SBI Signs MOU with National Insurance Company Ltd.

State Bank of India (SBI) and National Insurance Company Limited (NICL) signed a MoU on 28^th April 2015 to roll out accidental death and disability cover for savings bank account holders covered under Pradhan Mantri Suraksha Bima Yojana (PMSBY). The Savings Bank accountholders in the age 18 to 70 years get accident insurance cover of Rs 2 lac at a nominal premium of Rs 12/- per year.