Schemes for Shareholders

Kalyan Janata Sahakari Bank allocate funds from it’s each year’s profit towards implementing welfare schemes for the members of the bank as per permissible under applicable rules. These schemes are reviewed every year to meet the requirements of members of the bank. Wellbeing of the members (shareholders) has always been focus area for the bank, for which bank has formulated various schemes. The detailed terms and conditions governing the schemes are given hereunder. Members are requested to contact bank’s share department to know the latest changes / modifications or any improvements in the said schemes.

Eligibility for being shareholder :
  • Minimum shareholding: ₹ 1,000/-
  • Member should hold minimum deposit of ₹ 500/- or should have opted minimum loan facility of ₹ 1,00,000/- (as on 31st March of immediate preceding financial year)
  • Member should comply KYC requirements as per RBI guidelines.
  • Member should not invite disqualification under bye laws.
  • 1. Financial assistance for Medical tests and operations :

    (Subject to scrutiny and approval by Doctor/s on the panel of the Bank)

    Sr. No. Name of Surgery / Test Amount of Medical aid
    (Amount in Rs.)
    1 Disability- Natural / Due to Accident * ₹ 7,500/-
    2 Angiography ₹ 3,000/-
    3 Angioplasty ₹ 10,000/-
    4 Bypass Surgery ₹ 15,000/-
    5 Major Brain Surgery ₹ 15,000/-
    6 Kidney Transplant ₹ 15,000/-
    7 Cancer ₹ 7,500/-
    8 Cataract Operation ₹ 3,000/- (Each Eye)
    9 M.R.I. ₹ 1,500/-
    10 Scanning ₹ 500/-
    11 Color Doppler Test ₹ 500/-
    12 Operation of Ear / Nose / Throat ₹ 1,000/-
    13 Operation of Hernia / Hydrocele/Appendix / Prostate Gland ₹ 2,500/-
    14 Urinary stone / Gall Bladder Stone ₹ 2,500/-
    15 Operation of Eyes (Glaucoma / Retina ) ₹ 3,000/-
    16 Spine surgery ₹ 7,000/-
    17 Joint Replacement ₹ 10,000/-
    18 Heart Valve Operation ₹ 10,000/-
    19 Liver Transplant ₹ 15,000/-
    20 Major Surgery : Abdominal, Pancreas, Gall Bladder, Uterus, Intestine, Spleen, Ovaries, Lungs, Liver, Anastomosis ₹ 10,000/-
    21 Fracture of Bone requiring only Plaster ₹ 1,000/-
    22 Compound Fracture of Bones requiring surgery ₹ 3,000/-
    23 Dialysis ₹ 5,000/-
    • From above mentioned list, point no. 21 to 23 are applicable only for the Surgery / Test done on and after 01/08/2018.
    • Natural disability / disabilitydue to Accident:
      • Bank provides Financial Aid of ₹ 7,500/- to Shareholder, who has become Physically Handicapped due to accident or other medical / natural reasons.
      • Shareholder should submit certificate from All India Institute of Physical Medicine and Rehabilitation or any other government hospital regarding disability of 40% or more.
  • 2. Financial assistance to Nominee / Legal heir of the Shareholder, upon shareholder’s demise :

    Bank provides financial assistance only at the time of share refund applied by nominee / legal heir in case of Shareholder’s Natural death / death due to accident.

    • Eligibility:
      • Person applying for financial assistance should be nominee in Bank's record or a Legal heir of deceased member.
      • Application should be made within two years from the date of death of the Shareholder.
      • The nominee / legal heir should submit identity proof as per KYC policy to the satisfaction of the Bank.
      • Amount of assistance will be ₹1,000/- in case of natural death and ₹5,000/- in case of death due to accident
  • 3. VidyarthiPravinyaPuraskar :

    Meritorious Shareholders / children of Shareholders are bestowed by the bank with VidyarthiPravinyaPuraskar.

    • Eligibility:
      • Member / Member’s children should have appeared for exam in the immediate preceding academic year in which the Puraskar is declared / distributed.
      • Mother / Father of student should be shareholder of the bank as on 31stMarch of that year in which the puraskar is declared /distributed.
      • He / She should be a member while applying for VidyarthiPravinyaPuraskar. (he / she should not have been classified as disqualified member under bye laws)
    • Criteria for Awards :
      • Std 12thScience : for General Category: 75% and above. For SC, ST, VJ, NT, SBC: 70% and above.
      • Std 12th Arts &Commerce : 70% and above.
      • Std10th : for General Category : 75% and above. For SC, ST, VJ, NT, SBC: 70% and above.
      • Std 5th & 8th Scholarship Exam : State Govt. Scholarship should be secured.
      • Scholarship for National Talent Search (Std 10th) : Scholarship should be secured.
  • 4. General terms & conditions :

    The general terms and conditions governing the schemes are as under. The terms are :

    • The shareholder must be a Ordinary Member of the Bank and must have completed two years of his / her membership on the date of claiming the benefit under any of these schemes. The term "Member" here does not include "Nominal Member"
    • Shareholder should apply within Two years from the date of surgery or test which has been performed after completion of two years of his/ her membership.
    • Shareholder can apply for any of the following medical tests or surgeries "ONLY ONCE" during the entire tenure of his / her membership.
    • In case of joint shareholding, benefits are extended only to the member whose name appears first in the register of shareholders maintained by the Bank.

    The management has the right to amend these terms any time, without notice to members.