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Karnataka Bank Ltd has entered into a memorandum of understanding with New India Assurance Co Ltd to introduce Pradhan Mantri Suraksha Bima Yojna to its customers.
Under the scheme, the accident cover of ₹2 lakh is available for a nominal premium of ₹12 to all the savings account holders aged between 18 and 70 years.
A press release by the bank said here on Thursday that it proposes to cover about 5.80 million customers through its existing 678 branches across India under the new initiative.
P Jayarama Bhat, MD and CEO, said that the bank is happy to provide the much sought after financial security to all its eligible customers at an affordable cost.
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