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KVG Bank bags national Award for APY enrollment

KVG Bank bags national Award for APY enrollment

Mangalore Today News Network

Mangaluru, June 07, 2023: Karnataka Vikas Grameena Bank (KVGB) sponsored by Canara Bank Bank has bagged National Award for significant enrollment under Atal Pension Yojana (APY) from Pension Fund regulatory and Development Authority (PFRDA) New Delhi. Mr. Shreekant M Bhandiwad, Chairman, KVGB received the Award from Dr. Vivek Joshi, Secretary, DFS, Government of India and Dr. Deepak Mohanty Chairman, PFRDA in a Summit held at New Delhi on Wednesday.


KVG Bank

Mr. Shreekant M Bhandiwad, Chairman, KVGB, Expressing his happiness over receiving the Award said that Atal Pension Yojana is a safety net for workers in the informal sector for getting pre defined pension after 60 years. Explaining the Achievement Mr. Bhandiwad said that so far the Bank has enrolled 342852(Cumulative) accounts under APY. During 2022-23 the Bank has enrolled 76569 accounts against the target of 50320 and achieved the target well before the time frame. Continue in this direction he also said that PFRDA has given a target of an average 80 Accounts per Branch and against this target the Bank has achieved an average of 121 accounts and this achievement is the highest among all other Banks in South India.

At present the Bank has 629 branches in the nine district jurisdiction from Vijayapura to Mangalore. It may be recalled here that the Bank made a national record by enrolling more than 44000 accounts on a single day in the last fiscal.

Mr. Shreekant M Bhandiwad also said that KVGB is playing a pivotal role in implementing all the three social security schemes (PMJJBY, PMSBY & APY) launched by the central Government and 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.

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