KVG Bank bags award for Atal Pension Yojana enrolment

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Karnataka Vikas Grameena Bank (KVGB) has been awarded the National Award for Senior Recording under Atal Pension Yojana (APY) from Pension Fund Regulatory and Development Authority (PFRDA), New Delhi.

Shrikant M Bhandiwad, Chairman of KVGB, received the award from Vivek Joshi, Secretary, Department of Financial Services, Government of India, and Deepak Mohanty, Chairman, PFRDA, in New Delhi on Wednesday.

Bhandiwad assumed the position of Chairman in April 2023. Expressing his happiness at receiving the award, Bhandiwad said APY is a safety net for workers in the informal sector for a pre-determined pension after 60 years.

The Bank has registered 3,42,852 accounts (cumulative) under APY. Over the period 2022-2323, the Bank registered 76,569 accounts against the target of 50,320 and achieved the target well ahead of the time frame.

Stating that PFRDA He gave a target of an average of 80 accounts per branch and said the bank achieved an average of 121 accounts per branch, this achievement being the highest among all other banks in South India.

KVGB has 629 branches in the nine district states from Vijayapura to Mangaluru.

Bhandiwad said KVGB plays a pivotal role in the implementation of all three social security schemes (PMJJBY, PMSBY and APY) launched by the central government, and the Bank’s priority continues to ensure access to social security benefits for villagers and individuals from informal sectors along with other key banking activities.