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Monday, March 20 2023

Enrollment of 4125 APY Accounts in a single day- KVGB sets a new record

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Mangaluru: Karnataka Vikas Grameena Bank (KVGB) sponsored by Canara Bank, has set a new record by enrolling 4125  Accounts under Atal Pension Yojana (APY) in a single day. The Bank has 10 Regional Offices in its service area of nine districts including Managaluru and the Chikodi Regional Office of the Bank has made this achievement on Tuesday, said Gopi Krishna, Chairman of the Bank.

Speaking on the occasion P Gopi Krishna said that the Bank firmly believes that delivery of financial services at an affordable cost to the vast sections of the disadvantaged and low-income groups is a National Priority. The Bank has done exceedingly well in that area and the Bank is playing a pivotal role in the implementation of social security schemes like Atal Pension Yojana (APY), Prime Minister Jeevan Jyothi Bhima Yojana (PMJJBY), and Prime Minister Suraksha Bhima Yojana (PMSBY).

He said that since the introduction of these schemes the Bank has enrolled (Cumulative) 225168 accounts under APY,  547830 policies under PMJJBY and 1228320  policies under PMSBY. APY is a safety net for workers in the informal sector for getting pre-defined pensions after 60 years. So far the Bank has settled nearly 4000 claims (Rs.80 Crore) under PMJJBY and nearly 800 claims under PMSBY (Rs.16 Crore). This has helped poor families to lead the life in the event of the sudden death of the caretaker, Gopi Krishna said.

Gopikrishna also said the Bank’s achievement in this field has been recognized by the Pension Fund Regulatory Authority (PFRDA), which has awarded 10 National Awards relating to last financial year. . The Regional Manager of the Bank Ramanand Naik and Chief Manager, Marketing Ullas Gunaga were also present.

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