Skill India provides Insurance Cover to PMKVY Certified Candidates

Coimbatore: With an emphasis to make vocational training aspirational and galvanize youth to join skill development programs, Skill India has introduced two new benefits for the certified candidates under Pradhan Mantri Kaushal Vikas Yojana (PMKVY 2016-20). These include Kaushal Bima (a Personal Accident Insurance Cover)and DigiLocker facility.

Coimbatore: With an emphasis to make vocational training aspirational and galvanize youth to join skill development programs, Skill India has introduced two new benefits for the certified candidates under Pradhan Mantri Kaushal Vikas Yojana (PMKVY 2016-20). These include Kaushal Bima (a Personal Accident Insurance Cover)and DigiLocker facility

PMKVY, the flagship scheme of the Ministry of Skill Development & Entrepreneurship, Government of India, is implemented by National Skill Development Corporation (NSDC). The insurance premium will be borne by NSDC. 

NSDC has now collaborated with New India Assurance Co. Ltd. (NIA) to provide ‘Kaushal Bima’ insurance facility to the certified candidates under the scheme. As per the current regulations of IRDA, 3-year Personal Accidental Insurance covering death and permanent disability for a sum insured of RS. 2 lacs will be provided through the scheme with a validity of three years from the date of certification. 

Commenting on the benefits, Rajesh Agrawal, Joint Secretary and CVO, Ministry of Skill Development & Entrepreneurship, said, “PMKVY (2016-2020) aims to provide quality training to build skilled and job-ready workforce catering to the evolving demands of the industry. PMKVY offers an array of features to benefit the recipient, making it an effective and friendly skill development scheme."

Manish Kumar, MD & CEO, National Skill Development Corporation said, “It is our endeavour to provide a secured future to all the candidates trained under PMKVY. This would enhance their productivity and help them contribute further to the building of the nation.”

Various Benefits Under PMKVY

PMKVY lays critical importance on ensuring that trained candidates are placed through linkages with industry and employers. The existing benefits of the scheme ensure that skilling is fostered for inclusive growth and works in conjunction with various other government initiatives and flagship schemes like Make in India, Digital India and Pradhan Mantri Mudra Loans. 

It entitles a pay-out of Rs.500/- to certified candidate under various programs - Short Term training, Recognition of Prior Learning (RPL) and Special Project. A reward-based training, PMKVY extends Skill India Certification, Boarding & Lodging, Conveyance Support, Post Placement support among key benefits. The training also emphasizes digital and numerical literacy and soft skills.

About National Skill Development Corporation (NSDC) 

 

National Skill Development Corporation (NSDC) is one of its kind public-private-partnership organisation to facilitate skill training in partnership with private training providers. Till date, NSDC has approved 350+ training providers and 38 Sector Skill Councils, with a geographical spread of 7,000+ training centres in 600+ districts across the country. 

NSDC has trained more than 1.4 crore people across sectors. The Ministry of Skill Development and Entrepreneurship (MSDE) launched Pradhan Mantri Kaushal Vikas Yojana (PMKVY) in the year 2015. This Scheme was further extended in the year 2016.

The objective of this Skill Certification Scheme was to enable a large number of Indian youth to take up industry-relevant skill training that will help them in securing a better livelihood. 

A component for assessment and certification of individuals with prior learning experience or skills was also introduced under the Recognition of Prior Learning (RPL) component of the Scheme. So far, more than 6 lakh individuals have been RPL certified under PMKVY Scheme.

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