Grameen Bank performs extraordinarily implementing social security schemes

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SRINAGAR: Financial Inclusion and Insurance Department, J&K Grameen Bank in collaboration with RBI & NABARD successfully implemented various social security schemes initiated by the Government of India. To illustrate, in the just concluded FY 2018-19, a total 12,644 APY enrollments were made and 28,451 PMJDY accounts were opened.
Besides, 40,215 people were also enrolled under GoI insurance schemes like PMJJBY and PMSBY. In order to enable 100% renewal of existing customers under these schemes, routine SMSs are sent to the customers for maintaining a minimum balance of Rs 330 (in case of PMJJBY) and Rs 12 (in case of PMSBY) as and when renewals of such customers are approaching the due date, an official handout read.
In respect of claims, the bank continued with its 100% claim settlement ratio under these schemes. A total of 43 claims amounting to Rs 86 lakh were settled under PMJJBY, 16 claims amounting to Rs 32 lakh were settled under PMSBY, and 2 claims amounting to Rs 2 lakh were settled under RUPAY cards issued, it read.
Mass awareness was spread for all social security schemes through 3,764 financial literacy and awareness camps conducted under various initiatives like Gram Swaraj Abhiyaan, Swachh Bharat Abhiyaan, FLAPs, VLPs, and so on. These camps were conducted throughout the year mostly covering unbanked and rural areas of the state, it read.
Meanwhile, on the occasion of Navratri, Chairman, J&K Grameen Bank, Janak Raj Angural, extended his wishes to people of the state and invited them to come and avail hassle-free and convenient loaning with minimum documentation and attractive interest rates, details of which are also available on bank’s official website.
The bank offers loans at very lucrative rates like car loan @ 9.25 %, housing loan @ 8.75 %, & education loan @ 10.50 %, it added.