CURRENT AFFAIRS

Detailed explanation-1: -Under the partnership, RBL Bank will distribute ICICI Prudential Life’s products through its network of 398 branches spread across 28 states besides its internet and mobile banking touch-points, that distinguish the bank’s multi-channel distribution network.

Detailed explanation-2: -In terms of bancassurance partnerships, it tied up with IndusInd Bank, AU Small Finance Bank, IDFC First Bank, RBL Bank and NSDL Payments Bank. It also tied up with distributors including PhonePe and Wealth India Financial Services as well as insurance broking entities -BSE EBIX and Magnum Insurance Broking.

Detailed explanation-3: -ICICI Lombard enters into bancassurance tie-up with AU Small Finance Bank | Business Standard News.

Detailed explanation-4: -ICICI Prudential Life Insurance Company (ICICI Prudential Life) is a joint venture between ICICI Bank Ltd., India’s largest private sector bank, and Prudential.

Detailed explanation-5: -ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. ICICI Prudential Life began its operations in the fiscal year 2001.