The total enrolments under the government’s flagship insurance scheme, Pradhan Mantri Suraksha Bima Yojana (PMSBY), soared to 51.06 crore in April 2025, reflecting an impressive 443% increase over the past 10 years, according to a statement by the finance ministry on May 9.
Official data shows that back in March 2016, the scheme had 9.40 crore enrolments. The ministry celebrated this achievement in a post on X (formerly Twitter), emphasizing the growing impact of PMSBY among India’s unorganised and low-income population.
“PM Suraksha Bima Yojana! Cumulative enrolments under PMSBY have surged by 443%, from 9.40 crore in March 2016 to 51.06 crore in April 2025. Affordable security at just Rs 20 per year,” the ministry highlighted in its announcement.
Also check: first4roofing | first4driveways
Launched in May 2015, the PMSBY offers an accidental insurance cover of Rs 2 lakh for individuals aged 18 to 70 who hold a savings bank account. The scheme is implemented through banks and insurance providers, working closely with the finance ministry to extend affordable insurance coverage to the masses.