The State Bank of Hyderabad (SBH) and National Insurance Company Ltd (NICL) has signed an MoU to implement Pradhan Mantri Surakhsa Bima Yojana to be launched by the Prime Minister on 9th May.
The PMSBY is a Central Government Scheme intended to provide security against Personal Accident Risks up to Rs. 2 Lakhs with a nominal premium of Rs. 12/-. All the SB Account Holders of SBH in the age group between 18 to 70 years are eligible to join in the scheme. The scheme will commence from 1st June, 2015 and all the account holders who have given consent for auto debit before 31st May will be covered from 1st June, 2015 to 31st May, 2016. (INN)