Telangana SHG Rs.10L Accident Insurance!
Telangana Announces Rs 10 Lakh Accidental Insurance Cover for 64.35 Lakh SHG Members
The Telangana government has announced a new group accidental insurance scheme for the 64.35 lakh members of Self Help Groups (SHGs) in the state. The scheme will provide a coverage of Rs 10 lakh to each SHG member in case of accidental death. This applies to SHG members in both urban and rural areas.
The Panchayat Raj and Rural Development department has released Rs 96.35 crore to the Stree Nidhi Cooperative Federation Limited for implementing the scheme. An additional Rs 50.41 crore will be released in four installments to create a risk fund for women members of SHGs for the first year.
The scheme will cover the loans obtained by SHGs from banks under the SHG linkage program, with a maximum of Rs 2 lakh loan outstanding per member. The Stree Nidhi Cooperative Federation will be responsible for issuing operational guidelines for the scheme.
