#Canara Bank, a leading nationalized bank has entered into a #memorandum of understanding (#MOU) with #Life Insurance Corporation (#LIC) of India for offering the #Pradhan Mantri Jeevan Jyoti Bima Yojana (#PMJJBY) #insurance cover to all its eligible customers. The bank has also partnered with the United India Insurance Company for offering the #Pradhan Mantri Suraksha Bima Yojana (#PMSBY) insurance cover.
The schemes are available to account holders of the Bank and the coverage under these schemes will commence from June 1, 2015 and the coverage period for all subscribers would be from June 1, 2015 to May 31, 2016. Insurance cover under PMJJBY is Rs 2 lakh at a premium of Rs 330 per annum and Rs 2 lakh under PMSBY at a premium of Rs 12 per annum.
Canara Bank has registered a rise of 60.25% in its net profit at Rs 655.97 crore for third quarter ended December 31, 2014 as compared to Rs 409.35 crore for the same quarter in the previous year. Total income of the bank has increased 11.82% at Rs 12227.86 crore for Q3FY15 as compared Rs 10935.29 crore for the corresponding quarter previous year.
Curated From : Canara Bank enters into MoU with LIC of India