Pension, insurance for SHGs, children to get scholarships

The scheme will cover 1.25 crore SHG members

HYDERABAD: ‘Abhaya Hastham’ (hand of re-assurance), a three-in-one programme providing pension and insurance cover for the self-help group members besides scholarships for their children, will be formally launched by Chief Minister Y.S. Rajasekhara Reddy on Friday here. Select representatives of zilla samakhyas, nodal agencies of all the thrift groups in each district, will attend the programme at a function in Acharya N.G. Ranga Agricultural University in Rajendranagar. A select few members, who will be attaining the age of 60 by March this year, will be given pension certificates.

At a Cabinet meeting convened on Thursday, the Chief Minister decided to name the programme ‘Abhaya Hastham’. The programme has three-fold benefits for each member. Every member attaining 60 years is eligible for a minimum monthly pension of Rs. 500. The scheme will cover all the 1.25 crore members of whom at least 60,000 are likely to draw pension from March this year.