Govt mulls revision of policy cover under insurance schemes - Banking secy
This story was originally published at 16:59 IST on 7 May 2026
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--Banking secy: May revise some benefits in PM jeevan jyoti insurance scheme
--CONTEXT: Banking Secy Nagaraju at a press meet post IBA Summit
--Banking secy: Likely to revise PM jan suraksha insurance cover amount
--Banking secy: Most sectors, barring few, impacted by West Asia crisis
--Banking secy:MSME, airlines' new credit line based on likely NPA, past need
--Banking secy: Special mention accts 0, 1 eligible for new credit line
MUMBAI – The government is likely to revise certain benefits under the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Pradhan Mantri Suraksha Bima Yojana, Department of Financial Services Secretary M. Nagaraju said at a press meeting after a summit of the Indian Banks' Association. He added that the government was planning to revise the insurance cover amount in the Pradhan Mantri Suraksha Bima Yojana.
At the same press meeting, the secretary said special mention account 0 and special mention account 1 were eligible for a new credit line under the Emergency Credit Line Guarantee Scheme 5.0. The Union Cabinet Tuesday approved the new credit line scheme for Indian businesses amid uncertainties related to the West Asia war.
The secretary said the credit line for micro, small and medium enterprises and airlines would be decided according to their non-performing assets and past experience by the bank. He said most sectors, leaving a few such as education, were least impacted by the West Asia crisis. "We have seen some of the firms are not able to recover. They require longer time to repay. So, on the airline sector, we have given seven years," Nagaraju said.
On the sidelines of the press conference, Manoj Muttathil Ayyappan, joint secretary in the Department of Financial Services, said the guidelines and details about eligibility for the Emergency Credit Line Guarantee Scheme 5.0 would be released by Friday.
Under the new credit line scheme, additional credit of up to 20% of peak working capital utilised during Jan-Mar up to INR 1 billion will be given as support. For airlines, up to 100% of working capital, capped at INR 15 billion per borrower, will be given, subject to satisfying certain specific conditions. End
Reported by Kabir Sharma and J. Navya Sruthi
Edited by Avishek Dutta
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