit’s digit of  4934 = 1

Shortcut 80:
Finding unit digit
Find the unit digit of the expression
1211 + 1312 + 1718 + 1817
Unit’s place of 1211 = 8
Unit’s place of 1312 = 1
Unit’s place of 1718 = 9
Unit’s place of 1817 = 8
Sum of unit’s places = 8 + 1 + 9 + 8 = 26
Unit’s digit = 6

Shortcut 81:
Finding remainder
Find the remainder when 212 x 313 x 414 is divided by 5.
Using the above concept we can find the remainder for each term and then we can multiply.
R(212/5) = 2
R(313/5) = 3
R(414/5) = 4
2 x 3 x 4 = 24
The value we got is still greater than 5, so again divide it and find the remainder.
R(24/5) = 4
The remainder of the expression is = 4

Shortcut of Simple and Compound Interest

Shortcut 75:
Simple interest
P = Principle amount invested or borrowed
R = Rate of interest per term
N = Number of terms
Term = duration for which interest is calculated
A man invested Rs. 10000 at 4% per annum simple interest. What is the interest he will get at the end of 3 years?
P = 10000; N = 3; R = 4
Substitute the values in the above equation, we get
SI = 10000 x 3 x 4/100
= 1200

Shortcut 76:
Compound interest
[latex]CI=\frac R{100}P+\frac R{100}[Interest till last term][/latex]
What is the compound interest obtained for Rs. 16000 at 2% per annum for three years?
CI for three years = CI on first year + CI for second year + CI for third year
CI for first year = RP/100 = (3×16000)/100 = 480
CI for second year = (RP/100) + (3/100)480 = 494.4
CI for third year = (RP/100)+(3/100)(489.4+480) = 509.23
Total interest = 480 + 494.4 + 509.2
= 1483.6

Pradhan Mantri Jeevan Bima Yojana

Pradhan Mantri Jeevan Jyoti Bima Yojana is a government-backed Life insurance scheme in India. It was originally mentioned in the 2015 Budget speech by Finance Minister Arun Jaitley in February 2015. It was formally launched by Prime Minister Narendra Modi on 9 May in Kolkata. As of May 2015, only 20% of India’s population has any kind of insurance, this scheme aims to increase the number.

Pradhan Mantri Jeevan Bima Yojana Overview

Pradhan Mantri Jeevan Jyoti Bima Yojana is available to people between 18 and 50 years of age with bank accounts. It has an annual premium of ₹330 (US$4.90) excluding service tax, which is above 14% of the premium. The amount will be automatically debited from the account. In case of death due to any cause, the payment to the nominee will be ₹2 lakh(US$3,000).

This scheme will be linked to the bank accounts opened under the Pradhan Mantri Jan Dhan Yojana scheme. Most of these account had zero balance initially. The government aims to reduce the number of such zero balance accounts by using this and related schemes.

Pradhan Mantri Jeevan Bima Yojana Criticism

The banks have complained that revenue received will be very low. Some bankers have claimed that amount they are receiving is not sufficient to cover the service costs. Since this is a group insurance scheme, banks have not received instruction regarding cases where excessive claims are in a year. Insurers have also pointed out that no health certificate or information of pre-existing disease is required for joining.

Digital India Programme

Right from the day of assuming power, Digital India and Make in India have been two big USPs of Prime Minister Narendra Modi. The first steps were taken with the launch portal. Only a couple of weeks ago, Narendra Modi launched his mobile app to connect further with the netizens. Over the last one year, several initiatives have been taken for introduction of Information Technology to empower people in areas relating to health, education, labour and employment, commerce etc.  Digital India Week has  been launched with an aim to impart knowledge to people and  to empower themselves  through the Digital India Programme of Government of India.

The programme structure

Digital India comprises of various initiatives under the single programme each targeted to prepare India for becoming a knowledge economy and for bringing good governance to citizens through synchronized and co-ordinated engagement of the entire Government.

This programme has been envisaged and coordinated by the Department of Electronics and Information Technology (DeitY) in collaboration with various Central Ministries/Departments and State Governments. The Prime Minister as the Chairman of Monitoring Committee on Digital India, activities under the Digital India initiative is being carefully monitored. All the existing and ongoing e-Governance initiatives have been revamped to align them with the principles of Digital India.

