Relevance for Banking, SSC & RBI Grade B exams: Polity & Governance

The Employees’ State Insurance Corporation (ESIC) has extended the **Atal Beemit Vyakti Kalyan Yojana (ABVKY)** for another year, from **1 July 2026 to 30 June 2027**, under the Ministry of Labour and Employment. The scheme provides unemployment relief to insured persons who meet specific eligibility criteria, including a minimum contribution of **78 days in any one contribution period** within the 12 months preceding unemployment. Disqualification applies in cases of misconduct, lockout, voluntary retirement, or fraud under the ESI Act, 1948. To streamline claim settlements, ESIC has introduced online submissions, direct benefit transfers (DBT), and real-time monitoring of claim processing, ensuring timely payments to beneficiaries. Over the last three years (2023-24 to 2025-26), the scheme has supported **4,072 beneficiaries** with disbursements exceeding **₹5.26 crore**, reflecting its growing relevance in India’s social security framework.

For aspirants preparing for **Bank PO, IBPS, SBI, RBI Grade B, and SSC exams**, ABVKY is a critical topic under **Polity & Governance**, often tested in relation to **employment schemes, social security measures, and welfare policies**. Questions may focus on its **eligibility criteria, funding mechanism, or recent extensions**, linking it to broader themes like **unemployment insurance, ESIC’s role, and direct benefit transfers (DBT)**. Understanding such schemes helps candidates analyze **government initiatives for economic stability** and their impact on **financial inclusion**, which is frequently asked in **RBI Grade B’s Economic & Social Issues (ESI) section** and **SSC’s General Awareness papers**. Mastering these details can provide an edge in both descriptive and objective sections of competitive exams.

Source: PIB (Press Information Bureau)

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