Central Bank of India signed MOU with The New India Assurance Co. to implement Government’s PMSBY
Central Bank of India signed MOU with The New India Assurance Co. to operationalise Pradhan Mantri Suraksha Bima Yojana (PMSBY), the scheme announced by the Hon Finance Minister in Union Budget 2015-16.
PMSBY insurance scheme is being launched for the benefit of all saving account holders of Banks. The scheme will provide insurance cover for accidental death or disability on account of an accident. The yearly premium for Rs.2 lacs insurance cover is Rs.12 per member. The scheme is available for members in the age group of 18 to 70 years. The proposed date of commencement of the schemes will be 1st June 2015.