Vision of Digital India

The vision of Digital India programme aims at inclusive growth in areas of electronic services, products, manufacturing and job opportunities etc. It is centred on three key areas –

  • Digital Infrastructure as a Utility to Every Citizen
  • Governance & Services on Demand and
  • Digital Empowerment of Citizens

With the above vision, the Digital India programme aims to provide Broadband Highways, Universal Access to Mobile Connectivity,  Public Internet Access Programme,  E-Governance: Reforming Government through Technology, eKranti – Electronic Delivery of Services, Information for All, Electronics Manufacturing: Target Net Zero Imports,  IT for Jobs  and Early Harvest Programmes.

Key Projects of Digital India programme

Several projects/products have already launched or ready to be launched as indicated below:

  1. Digital Locker System aims to minimize the usage of physical documents and enable sharing of e-documents across agencies. The sharing of the e-documents will be done through registered repositories thereby ensuring the authenticity of the documents online.
  2. has been implemented as a platform for citizen engagement in governance, through a “Discuss”, “Do” and “Disseminate” approach. The mobile App for MyGov would bring these features to users on a mobile phone.
  3. Swachh Bharat Mission (SBM) Mobile app would be used by people and Government organizations for achieving the goals of Swachh Bharat Mission.
  4. eSign framework would allow citizens to digitally sign a document online using Aadhaar authentication.
  5. The Online Registration System (ORS) under the eHospital application has been introduced. This application provides important services such as online registration, payment of fees and appointment, online diagnostic reports, enquiring availability of blood online etc.
  6. National Scholarships Portal is a one stop solution for end to end scholarship process right from submission of student application, verification, sanction and disbursal to end beneficiary for all the scholarships provided by the Government of India.
  7. DeitY has undertaken an initiative namely Digitize India Platform (DIP) for large scale digitization of records in the country that would facilitate efficient delivery of services to the citizens.
  8. The Government of India has undertaken an initiative namely Bharat Net, a high speed digital highway to connect all 2.5 lakh Gram Panchayats of country. This would be the world’s largest rural broadband connectivity project using optical fibre.
  9. BSNL has introduced Next Generation Network (NGN), to replace 30 year old exchanges, which is an IP based technology to manage all types of services like voice, data, multimedia/ video and other types of packet switched communication services.
  10. BSNL has undertaken large scale deployment of Wi-Fi hotspots throughout the country. The user can latch on the BSNL Wi-Fi network through their mobile devices.
  11. To deliver citizen services electronically and improve the way citizens and authorities transact with each other, it is imperative to have ubiquitous connectivity. The government also realises this need as reflected by including ‘broadband highways’ as one of the pillars of Digital India.  While connectivity is one criterion, enabling and providing technologies to facilitate delivery of services to citizens forms the other.

Policy initiatives

Policy initiatives have also been undertaken (by DeitY) in the e- Governance domain like e-Kranti Framework, Policy on Adoption of Open Source Software for Government of India, Framework for Adoption of Open Source Software in e-Governance Systems, Policy on Open Application Programming Interfaces (APIs) for Government of India, E-mail Policy of Government of India, Policy on Use of IT Resources of Government of India, Policy on Collaborative Application Development by Opening the Source Code of Government Applications, Application Development & Re-Engineering Guidelines for Cloud Ready Applications

  1. BPO Policy has been approved to create BPO centres in different North Eastern states and also in smaller / mofussil towns of other states.
  2. Electronics Development Fund (EDF) Policy aims to promote Innovation, R&D, and Product Development and to create a resource pool of IP within the country to create a self-sustaining eco-system of Venture Funds.
  3. National Centre for Flexible Electronics (NCFlexE) is an initiative of Government of India to promote research and innovation in the emerging area of Flexible Electronics.
  4. Centre of Excellence on Internet on Things (IoT) is a joint initiative of Department of Electronics & Information Technology (DeitY), ERNET and NASSCOM.


The estimated impact of Digital India by 2019 would be cross cutting, ranging from broadband connectivity in all Panchayats, Wi-fi in schools and universities and Public Wi-Fihotspots. The programme will generate huge number of IT, Telecom and Electronics jobs, both directly and indirectly. Success of this programme will make India Digitally empowered and the leader in usage of IT in delivery of services related to various domains such as health, education, agriculture, banking, etc.

