State-run Indian Bank on Wednesday said it is providing insurance cover of up to Rs 4 lakh to its 9,047 business correspondents who are making available essential banking services in rural and unbanked areas amid the nationwide lockdown.
The insurance is offered under Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), the bank said in a release.
The lender is offering insurance coverage to business correspondents of erstwhile Allahabad Bank which got merged with it from April 1.
Business correspondents are among the frontline banking service providers who take basic banking services like cash deposits, withdrawal, among others to even the remotest places using Aadhaar-enabled Payment System (AePS) platform.
Via – Economic Times
