• A- A A+

RuPay Insurance program

Important Notice

RuPay Card Scheme is a network set-up to provide secured, robust, scalable, simple, transparent, inclusive, user friendly and affordable solutions to entities to issue cards in India. NPCI introduced a unique feature of insurance for PMJDY Cards and Platinum Premium cards for accidental death or permanent disability only.The Insurance coverage program for both PMJDY & Platinum Cardholders has been extended upto March 31, 2024*. Extension of Insurance program beyond aforesaid period will be communicated by NPCI before the expiry of current period. Following are the details of the said Insurance Program:-

Sailent Terms and Conditions:

  • RuPay Cardholders will be eligible for the compensation of only 1 eligible RuPay card per cardholder or per customer, even if multiple cards of different bank are meeting the eligibility criteria. The choice of the card for the claim would rest with the customer.
  • The below are key details* of insurance cover available:

Debit Card Variant

Applicable Insurance Cover

Eligibility Criteria

Insurance partner with NPCI

PSB RuPay Platinum Debit Card


Minimum one successful RuPay Card induced financial transaction at any PoS/E-com, both Intra and Inter-bank i.e., on-us or off us within 30 days prior to date of accident including accident date of RuPay Cardholder

TATA AIG General Insurance Company Ltd

PSB PMJDY Debit Cards issued till 28-Aug-18


Minimum one successful Financial or Non-Financial Transaction at any channel both Intra and Inter Bank within 90 days prior to date of accident including accident date of RuPay Cardholder

The New India Assurance Company Ltd.

PSB PMJDY Debit Cards issued after 28-Aug-18


(*Subject to change by NPCI)

  • Compensation of Insurance benefit will be made to the eligible bonafide beneficiary, as per the law of the land, on submission of complete documentation set prescribed under Procedure for Claim.


Procedure for Claim

  • Claim for insurance against policy will need to be submitted through the Card Issuing Branch-directly with New India Assurance Company Ltd. or TATA AIG General Insurance Company Ltd, whichever applicable as per claim process enclosed.
  • The enclosed document i.e. Claim process, FAQs, Claim Forms and Policy Wording may be referred in order to communicate the features to channels and RuPay cardholders


Sr. No. Annexure Document Name Remarks
i Claim Process Claim Process PMJDY Card 
Claim Process Platinum Card 
For use of Banks for internal and customer education
ii Frequently Asked Questions (FAQs) Frequently Asked Questions (FAQs) PMJDY Card 
Frequently Asked Questions (FAQs) Platinum Card 
For use of Banks for internal and customer education
iii Claim Form Claim Form PMJDY Card 
Claim Form Platinum Card 
iv Declaration Form Declaration form PMJDY Card 
Declaration form Platinum Card 

“Compare and Shop is a Service provided by Cheggout Services Pvt Ltd for Punjab and Sind Bank customer(s). Punjab & Sind Bank is providing this as a value added service. Punjab and Sind Bank does not guarantee or warranty or make any representation about the usefulness, worthiness and/or character of the product/service and/or discount or benefit.”