CURRENT AFFAIRS

2017

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Canara bank partners with which insurance company to sell policies through its branches?

A	Life Insurance Corporation
B	United Insurance Company
C	New India Assurance Company
D	Bajaj Allianz General Insurance Company

Explanation:

Detailed explanation-1: -In our endeavor to provide all financial services to our customers under one roof, the Bank entered into a joint venture with HSBC Insurance (Asia Pacific) Holdings Limited and Punjab National Bank to form Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited.

Detailed explanation-2: -Bank has entered into a corporate agency Tie-up with TATA AIG General Insurance Co. Ltd. for selling their insurance products across Canara bank branches.

Detailed explanation-3: -It is also tied up with Can Fin Homes and IndianMoneyInsurance.com. In April 2020, Oriental Bank of Commerce had merged with Punjab National Bank. On 15 June 2022, the company rebranded as Canara HSBC Life Insurance.

Detailed explanation-4: -Canara Bank is an Indian public sector bank under the control and ownership of Ministry of Finance, Government of India.

Detailed explanation-5: -HSBC Insurance (Asia-Pacific) Holdings Limited is part of the worldwide HSBC Group and is wholly owned by The Hongkong and Shanghai Banking Corporation Limited.

There is 1 question to complete.