Karnataka Vikas Grameena Bank (KVGB), sponsored by Canara Bank, has received the national award for significant enrolment under the Atal Pension Yojana (APY) by the Pension Fund Regulatory and Development Authority (PFRDA)
At a summit held in New Delhi on Friday, the chairman of KVG Bank Shreekant M. Bhandiwad received the award from Secretary, DFS, Government of India Vivek Joshi and Chairman of PFRDA Deepak Mohanty.
Mr. Bhandiwad said that KVGB had enrolled 4,27,736 cumulative accounts under APY. During 2023-24. The bank enrolled 86,350 accounts against a target of 67,932, achieving the target well ahead of schedule.
He said that while PFRDA had set a target of an average of 100 accounts per branch, KVGB surpassed it with an average of 137 accounts, the highest among all banks in South India. KVGB currently operates 629 branches across nine districts from Vijayapura to Mangaluru. Notably, the bank made a national record by enrolling over 68,000 accounts in a single day during the last fiscal year.
Published - June 22, 2024 06:45 pm IST