Shortcut of Pipes and Cisterns

Shortcut 73:
One pipe fills and another empties
Pipe A can fill a tank in 4 hours and pipe B can empty the tank in 5 hours. If both pipes are opened together, how long will they take to fill a complete tank?
A = 4
B = 5
Substitute the values in the above equation, we get
Time taken to fill the tank = (4 x 5)/(-4 + 5)
= 20 hours

Shortcut 74:”
Two pipes fill and one empties the tank
Pipes A and B can fill a tank in 10 hours and 12 hours respectively. Pipe C can empty a tank in 20 hours. If all the pipes are opened together, how long will they take to fill a complete tank?
A = 10
B = 12
C = 20
Substitute the values in the above equation, we get
Time taken to fill the tank
= (10 x 12 x 20 )/[(-10 x 12) + (12 x 20) + (10 x 20)]
= 7. 5 hours
= 7 hours 30 minutes

Shortcut of Time and work-3

Shortcut 68:
Three men working together
[latex] \frac{ABC}{AB+BC+AC}[/latex]
A can do a work in 40 days, B in 50 days and C in 60 days. If they work together, how long will they take to complete the work?
A = 40
B = 50
C = 60
Substitute the values in the above formula, we get
Time taken together = (40 x 50 x 60)/(40 + 50 + 60)
= 16.21 days

Shortcut 69:
Work done
Work Done=per day work*number of days
A can do a piece of work in 40 days. What is the fraction of work done by him in 25 days?
Per day work of A = 1/40
Number of days for which A worked = 25
Work done = (1/40) x 25
= 5/8

Shortcut 70:
Remaining work
[latex]Remaining work=1-work done [/latex]
A can do a work in 30 days, B in 40 days. A works for 9 days and the remaining work is done by B. What is the total number of days to complete the work?
Time taken to complete the work
= Remaining work x time to finish full work
Remaining work for B = 1 – Work done by A
Work done by A = (1/30) x 9 = 3/10
Remaining work for B = 1 – 3/10 = 7/10
Time taken by B to complete the remaining work
= 7/10 x 40
= 28 days
Total time taken = 28 + 9 = 37 days

Shortcut 71:
Salary ratio of two men working together
[latex]S_A:S_B=B:A [/latex]
A can do a work in 20 days and B can do the same work in 40 days. They both work together and get a combined salary of Rs. 3000. What is the salary of A?
SA = Salary of A
SB = Salary of B
A = 20; B = 40
SA : SB = 40 : 20 = 2 : 1
SA = [2/(2+1)] x 3000
= 2000
Salary of A = Rs. 2000

Shortcut 72:
Salary ratio of three men working together
[latex]S_A:S_B:S_c=\frac1A:\frac1B:\frac1C [/latex]
A can do a work in 30 days B in 40 days and C in 50 days. If they all work together, what will the ratio between their salaries?
A = 30
B = 40
C = 50
SA : SB : SC = (1/30) : (1/40) : (1/50)
The ratio between their salary = 20 : 15 : 12

Deen Dayal Upadhyaya Gram Jyoti Yojana

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved the launch of Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) with components

> to separate agriculture and non agriculture feeders facilitating judicious rostering of supply to agricultural and non-agricultural consumers in rural areas and 

> strengthening and augmentation of sub transmission and distribution infrastructure in rural areas, including metering of distribution transformers/feeders/consumers.

The estimated cost of the scheme for above two components is Rs.43,033 crore which includes the requirement of budgetary support of Rs.33,453 crore from Government of India over the entire implementation period.

The Cabinet further approved, that the balance work relating to rural electrification as per CCEA’s approval in August, 2013 with the norms of the ongoing scheme of RGGVY in 12th and 13th Plans will get subsumed in DDUGJY as a distinct component for rural electrification, for which CCEA has already approved the scheme cost of Rs.39,275 crore including budgetary support of Rs.35,447 crore. This outlay will be carried forward to the new scheme of DDUGJY in addition to the outlay of Rs.43,033 crore.

The scheme would help in:

> Improvement in hours of power supply in rural areas,

> Reduction in peak load, 

> Improvement in billed energy based on metered consumption and 

> Providing access to electricity to rural households.

The process of sanction of projects shall commence immediately. After sanction of projects, contracts for execution of projects will be awarded by States Discoms / Power Departments. The projects shall be completed within 24 months from date of award.

Atal Pension Yojana (APY)

Introduction to Pradhan Mantri Atal Pension Yojana (APY):

The agenda of NDA Government was to provide Social security, Financial stability to the citizen of India in the Poverty line stream. Our current PM is being very optimistic and moving forward in all possible ways and means to improve the Indian economy and the stand of living of the citizens in India. In such a stram the aspects such as PMJJBY, PMJDY plus the ATY which were a going to study are the factors introduced by the NDA Government.

