Banks to push Suraksha Bandhan Yojana from Raksha Bandhan

Shirole said the basic aim was to reach out to as many people as possible and apprise them of the schemes. “Starting August 29, we will team up with banks to convince people to opt for the recently launched Suraksha Bandhan Yojana (SBY). We will also urge people to gift this to their maids, drivers and helpers on the occasion of Raksha Bandhan.”

For the Suraksha Bandhan Yojana, one has to invest Rs 201 and Rs 5,001 which will be kept as a fixed deposit in banks and the yearly interest generated will be used to pay the premium.