[Solved] What are the new annual premium rates of PMJJBY and PMSBY respectively, with effect from June 1, 2022?
[A] Rs 520 and Rs 40
[B] Rs 436 and Rs 20
[C] Rs 400 and Rs 40
[D] Rs 350 and Rs 30
Correct Answer: B [Rs 436 and Rs 20]
The government raised the premium for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), to make them economically viable.
The premium rate of PMJJBY has been revised upward to Rs 1.25 per day, with an increase from Rs 330 to Rs 436 annually. The annual premium for PMSBY has been hiked from Rs 12 to Rs 20. The new premium rates are effective from June 1, 2022.