The launch took place this afternoon at the Financial Services Commission. This fund aims to help the Hit & Run victims. Those who have had an accident since January 1, 2016 are eligible. Funds are raised through a small increase on annual insurance rates, between 25 and 200 rupees.
On compensation to victims, Rs 25, 000 will be given to those outpatients while Rs. 50,000 for those hospitalized. Victims who have lost an arm will receive Rs. 90,000 while those who have lost two parts of their body will receive Rs. 150,000. An allowance of Rs. 150,000 will be given to temporary disability while Rs. 350, 000 to people who are paralyzed for life.
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For anyone who died during a Hit & Run, relatives will receive Rs. 350, 000.
The Minister of Good Governance, Roshi Bhadain, who was present at the ceremony announced that so far Rs 17 million has already been collected. He said that the compensation will be revised upwards afterwards.
Moreover, Roshi Bhadain also dwelt on the Funeral Grant Scheme. He argues that now it will be regulated by the FSC.