LIC signs MoU with JK Grameen Bank

SRINAGAR: The Life Insurance Corporation of India Thursday signed a MoU with J&K Grameen Bank for providing Life Insurance cover to the Bank’s Savings accountholders.
The cover will be provided under the Pradhan Mantri Jeevan Jyoti Bima Yojana—a scheme announced by the Government of India in the budget.
The MOU was signed by Divisional Manager Ashok Thakur and Chaitanya Sharma of LIC of India and the Bank’s Chairman Vagish Chander Sharma and Anita Sharma.
“The scheme will give Life Coverage of Rs 20,0000 between age 18 to 50yrs in case of death due to accident or natural to accountholders of the Bank with very low premium off Rs 330,” a press statement issued here said.