The Prime Minister Narendra Modi will be launching three mega social security initiatives, one pension and two insurance schemes.

The scheme will be launched in Kolkata, the capital of West Bengal. According to a finance ministry statement there will be simultaneous nation wide launch of the schemes through functions organised at 112 centres in various States and UTs that would be attended by the respective Chief Minister or Governors and the Union Ministers.

“The proposed insurance schemes, PMSBY and PMJJBY will provide much needed access to affordable personal accident and life cover to a vast population, currently not having convenient and systematic access of this nature. It will go a long way in improving insurance awareness and insurance penetration in the country,” it said.