⚡ Quick Revision — Insurance, Pension & Financial Inclusion

🗺️ Chapter Map

graph LR
    A[Insurance Pension FI] --> B[Pension]
    A --> C[Insurance]
    A --> D[Financial Inclusion]
    B --> B1[OPS vs NPS vs UPS]
    C --> C1[FDI 100%]
    C --> C2[Insurance Act 2025]
    D --> D1[MUDRA]
    D --> D2[FI Index]

🏛️ OPS vs NPS vs UPS

	OPS	NPS	UPS
Type	Defined benefit	Defined contribution	Assured pension
Amount	50% of last drawn basic	Depends on market returns	50% of avg last 12 months basic
Employee contribution	None	10%	10%
Govt contribution	Full burden	14%	18.5%
Effective	Pre-2004	2004	April 2025

🛡️ Insurance — Key Facts

Fact	Detail
Insurance Amendment Act 2025	FDI raised from 74% → 100%
Insurance Penetration	= Total premiums / GDP
Insurance Density	= Total premiums / Population
IRDAI	Regulator (statutory under IRDA Act, 1999)

💰 Financial Inclusion

Metric/Scheme	Detail
Financial Inclusion Index	By RBI. Scale 0-100. 3 parameters: Access, Usage, Quality. No base year.
PM MUDRA	Launched 2015. Subsidiary of SIDBI. Collateral-free loans to non-farm micro enterprises.
MUDRA Categories	Shishu (≤₹50K), Kishor (₹50K-₹5L), Tarun (₹5L-₹10L), Tarun Plus (₹10L-₹20L)
MUDRA function	Refinancing agency — provides funds to banks/NBFCs/MFIs

Last-Minute Recall Strip: UPS = 50% avg 12 months | Employee 10% | Govt 18.5% | NPS Govt 14% | Insurance FDI 100% | MUDRA = SIDBI subsidiary | Shishu ≤₹50K | Tarun Plus ≤₹20L | FI Index by RBI (Access + Usage + Quality)