LIC Signs MoU with Rural Development Ministry to Promote Bima Sakhi Yojana

Current Context: LIC signed an MoU with the Ministry of Rural Development during the Anubhuti Conclave in Goa, held from July 8–10, 2025.

• The aim is to promote the Bima Sakhi Yojana to empower rural women through LIC agency roles.
• Women from Self-Help Groups (SHGs) will get full agent benefits and monthly stipends: ₹7,000 (Year 1), ₹6,000 (Year 2), ₹5,000 (Year 3).
• The scheme aligns with DAY–NRLM, focusing on financial independence and rural income generation.
• It seeks to improve insurance outreach in underserved regions. This strategic collaboration blends insurance access with livelihood support.

Question:

Q.1 LIC signed an MoU with which ministry to promote the Bima Sakhi Yojana?
a) Ministry of Finance
b) Ministry of Skill Development
c) Ministry of Rural Development
d) Ministry of Women and Child Development

Answer: c) The MoU was signed during the Anubhuti Conclave in Goa (July 8–10, 2025) to implement the Bima Sakhi Yojana in collaboration with the Ministry of Rural Development.