The Pondicherry Cooperative Urban Bank Limited on Monday signed a Memorandum of Understanding (MoU) with National Insurance Company Limited for implementing Pradhan Mantri Suraksha Bima Yojana (PMSBY), a Union government scheme to provide security against personal accidental risk and permanent or partial disability.
Accident coverage
A bank official said that over 15,000 Savings bank account holders in the Pondicherry Cooperative Urban Bank would get accidental coverage up to Rs. 2 lakh for an annual premium of Rs.12.
Application forms for enrolment will be provided to all the customers.
Saving
The amount will be automatically deducted from the savings bank account if the customer gives an undertaking to join the scheme.
Nirmala Ravishankar, Deputy General Manager of National Insurance and Vasanth Kumar, Managing Director of Pondicherry Cooperative Urban Bank signed the MoU in the presence of Chief Minister N. Rangasamy.
