Women Empowerment: PM Modi Inaugurated LIC's Bima Sakhi Yojana

Prime Minister Narendra Modi launched Life Insurance Corporation's "Bima Sakhi Yojana" on Monday, with the goal of empowering women via financial literacy and insurance knowledge. During the event, he also laid the groundwork for the main campus of Maharana Pratap Horticultural University, Karnal.

"We are committed to the empowerment of mothers, sisters and daughters across the country. In this series, I will get the opportunity to launch the Bima Sakhi Yojana in Panipat, Haryana, at around 2 pm today. During this time, I will also lay the foundation stone and inaugurate many other projects," posted the Prime Minister on X.

The scheme is targeted at women aged 18 to 70 who are matriculated and want to become volunteer insurance agents. The government plans to appoint 200,000 Bima Sakhis over the next three years, starting with 25,000 appointments this year, Finance Minister Nirmala Sitharaman said at the event.

According to Nirmala Sitharaman, "Each woman insurance agent will receive training and a stipend of Rs. 7,000 per month in the first year, Rs. 6,000 per month for the second year and Rs. 5,000 per month in the third year."

"Once the training is successfully completed, participants will become LIC agents, helping bridge the gap in insurance penetration in rural and semi-urban areas," she added.