Mumbai: 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. HV MKJ