Pension Fund Regulatory and Development Authority (PFRDA) honours Karnataka Grameena Bank (KGB) for outstanding Atal Pension Yojana (APY) performance

Key facts

• The Pension Fund Regulatory and Development Authority (PFRDA) presented a National Award to Karnataka Grameena Bank (KGB) for outstanding performance in enrolment under the Atal Pension Yojana (APY).
• KGB enrolled 2,49,185 APY accounts against the target of 1,75,500 accounts set by the Department of Financial Services (DFS) and PFRDA.
• The bank registered an achievement level of 142%, which was the highest among all banks in Karnataka.
• KGB was formed by amalgamating two Regional Rural Banks (RRBs) of Karnataka and operates a network of 1,750 branches.
• The bank has a total business of ₹1,10,974 crore and serves nearly two crore customers.