Pragathi Krishna Gramin Bank, headquartered in Ballari and having a jurisdiction over eleven districts, has signed a Memorandum of Understanding (MoU) with LIC of India and United India Insurance Company for implementation of Pradhan Mantri Jeevan Jyothi Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). The two insurance products would respectively cover life risk and accidental deaths/disability of the account holders.
To avail the PMJJBY insurance cover, up to Rs. 2 lakh, the account holder will have to pay an annual premium of Rs. 330. The scheme covers individuals aged between 18 and 50 years.