Syndicate Bank, a state-run bank, has entered into a Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) to implement the ‘Pradhan Mantri Jeevan Jyoti Bima Yojana’. PMJBY, a life insurance scheme, is one of the three schemes announced by the Finance Minister in the Union Budget for the year 2015-16. The scheme offers life insurance cover of Rs 2 lakh to the bank account holders in the age group of 18-50 years at an annual premium of Rs.330 plus service tax. The insurance cover will be available up to 55 years. The scheme will come into effect from June 1, 2015.
Syndicate Bank has registered a fall of 19.69% in its net profit at Rs 304.99 crore for third quarter ended December 31, 2014 under review as compared to Rs 379.76 crore for the same quarter in the previous year. However, total income of the bank has increased marginally by 18.17% at Rs 5921.58 crore for Q3FY15 as compared Rs 5011.28 crore for the corresponding quarter previous year.
Company Name | CMP |
---|---|
SBI | 816.95 |
Canara Bank | 118.05 |
Bank Of Baroda | 268.75 |
PNB | 123.90 |
Union Bank Of India | 144.65 |
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