LIC, Vijaya Bank ink MoU for share out insurance productsby Simranjeet Singh
Vijaya Bank has become the 9th public sector bank to have inked a MoU of the kind with the Life Insurance Corporation (LIC).
Vijaya Bank CMD Albert Tauro said that the union would help Vijaya Bank become a 'one-stop' solution for its clients, offering a range of financial services and products.
With more than 7.5 million customers and a pan-India attendance through 1,163 branches, Vijaya Bank hopes to add to the incremental business of LIC.
A K Dasgutpa, LIC (
LIC had collected total first premium to the tune of Rs 42,960.44 crore, and had paid up total claims amounting to Rs 50,535 crore in 2009-10.
The total income generated was Rs 2, 47,310 crore while the total investment had crossed 11 lakh crore.
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