AU Small Finance Bank Inks MoU with LIC to Offer PMJJBY Scheme

Banking finance company AU Small Finance Bank has signed an MoU with LIC to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Under the MoU, LIC will give a life cover of Rs2 lakh in case of death to the customer at a nominal premium of Rs330 per annum.

The company has re-entered the housing finance segment. The company will also offer loans under government’s affordable housing and subsidy schemes such as Pradhan Mantri Awas Yojana. The product will be targeted for both salaried and self- employed (professional and non-professional) customers.
Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • MD and CEO of AU Small Finance Bank- Sanjay Agarwal, Headquarters- Jaipur, Rajasthan.
  • Pradhan Mantri Jeevan Jyoti Bima Yojana was launched in 2015.
Source- The Hindu Business Line