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.
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.