IDBI Bank, the public sector lender has entered into a Memorandum of Understanding (MoU) with Bajaj Allianz General Insurance Company (BAGIC) to implement the Pradhan Mantri Suraksha Bima Yojana (PMSBY) for savings bank account holders of the Bank. PMSBY announced by the Prime Minister aims at addressing a critical issue of our society through social security system.
PMSBY, an accident 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 accident insurance cover of Rs 2 lakh to the bank account holders in the age group of 18-70 years at an annual premium of Rs 12 plus service tax.
IDBI Bank is a Universal Bank with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its large network of Branches and ATMs, spread across length and breadth of India.
