NABARD and Online PSB Loans Ltd have signed a MoU to streamline the enrolment and claim settlement processes under the Jan Suraksha Schemes for 43 Regional Rural Banks (RRBs).
The JanSuraksha Portal enables digital enrolment and claim settlements for the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and the Pradhan Mantri Suraksha Bima Yojana (PMSBY). This partnership represents a significant step towards bridging the financial gap in rural areas, empowering RRBs to leverage digital solutions for seamless scheme enrolment and efficient claim settlements.
NABARD will integrate all 43 RRBs onto the JanSuraksha Portal, democratizing access to financial protection schemes in previously inaccessible rural regions. This digital transformation aims to simplify processes, increase transparency, and expedite disbursals to beneficiaries, reinforcing the Government of India’s inclusive growth agenda under the Digital India initiative.
NABARD Chairman Shaji KV remarked that this initiative marks a significant advancement in enhancing digital financial services across rural India. He emphasized NABARD’s commitment to leveraging technology to provide efficient digital solutions to RRBs, fostering financial resilience and promoting inclusive growth.
By connecting the JanSuraksha Portal with the Core Banking Solutions (CBS) of RRBs through APIs, the project aims to ensure a hassle-free experience for both banks and their customers.