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TReDS is an electronic platform for facilitating the financing / discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.

These receivables can be due from corporates and other buyers. The TReDS platform will bring all the participants together for facilitating uploading, accepting, discounting, trading and settlement of the invoices/bills of MSMEs, the release added.

“With the in-principle authorisation provided by RBI to set up TReDS, BSE Tech will now have the capability to provide an option to MSME to manage their working capital more efficiently through the TReDS platform,” said Ashishkumar Chauhan, MD and CEO of BSE.

BSE Technologies works for e-enabling the businesses in financial services sectors and is a provider of IT solutions with a focus on commodities, banking and financial services markets in India. PTI SRS BAL BAL

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) are 2 insurance schemes that are backed by the union government in India, to cover your accidental death and disability benefits. You can avail of both of the insurance schemes from your public or private sector banks or LIC. The amount will be auto-debited from the subscriber’s bank account for hassle-free service.

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Under the PMJJBY, an Indian citizen of 18-50 years can avail of a renewable 1-year term life insurance coverage for death due to any reason of Rs. 2 lakhs. The yearly premium of this scheme is only Rs. 330 per subscriber.

Pradhan Mantri Suraksha Bima Yojana (PMSBY)

Under the PMSBY, an Indian citizen aged between 18-70 years can avail of a renewable 1-year accidental death cum disability insurance coverage. A government document informs, “The scheme provides a cover of Rs. 2 Lakhs for accidental death or total permanent disability and Rs. 1 Lakh in case of permanent partial disability.” The yearly premium is only Rs. 12 per subscriber.

To avail of the Bima Yojana or insurance policy, one must have an operating saving account with a participating bank. The KYC procedure should be completed before availing of the scheme, one must link the Aadhaar card to the bank’s saving account. One can renew the scheme any time of the year. The premium under the schemes is eligible for tax benefits as under section 80C of the Income Tax Act.

How to get the benefit?

To get the benefit, the nominee of the PMJJBY or PMSBY will have to approach the bank where the subscriber opened the scheme with a ‘savings bank account’. In both of the cases, if the subscriber is dead, the nominee will have to show an accurate death certificate. Then the bank or the insurer will provide a claim form and a discharge receipt to the nominee to fill up properly. The nominee will have to submit the filled claim form and the discharge receipt, along with the death certificate. He/she must attach a photocopy (Xerox copy) of the canceled cheque of the nominee’s bank account or the subscriber’s PMJJBY linked bank account. Then the bank will start the procedure of insurance claim. The bank is expected to process it within 30 days to forward the completed claim form to the insurance company.

The union government has incorporated all the insurance-related information on this website – www.jansuraksha.gov.in. Both of these Jan Suraksha Insurance Schemes were launched by the government in 2015. Since then, these 2 have been popular Suraksha schemes among common underprivileged Indians who are involved in the unorganized working sectors. However, you can apply for the schemes regardless of your income.