Daijiworld Media Network - Beltangady
Beltangady, Oct 29: Defence minister Nirmala Sitharaman launched ‘Pragathi Raksha Kavach’ a group insurance scheme for self-help groups (SHG) in Karnataka at Dharmasthala on Monday, October 29.
Under this unique scheme, Sri Kshetra Dharmasthala Rural Development Project (SKDRDP) pays premium to the insurance company in advance and the SHG member pays premium while borrowing loan. The collection of premium and claims are both monitored by SKDRDP, making it a first of its kind scheme in SHG sector.
Sitharaman who lauded Dharmadhikari Dr D Veerendra Heggade for his progressive schemes and welfare of rural woman, noted that social work does not end with giving money. Teaching people how to utilize money is equally important, she stressed.
With this scheme, the loanees are made accountable for the money availed. Unlike other agencies which pressurise people to repay loans, not bothering about their financial conditions, SKDRDP’s group insurance scheme looks more into people’s welfare. The insurance scheme which benefits 40 lakh people ensures that the healthcare expenses of the borrower in case he/she falls sick is taken care of. Not only that, in case of sudden demise, the loan borrower’s family are not burdened with the loan as the insurance covers the same.
Dharmadhikari D Veerendra Heggade pointed out that the insurance scheme aims to make loans an investment and not a burden.
Life Insurance Corporation chairman V K Sharma spoke on the benefits for the self-help groups by availing this unique scheme. LIC serves over 24 crore people in the country. The company clears the claims within 10 days through direct beneficiary transfer, he said.
Nirmala Sitharaman was felicitated by Dr D Veerendra Heggade on the occasion.
Sitharaman also visited the Dharmasthala temple and offered prayers to Lord Manjunatha. She said she feels spiritual energy whenever she visits the temple and assured to deliver the prasadam she received at Sri Kshetra Dharmasthala to Prime Minister Narendra Modi.
Hemavathi V Heggade, M P Nalin Kumar Kateel, Belthangady MLA Harish Poonja, Sullia MLA S Angara, Kaup MLA Lalaji R Mendon, Puttur MLA Sanjiv Mathandur and SKDRDP executive director Dr L H Manjunath were present among others.