PMJBY, a life insurance scheme, provides life insurance cover of INR0.2m to the bank accountholders at a premium of INR330 plus service tax per year in the age group of 18-50 years.
The insurance cover will be available for up to 55 years.
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IDBI Bank DMD M.O. Rego said: "At IDBI Bank, we have been relentlessly working towards connecting with the masses and catering to their financial needs.
"PMJBY is yet another initiative of the government towards inclusive growth. We take pride in partnering in such an initiative and will work tirelessly to make this a success."
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