Skip to content
Free updates Login
SSCBankingNABARD / RBI

IPPB and Antyodaya Shramik Suraksha Yojana Update

5 May 20251 min read
BANKING & FINANCEIPPB andAntyodayaShramik SurakshaYojana Update5 May 2025safalsetu.com

Why in the news

Marking Labour Day (1 May), India Post Payments Bank stressed its service to unorganised sector workers (Shramiks), spotlighting an insurance scheme it facilitates.

Key facts

  • Antyodaya Shramik Suraksha Yojana (ASSY): low-cost insurance cover for unorganised workers.
  • Launched by Gujarat’s Chief Minister on 8 July 2023 at Kheda, Gujarat.
  • Policies issued so far: 6,97,531; claims settled: 355; payout: ₹5,41,17,754.
  • Insurance partners: New India Assurance, Bajaj Allianz General, TATA AIG General, Niva Bupa Health, Aditya Birla Health and Star Health (listed as Start Health in the note).

About IPPB

  • Aims to reach unbanked and underbanked people at the last mile via the postal network.
  • Network: roughly 1,65,000 post offices (140,000 rural) and 3,00,000 postal employees.
  • Leader: R. Viswesvaran, MD and CEO.

Exam angle

  • Scheme launch venue: Kheda, Gujarat.
  • Labour Day date: 1 May.
  • IPPB MD and CEO: R. Viswesvaran.

Test yourself

1. Where was the Antyodaya Shramik Suraksha Yojana launched on 8 July 2023?

It was launched at Kheda, Gujarat.

2. How many policies had been issued under ASSY, according to IPPB's update?

6,97,531 policies were issued to Shramiks.

3. Who is the MD and CEO of India Post Payments Bank?

R. Viswesvaran leads IPPB.

This topic is part of Daily Current Affairs 4 & 5 May 2025 (21 topics).

All topics of the dayDay quizMay 2025

Read more