Telangana Govt to provide group accidental insurance of Rs 10 lakh for SHG members

Telangana government approved a group accidental insurance scheme for 64.35 lakh members of SHGs. Orders have been issued to implement the scheme with effect from Thursday

Hyderabad: The State government approved a group accidental insurance scheme for 64.35 lakh members of Self Help Groups (SHGs), providing a coverage of Rs 10 lakh to each SHG member in both urban and rural areas in case of accidental death. Orders have been issued to implement the scheme with effect from Thursday.

Accordingly, the Panchayat Raj and Rural Development department released Rs 96.35 crore to the Stree Nidhi Cooperative Federation Limited for effective implementation of the scheme.

---

Further approvals were also issued to release Rs 50.41 crore in four installments for creating a risk fund for women members of SHGs for the first year. Under the scheme, the State government will extend risk coverage against the loans obtained by SHGs from the banks under SHG linkage programme and a maximum of Rs 2 lakh loan outstanding per member, will be covered as on date of death of the member. The Stree Nidhi Cooperative Federation has been instructed to prepare and issue operational guidelines for implementation of the scheme.