Weeks after the State government chose India Post for implementing its flagship Bhagyalakshmi scheme, Life Insurance Corporation (LIC) officials called on Chief Minister B.S. Yediyurappa on Tuesday and urged him to consider implementing it through the LIC again.
The Chief Minister told the officials to discuss the issue with Finance Department officials and work out the “best plan” they could offer to girl children belonging to families falling below the poverty line.
The revised scheme envisages financial assistance to a maximum of two girl children born in a BPL family by issuing an insurance bond whose maturity value will be given to the girl at the age of 21. The girl child will get ₹1.27 lakh, and the amount may be used for pursuing education.
Though the government had been implementing the scheme through the LIC since its launch in 2006-07, of late the LIC had reportedly expressed its unwillingness to implement the scheme because of the reduced rate of interest. The LIC had asked the government to deposit the difference in amount. Thus, the Cabinet decided to implement it through India Post, said an official release.
