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PR/1271

IDBI Bank signs MoU with Bajaj Allianz General Insurance Company Ltd.

Mumbai, 22 April 2015: IDBI Bank Ltd and Bajaj Allianz General Insurance Company Ltd (BAGIC) have entered into a Memorandum of Understanding (MoU) to implement the Pradhan Mantri Suraksha Bima Yojana (PMSBY) for savings bank account holders of the Bank. The MoU was signed by Smt. Medha V Joshi, Chief General Manager, Retail Banking Group, IDBI Bank and Mr. Sasikumar Adidamu, Chief Technical Officer,Bajaj Allianz, in presence of Shri M. O. Rego, DMD, Shri S K V Srinivasan, ED, IDBI Bank and Mrs.Alpana Singh, Head - Bancassurance, Bajaj Allianz.

Pradhan Mantri Suraksha Bima Yojana announced by the Hon'ble Prime Minister aims at addressing a critical issue of our society through social security system. PMSBY, an accident insurance scheme, is one of the three schemes announced by the Hon'ble Finance Minister in the Union Budget for the year 2015-16. The scheme offers accident insurance cover of Rs.2 lakh to the bank account holders in the age group of
18-70 years at an annual premium of Rs 12 plus service tax.

Seen in the photograph Shri M. O. Rego, DMD, IDBI Bank with Shri Sasikumar Adidamu - Chief Technical Officer, BAGIC exchanging the MoU signed between IDBI Bank Ltd. and Bajaj Allianz General Insurance Company Ltd.

About the Bank

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation. This enables the Bank to offer personalized banking and financial solutions to its clients. IDBI Bank has one of the largest housing loan portfolios amongst PSBs and offers housing loans at base rate to its existing and new customers. The Bank offers very competitive rates to the MSME segment wherein it has different schemes for the specific customer segments. IDBI Bank also has a strong focus on agriculture sector and allied activities through its customized products, competitive pricing and personalized services.

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सीआइएन/(CIN)L65190MH2004GOI148838

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