AIM of the scheme:

The scheme endeavours to provide benefit of pension, which is given after retirement where one needs to have a say as a result. The targeted sector of individuals are the unorganized sector of workers.

Eligibility Criteria:

All the Indians are eligible whose age is between 18 – 40 years. Before availing the benefits of APY, the individuals need at least 20 years of contribution. This scheme provides any account holders of bank who is not an active member of any legislative social security. Individuals Schemed previously under ‘Swavalamban Scheme’ are directed automatically to APY.

Authorization authorities:

The Pension Fund Regulatory & Development Authority administers the scheme of APY or even the Government administers the policy.

Contribution process :

  • Swavlamban Policy Aggregator
  • All service providers – Banks

The advantages involved in Atal Pension Yojana:

  • Ageing individuals are given a security under this scheme, so as to create an awareness & secirity on traditional saving methods. And to basically help the ones under the lower class and lower middle class level.
  • A share of 50% is contributed which is of the users contribution. Or in other terms INR of 1,000 per year for tenure of 5 years is studied.
  • This applicable only to the users who join this scheme on or before 31st December 2015. The share, at any time is enjoyed by the ones who belong to the category where they do not pay income tax.
  • No Taxation deduction availed on the contribution amount t APY.
  • For the higher and lower amount of pension can change the monthly share of contribution.
  • The pension rages between Rs.1000/- to Rs.5000/-, which is based on the contribution based.

Process/Procedure involved to make use of the scheme:

The scheme APY plays a vital role in supporting, so as to pay pension to the poor or poor middle class. Lets gain knowledge on how to enrol with the scheme –

  • The account holder needs to fill in the form of authorization and has to be handed over to the particular bank of the account holder. The form requires filling of entire details such as Nominee and spouse information, account number along with the approval of auto debit of amount of contribution money.
  • Sufficient amount needs to be maintained every month, if proper funds are failed to maintain penalty is implied

Penalty ranges made as such, which is as follows-

  •  INR 10 for monthly share further than INR 1,001
  • INR 5 for monthly share targeting INR 501 & INR 1,000
  • INR 2 for monthly share ranging INR 101 & INR 500
  •  INR 1 for monthly share upto INR 100

Limitations on the account:

> If payments are not made for 6months, account is frozen

> No payment made till 12 months, account is deactivated

> Payment inactive for 24 months, account is closed

Formalities to exit from the policy:

In the general terms, an individual active in the scheme of APY cannot exodus until the individual attains the age of 60 years. Only special situations the account can be exited like in case of death of the account holder.

Opportunities or factors involved for non-account holders:

It is a mandatory factor for an individual to open an account by handing in Aadhar card along with KYP documentation. One need fill in the complete application of APY form of proposal.

Shortcut of Time and work-2

Shortcut 65:
Time, Work and Resource
[latex]\frac{W_1}{W_2}=\frac{R_1T_1}{R_2T_2} [/latex]
If 10 men can cut 40 trees in 4 days, how many trees can be cut by 40 men 6 days?
R1 = 10; R2 = 40
T1 = 4; T2 = 6
W1 = 40; W2 = ?
Substitute the values in the above formula, we get
40/W2 = (10 x 4)/(40 x 6)
W2 = 240 trees

Shortcut 66:
Work, Resource, Days and Hours
[latex]\frac{W_1}{W_2}=\frac{R_1T_1:H_1}{R_2T_2:H_2} [/latex]
30 men working 6 hours day for 50 days can make 2000 toys. How many hours per day should 40 men work for 60 days to make 3000 toys?
R1 = 30; R2 = 40, (Resources in each case)
T1 = 50; T2 = 60, (Days in each case)
W1 = 2000; W2 = 3000, (Work in each case)
H1 = 6; H2 = ?, (Hours per day in each case)
Substitute the values in the above formula, we get
2000/3000 = (30 x 50 x 6)/(40 x 60 x H2)
H2 = 5(5/8) hours
H2 = 5 hours 32 minutes 30 seconds

Shortcut 67:
Two men working together
[latex]\frac{AB}{A+B} [/latex]
A can complete a work in 40 days. B can complete the same work in 60 days. How long will they take to complete the work if they are working together?
A = 40
B = 60
Substitute the values in the above formula, we get
Time taken together = (40 x 60)/(40 + 60)
= 24 days