Source: BL:Mangalore, Sep,2,2010
Corporation Bank has signed a memorandum of understanding (MoU) with United India Insurance Company Ltd to create awareness and to market and distribute micro-insurance products through business correspondents engaged by the bank.
A bank release said here on Wednesday that in addition to basic financial services, Corporation Bank, through this understanding with United India Insurance Company Ltd, intends to provide non-life micro-insurance and health insurance products through smart cards facilitating customers to avail these insurance products from their own villages.
Mr K. Rama Murthy, General Manager, Corporation Bank, and Mr K. Sanath Kumar, General Manager, United India Insurance, signed the MoU in the presence of Mr G. Srinivasan, Chairman and Managing Director, United India Insurance, at Chennai recently, the release said.
Corporation Bank has operationalised over 1,300 ‘Corp Grameena Vikas Kendras' (branchless banking terminals) to provide banking facilities to financially excluded people in rural and urban areas, it added.
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