Consider the following statements : I . The Andhra Pradesh government has tied up with Life Insurance Corporation ( LIC ) of India for the ‘ Nethanna Beema ’ scheme . II . The scheme will provide Rs 5 lakh insurance cover to the families of weavers in case of the unfortunate demise of an eligible beneficiary . III . Under the Scheme the annual premium amount of the beneficiaries will be paid by the government . Which of the statement / statements is / are incorrect?

Solution

The Telangana government has tied up with Life Insurance Corporation ( LIC ) of India for the ‘ Nethanna Beema ’ scheme to provide economic assurance to handloom and power loom weaver families . The scheme will provide Rs 5 lakh insurance cover to the families of weavers in case of the unfortunate demise of an eligible beneficiary . The state department of handlooms and textiles is the nodal agency for its implementation . The scheme is implemented by the LIC, while the annual premium amount of the beneficiaries will be paid by the government on their behalf to the insurance company . About Telangana Founded : 2 June 2014 Capital : Hyderabad Governor : Tamilisai Soundararajan Chief Minister : K . Chandrashekar Rao About LIC Founded : 1 September 1956 Headquarters : Mumbai Chairperson : M R Kumar