Comments
Kerala Gramin Bank has signed agreements with major public sector insurance companies to provide life and accident insurance covers to savings account holders.
Shaji KV, Chairman, said here that the bank has entered into memorandum of understanding with Life Insurance Corporation of India and United India Insurance Company for these purposes.
Separate covers Life and accident insurance covers will be provided to savings account holders under the ‘Pradhan Mantri Jeevan Jyoti Bima Yojna’ and Pradhan Mantri Suraksha Bima Yojna.
The two yojnas form part of the Pradhan Mantri Jan-Dhan Yojna announced by the Centre.
As per the scheme for life insurance, under tie up with LIC, customers of the age group of 18 to 50 holding savings bank accounts with the bank will be provided with a life insurance cover of ₹2 lakh on an annual premium amount of ₹330, Shaji said.
Under the scheme for accident insurance, customers of age group of 18 to 70 shall be offered an accident insurance up to ₹2 lakh on a nominal premium of ₹12 a year.
Only RRB Kerala Gramin Bank is a regional rural bank (RRB) formed in July 2013 by amalgamating the two existing RRBs, namely South Malabar Gramin Bank and North Malabar Gramin Bank, through a notification by the Centre.
The head office of is at Malappuram and the sponsor bank is Canara Bank. Kerala Gramin Bank is arguably the largest RRB in the country with a total business of above ₹20,000 crore. It has presence in all 14 districts of the state and is now the only RRB in the state.
With a spread of 565 branches and a clientele base of about 60 lakh, Kerala Gramin Bank is taking special initiative to reach the benefits of these schemes to the nook and corner of the state, Shaji said.
The bank shall conduct awareness camps at the panchayat/block levels involving peoples’ representatives to popularise these social security schemes among the needy.
Forms in Malayalam Further, application forms for enrolment will be provided in local language. In addition to the 565 branches of the banks, various Akshaya e-kiosks in the state shall also make available the forms for enrolment.
The bank has taken a lead role in the state under the Jan-Dhan Yojna by enrolling more than 2.5 lakh persons and empowering them with Aadhar-linked accounts and Rupay debit cards, Shaji said.
It will shortly launch a pension scheme for the poor people under the Atal Pension Yojana of the Government of India in which a guaranteed fixed minimum pension of up to ₹5,000 per month shall be made available starting at the age of 60 years.
This is dependent on the contribution option exercised on entering at an age between 18 and 40 years, Shaji added.
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.