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Monthly Contribution
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MBD Scheme
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MBA Fund MBAD Scheme II
On 31st march 2024 the accumulated monthly contribution i.e. Capital Deposit was Rs.34 crore and 24 Lakhs. During the year we have received Rs. 4 crore 79 lakhs and Rs. 3 crore 40 lakhs was refunded to the retired members. At the end of the year the Capital Deposit was Rs.35 crore 44 lakhs which shows a net increase of Rs.1 crore 39 lakhs.
During the reporting year amount of Rs.15 Lakhs was paid as Assistance under the scheme to the 8 nominees of deceased members. The new Scheme was introduced four years back with assumption of death rate per thousand would be 4(backed by previous year experience)However due to increasing average age of the RBI employee, the death rate for last two years has gone upto 3 per thousand. under the old scheme i.e. MBD I Society has decided to increase the Insurance cover up to Rs. 2.00 lakh.
During the reporting year Rs. 46 Lakh was paid as assistance under scheme to nominees of 8 deceased persons. Under this MBAD Scheme we are providing insurance cover of 6 lakh.Total insurance cover under 1st and 2nd MBD scheme together is Rs. 8 Lakh.