Karnataka Grameena Bank receives national award for outstanding APY performance

Karnataka Grameena Bank has been honoured with a prestigious National Award by the Pension Fund Regulatory and Development Authority (PFRDA), New Delhi, for its outstanding performance in enrolment under the Atal Pension Yojana (APY).

Chairman of Karnataka Grameena Bank Shreekant M. Bhandiwad received the award from Secretary, Department of Financial Services (DFS), M. Nagaraju and Chairperson, PFRDA, S. Raman during the APY Annual Felicitation Programme in New Delhi on Wednesday.

Karnataka Grameena Bank achieved a remarkable milestone by enrolling 2,49,185 APY accounts against the DFS/PFRDA target of 1,75,500 accounts, registering an achievement level of 142%, the highest among all banks in the State.

Karnataka Grameena Bank was formed last year by amalgamating two RRBs of the State and now it is only Regional Rural Bank in the State with a strong network of 1,750 branches spread across the State. The bank has a total business of ₹1,10,974 crore and serves nearly two crore customers.

Expressing his happiness over the recognition, Mr. Bhandiwad said that the Atal Pension Yojana plays a vital role in providing social security to workers in the unorganised sector by ensuring a guaranteed pension after the age of 60.

He urged all staff members to continue their dedicated efforts to enrol every eligible individual under the scheme.

PFRDA whole time member (Economics) Mamta Shankar, Prashant Kumar Goyal, Joint Secretary, DFS, Venkateswaralu Peri, Executive Director, PFRDA and others were present on the occasion.