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

Published on June 22, 2024
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).
Karnataka Vikas Grameena Bank has received national award for implementation  (APY)
  • 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
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