Karnataka Vikas Grameena Bank (KVGB) sponsored by Canara Bank, which created a national record earlier by enrolling 45,000 accounts in a single day under Atal Pension Yojana (APY), now it has registered one more record under Pradhanmantri Suraksha Bhima Yojana (PMSBY) by enrolling 1,28,857 Accounts in a single day.
In his press release P Gopi Krishna, Chairman of the Bank ,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 implementation of all social security schemes like Atal Pension Yojamna (APY), Prime Minister Jeevan Jyothi Bhima Yojana (PMJJBY), and Prime Minister Suraksha Bhima Yojana (PMSBY).
The PMSBY Scheme is available to Bank account holders in the age group 18 to 70 for just Rs.20/- per year on an annual renewal basis. The risk coverage under the scheme is Rs.2 lakh for accidental death and full disability and Rs. 1 lakh for partial disability. The Bank is doing its job very effectively in informing these things to the masses and so far the Bank has enrolled 15,49,981 accounts since the inception of this scheme said P Gopi Krishna.
At present the Bank is operating in 9 district (Dharwad, Belagavi, Gadag, Haveri, Vijayapura, Bagalkot , Uttar Kannada, Udupi and Dakshina Kanada) with a branch network of 629.The bank is providing affordable banking services to nearly 2000 villages with Business of Rs. 30,700 crores.