Flagship Schemes of the Ministry of Finance
Last updated: 2026-11-13 · MockMentor
Finance Ministry schemes are the most asked group in bank and RBI exams, because banks deliver most of them. They fall into four families: pensions (NPS, UPS, APY, PMVVY), insurance (PMJJBY, PMSBY), financial inclusion and credit (Jan Dhan, Mudra, Stand-Up India, PSB Loans in 59 Minutes) and savings and investment (gold schemes, small savings, Retail Direct, green bonds). Most are run by the Department of Financial Services (DFS); small savings and sovereign bonds sit with the Department of Economic Affairs (DEA).
Schemes at a glance
| Scheme | Launched | What it does |
|---|---|---|
| National Pension System (NPS) | 2004 (all citizens 2009) | Market-linked, contributory pension |
| Unified Pension Scheme (UPS) | 1 April 2025 | Assured pension option within NPS for Central employees |
| Atal Pension Yojana (APY) | 9 May 2015 | Guaranteed pension of ₹1,000 to ₹5,000 for the unorganised sector |
| PM Vaya Vandana Yojana (PMVVY) | 4 May 2017 (closed March 2023) | Assured pension for senior citizens through LIC |
| PM Jeevan Jyoti Bima Yojana (PMJJBY) | 9 May 2015 | ₹2 lakh life cover for ₹436 a year |
| PM Suraksha Bima Yojana (PMSBY) | 9 May 2015 | ₹2 lakh accident cover for ₹20 a year |
| PM Jan Dhan Yojana (PMJDY) | 28 August 2014 | Zero-balance bank accounts for financial inclusion |
| PM Mudra Yojana (PMMY) | 8 April 2015 | Collateral-free loans up to ₹20 lakh for micro units |
| Stand-Up India | 5 April 2016 | Loans of ₹10 lakh to ₹1 crore for SC/ST and women entrepreneurs |
| PSB Loans in 59 Minutes | September 2018 | Online in-principle loan approval in 59 minutes |
| Gold Monetisation Scheme (GMS) | November 2015 | Earn interest on idle gold deposited with banks |
| Sovereign Gold Bond (SGB) | November 2015 | Government bonds linked to the gold price, 2.5% interest |
| Sukanya Samriddhi Account (SSA) | 22 January 2015 | Tax-free savings account for the girl child |
| Mahila Samman Savings Certificate (MSSC) | 1 April 2023 (closed March 2025) | Two-year 7.5% deposit for women |
| RBI Retail Direct | 12 November 2021 | Direct online access to Government securities for individuals |
| Sovereign Green Bonds | January 2023 | Government bonds that fund green public projects |
Facts students mix up
- PMJJBY is life cover (₹436, age 18 to 50, 30-day lien); PMSBY is accident cover (₹20, age 18 to 70, no lien).
- APY is for non-taxpayers aged 18 to 40; NPS is open to everyone from 18 to 85.
- Stand-Up India is for greenfield units of SC/ST and women (₹10 lakh to ₹1 crore); Mudra covers all micro units up to ₹20 lakh.
- No new Sovereign Gold Bonds are being issued; the Gold Monetisation Scheme continues for short-term deposits.
Complete scheme notes in our courses: these pages give a quick, exam-focused picture. Our Super-Elite and Elite courses carry full scheme chapters with every update merged in, plus fortnightly scheme MCQs. Compare the courses.
Finance Ministry schemes: all pages
- National Pension System (NPS)
- Unified Pension Scheme (UPS)
- Atal Pension Yojana (APY)
- PM Vaya Vandana Yojana (PMVVY)
- PM Jeevan Jyoti Bima Yojana (PMJJBY)
- PM Suraksha Bima Yojana (PMSBY)
- PM Jan Dhan Yojana (PMJDY)
- PM Mudra Yojana (PMMY)
- Stand-Up India
- PSB Loans in 59 Minutes
- Gold Monetisation Scheme (GMS)
- Sovereign Gold Bond (SGB)
- Sukanya Samriddhi Account (SSA)
- Mahila Samman Savings Certificate (MSSC)
- RBI Retail Direct
- Sovereign Green Bonds
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