Karnataka Vikas Grameena Bank has received national award for implementation (APY)

Current Context: Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Canara Bank, has received a national award from the Pension Fund Regulatory and Development Authority (PFRDA).

• The award recognizes KVGB’s significant enrollment of customers under the Atal Pension Yojana (APY).
• APY provides a safety net for workers in the informal sector, ensuring a pre-defined pension after 60 years.
• KVGB has enrolled 4,27,736 cumulative accounts under APY, surpassing targets and achieving the goal well ahead of schedule.
• Notably, the bank’s average of 137 accounts per branch is the highest among all banks in South India.

Question:

1 Which national award did KVGB receive from the Pension Fund Regulatory and Development Authority (PFRDA)?

• A) Best Customer Service Award
• B) Financial Inclusion Award
• C) Excellence in Rural Banking Award
• D) Highest Enrollment Award for Atal Pension Yojana

Answer: D) Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Canara Bank, has received a national award from the Pension Fund Regulatory and Development Authority (PFRDA). The award recognizes KVGB’s significant enrollment of customers under the Atal Pension Yojana (APY).