Karnataka Vikas Grameena Bank (KVGB) has bagged the national award from Pension Fund regulatory and Development Authority (PFRDA) for significant enrolment under Atal Pension Yojana (APY).
P Gopi Krishna, Chairman of KVGB—who received the award from Supratim Bandopadhyay, Chairman of PFRDA, in New Delhi on Monday—said APY is a safety net for workers in the informal sector for getting pre-defined pension after 60 years.
So far, the bank has enrolled 3,34,687 (cumulative) accounts under APY. During 2022-23, the bank enrolled 69,132 accounts against the target of 50,320.
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Stating that PFRDA has given a target of an average 80 accounts per branch, he said the bank has achieved an average of 110 accounts against the target. This achievement is highest among all other banks in South India, he said.
At present, the bank has 629 branches in the nine districts from Vijayapura to Mangaluru.
He also said that KVGB is playing a pivotal role in implementing all the three social security schemes (PMJJBY, PMSBY and APY) launched by central Government.
He further said the bank’s priority is to ensure access to social security benefits to villagers and people from unorganised sector.