PM Bima Yojana: Varachha Co-op Bank writes to Modi

Kanjibhai R Bhalala, Chairman of Surat based Varachha Co-operative Bank has written a letter to Prime Minister Narendra Modi lauding his vision and listing the UCB’s achievments in the feild of Pradhan Mantri Bima Yojana.

Having achieved a figure of insuring more than 70 thousand beneficiaries, the UCB assures the Prime Minister of insuring 100000 members under each category by 31st Dec.2018.

“We feel proud of our efforts to reach the scheme to the poor people and enrol more members on behalf of The Varachha Co-operative Bank Ltd., Surat. During the first year, we had enrolled 54740 members in PMJJBY and 62998 members in PMSBY. In the execution of Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jivan Jyot Bima Yojana, our Bank is number one in the western Region of our nation, comprising of 6 states “writes Bhalala in the letter, copy of which he has also mailed to Indian Cooperative.

Varachha Co-op Bank has, during the financial year 2018-19, enrolled more than 70000 members under PMJJBY and 85000 members under PMSBY by collecting a sum of Rs.330 and Rs.12 respectively.

Till date, it also claims to have settled claims under the above Scheme to the legal heirs of 173 members and a sum of Rs.3.46 crore has been disbursed.

The UCB also claims to have introduced Special Deposit Schemes for widows named as Ganga Bachat Yojana and for physically challenged people as Divyang Bachat Yojana with attractive interest rates.

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