Mangalore: Karnataka Vikas Grameena Bank (KVGB), sponsored by Canara Bank, has been honored with a National Award for significant enrollment under the Atal Pension Yojana (APY) by the Pension Fund Regulatory and Development Authority (PFRDA) in New Delhi. Shreekant M Bhandiwad, Chairman of KVGB, received the award from Dr. Vivek Joshi, Secretary, DFS, Government of India, and Dr. Deepak Mohanty, Chairman of PFRDA, at a summit held in New Delhi on Friday.
Expressing his happiness over receiving the award, Bhandiwad highlighted that the Atal Pension Yojana provides a safety net for workers in the informal sector, ensuring a predefined pension after 60 years. He detailed the bank's achievements, noting that KVGB has enrolled 4,27,736 cumulative accounts under APY. During 2023-24, the bank enrolled 86,350 accounts against a target of 67,932, achieving the target well ahead of schedule. He also mentioned that PFRDA set a target of an average of 100 accounts per branch and the bank surpassed this with an average of 137 accounts, the highest among all banks in South India.
KVGB currently operates 629 branches across nine districts from Vijayapura to Mangalore. Notably, the bank made a national record by enrolling over 68,000 accounts in a single day during the last fiscal year.
Bhandiwad also emphasized KVGB's pivotal role in implementing all three social security schemes (PMJJBY, PMSBY, and APY) launched by the central government. He reiterated the bank's commitment to ensuring access to social security benefits for villagers and people from unorganized sectors, alongside its primary banking activities.
Shreekant M Bhandiwad, Chairman of Karnataka Vikas Grameena Bank, receiving the National Award for significant enrollment under the Atal Pension Yojana (APY) from Dr. Vivek Joshi, Secretary, DFS, Government of India, at a summit held in New Delhi on Wednesday.