CURRENT AFFAIRS

Detailed explanation-1: -Karnataka Bank has entered into a Memorandum of Understanding with Bharti AXA Life Insurance Company to distribute the latter’s life insurance products.

Detailed explanation-2: -With this tie-up, the Bank is well placed to provide our customers a choice of life insurance products that best suits their needs and convenience,’’ said Mr. Govind Singh, MD & CEO, Utkarsh Small Finance Bank on the tie-up of Utkarsh Small Finance Bank Limited. Bharti AXA Life Insurance Company Ltd.

Detailed explanation-3: -Bharti AXA General Insurance is now a part of ICICI Lombard. Car registration no. Figures are for FY 2020-21.

Detailed explanation-4: -The shareholders of Bharti AXA shall receive two shares of ICICI Lombard for every 115 shares of Bharti AXA held by them. Bharti Enterprises currently owns 51 per cent stake in Bharti AXA General Insurance, while French insurer AXA has 49 per cent.

Detailed explanation-5: -Founded in 1976, by Sunil Bharti Mittal, Bharti has grown from being a manufacturer of bicycle parts to one of the largest and most respected business groups in India.