CURRENT AFFAIRS

2017

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

Which group was tied up with the Punjab National Bank for distribution recently?

A	Bajaj Allianz General
B	Tata AIZ Insurance
C	LIC Insurance of India
D	HDFC LIFE Plan

Explanation:

Detailed explanation-1: -Punjab National Bank acquired New Bank of India in 1993.

Detailed explanation-2: -PNB Metlife India Insurance Company Limited. It was in 2011 that MetLife India launched bancassurance partnership with Punjab National Bank (PNB), and in 2013, Punjab National Bank (PNB) acquired 30% stake in MetLife India Insurance Co Ltd, making it PNB MetLife India Insurance Company Limited.

Detailed explanation-3: -Established in 1950 and headquartered in Kolkata, the bank was nationalised by the government of India in 1969 becoming one of public sector banks in the country. The bank has been amalgamated with Punjab National Bank, along with Oriental Bank of Commerce, with effective from 1 April 2020.

There is 1 question to complete.