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KVG Bank bags PFRDA awards

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Money & Banking

Regional rural bank enrolled 58,603 Atal Pension Yojana accounts in FY22 against the target of 39,000

Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Canara Bank, has bagged six national awards in different categories from the Pension Fund Regulatory and Development Authority (PFRDA) for its achievements under the enrolment of Atal Pension Yojana (APY).

P Gopi Krishna, Chairman of KVGB, received the awards from Supratim Bandyopadhyay, Chairman of PFRDA, in Chennai on Friday.

Gopi Krishna said APY is a safety net for workers in the informal sector for getting pre-defined pension after 60 years. So far, the bank has enrolled (cumulative) 2,64,817 accounts under APY.

During FY22 alone, the bank enrolled 58,603 accounts against the target of 39,000.

Krishna said KVGB is playing a pivotal role in implementing all the three social security schemes launched by the Central government. The bank’s priority to ensure access to social security benefits to villagers and people from unorganized sectors continues along with other main banking activities, he said.

KVGB has jurisdiction over nine districts in Karnataka with a clientele base of nearly 90 lakh.

Published on May 13, 2022

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