Money & Banking

KVG Bank bags PFRDA awards

Our Bureau Mangaluru | Updated on May 06, 2021

P Gopi Krishna, chairman, Karnataka Vikas Grameen Bank   -  The Hindu

The bank is playing a pivotal role in implementation of social security schemes, says Chairman

Karnataka Vikas Grameen Bank (KVGB), a regional rural bank headquartered in Dharwad, has bagged five awards (Lead to Leap, APY Makers of Excellence, Game Changers, Leadership Capital and Amazing Achievers) under various campaigns held for enrolment of Atal Pension Yojana (APY) from the Pension Fund Regulatory and Development Authority (PFRDA).

Quoting P Gopi Krishna, Chairman of KVGB, a press statement said that the bank is playing a pivotal role in implementation of social security schemes such as Atal Pension Yojana (APY), Prime Minister Jeevan Jyothi Bima Yojana (PMJJBY), and Prime Minister Suraksha Bima Yojana (PMSBY).

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Financial services at affordable cost

The bank enrolled 78,129 policies under PMJJBY, 94,658 policies under PMSBY, and 68,961 accounts under APY during the financial year 2020-21.

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The bank has enrolled a cumulative of 51,41,524 policies under PMJJBY, 11,89,321 policies under PMSBY, and 2,06,214 accounts under APY since the introduction of these schemes, he said.

The bank has so far settled 3,809 claims (₹76.18 crore) under PMJJBY, and 706 claims (₹13 crore) under PMSBY.

The bank firmly believes that delivery of financial services at an affordable cost to the vast sections of disadvantaged and low-income groups is a national priority, he added.

Published on May 06, 2021

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