BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which among the following small finance Bank has signed an MoU with LIC to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)?

A	Disha Microfin Private Ltd
B	Equitas Holdings P Limited
C	AU Small Finance Bank
D	Capital Local Area Bank Ltd

Explanation:

Detailed explanation-1: -To support the scheme, AU Small Finance Bank launched Pradhan Mantri Jeevan Jyoti Bima Yojana Plan in conjunction with ICICI Prudential Life Insurance Co. limited which is a pure group term insurance product that ensures financial security for the member’s family in the event of unfortunate death of the member.

Detailed explanation-2: -The PMJJBY is available to people in the age group of 18 to 50 years having a bank account who give their consent to join / enable auto-debit. Aadhar would be the primary KYC for the bank account. The life cover of Rs. 2 lakhs shall be for the one year period stretching from 1st June to 31st May and will be renewable.

Detailed explanation-3: -The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) launched in 2015, is a one-year life insurance scheme renewable from year to year offering coverage for death.

There is 1 question to complete.