Comments
The Dharwad-based Karnataka Vikas Grameen Bank (KVGB) and Life Insurance Corporation (LIC) of India will give ₹50,000 to each village panchayat under the scheme Madhura Gram Yojna for taking up development works.
Speaking at a function organised by Dharwad division of LIC in Dharwad on Wednesday to declare the bank’s 200th ‘Bima’ branch, Ashok Reddy, Chairman of the bank, said that the incentive of ₹50,000 will be payable to the village panchayat for building rooms in the school or panchayat, or setting up a library, or installing solar street lights, or for constructing toilets for the common welfare of the village.
Under this scheme, LIC will contribute ₹35,000 and KVGB ₹15,000.
Reddy said LIC had come out with a scheme to declare a village as ‘Bima’ village where 75 policies were canvassed through the branches of KVGB in a village with a population up to 2,000, and 100 policies in a village with a population of up to 5,000, and 150 policies in villages with a population between 5,001 and 10,000.
The bank has entered into a memorandum of understanding with LIC to increase insurance penetration in rural areas and to provide better deal to customers both in terms of service and premium, he said.
A press release said here that the bank canvassed more than 22,000 policies with a premium of ₹43 crore during 2015-16.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.