Introduction
The Bhima Sakhi Yojana is a significant initiative launched by Prime Minister Narendra Modi on December 9, 2024, in Panipat, Haryana. This scheme, introduced by the Life Insurance Corporation of India (LIC), aims to promote women empowerment by training them as LIC agents, increasing financial literacy, and expanding insurance awareness.
Key Highlights
- Launch Date: December 9, 2024
- Launched By: Prime Minister Narendra Modi
- Implementing Body: Life Insurance Corporation of India (LIC)
- Objective: Economic empowerment of women through financial literacy and employment opportunities
Features of Bhima Sakhi Yojana
- Training and Stipend
- Women will receive training for three years to become LIC agents.
- Stipend during training:
- First year: ₹7,000 per month
- Second year: ₹6,000 per month
- Third year: ₹5,000 per month
- Employment Opportunities
- Trained women can work as LIC agents.
- Graduates can also become Development Officers.
- Insurance Coverage and Financial Inclusion
- Enhances access to affordable insurance products.
- Encourages financial literacy and inclusion, especially at the grassroots level.
- Economic Independence
- Enables women to earn a sustainable income by selling LIC policies.
- Encourages entrepreneurial and self-reliant opportunities.
Eligibility Criteria
- Age Limit: 18 to 70 years
- Educational Qualification: Minimum Class 10th pass
- Higher Opportunities: Graduates can apply for the position of Development Officer
Significance of Bhima Sakhi Yojana
- Financial Inclusion
- Extends banking and insurance services to underserved communities.
- Increases the penetration of insurance services in rural and urban areas.
- Economic Empowerment
- Provides earning opportunities for women through commission-based LIC policies.
- Enhances women’s participation in the financial sector.
- Social Impact
- Encourages women’s workforce participation, especially in rural areas.
- Improves household financial stability.
- National Vision
- Aligns with India’s vision to become a developed nation by 2047.
- Supports the goal of “Insurance for All” by expanding insurance penetration.
Role of LIC in Bhima Sakhi Yojana
- Government-owned organization, established in 1956.
- Holds the largest market share in India’s insurance sector.
- Committed to digital transformation and expanding insurance in rural areas.
- Supports the Insurance for All by 2047 initiative.
Conclusion
The Bhima Sakhi Yojana is a transformative step towards women’s economic independence, financial inclusion, and insurance awareness. By training women as LIC agents, this initiative not only provides employment opportunities but also strengthens India’s insurance sector. With its far-reaching impact, this scheme contributes to the nation’s goal of inclusive economic growth and financial stability.