50 cr people have social security cover: PM Narendra Modi

Prime Minister Narendra Modi said on Wednesday that around 50 crore people were under the overall social security cover — a 10-fold increase since he assumed office in 2014.

Interacting with the beneficiaries of various social security schemes through a video conference, he said that over the last three years (2014-17), as many as 28 crore new bank accounts were opened under the Pradhan Mantri Jan Dhan scheme — nearly 55 per cent of the total bank accounts opened in the world.

He said these schemes give people the strength to face challenges in life. He said life insurance is being provided through the Pradhan Mantri Jan Dhan Yojana and accident cover with RuPay card.

In addition, two insurance schemes and one pension scheme have been started. "I am particularly happy that more women have bank accounts. It is important for women to be in the financial mainstream," he said. Modi said there were over one crore subscribers of the assured minimum pension scheme, the Atal Pension Yojana.

He said that about three lakh elderly people have benefited from the Vaya Vandana Yojana started last year.