CURRENT AFFAIRS

Detailed explanation-1: -HDFC Life signed a bancassurance (Bank-Insurance) agreement with South Indian Bank to enable customers of the South Indian Bank to avail HDFC Life’s life insurance products.

Detailed explanation-2: -SBI Life Insurance with the state-owned Indian Bank has tied up to enter into a. This will enable them to offer solutions to financial plannings that are holistic to the customers of the Indian Bank.

Detailed explanation-3: -Saraswat Co-operative Bank, the biggest cooperative bank in the country, has taken over Mumbai-based The South Indian Co-operative Bank, offering huge relief to about 66,000 depositors.

Detailed explanation-4: -HDFC Life distributes its products through a multi-channel network consisting of Insurance agents, Bancassurance partners (HDFC Bank, Saraswat Bank, RBL Bank), a Direct channel, Insurance Brokers, MFIs (Micro Finance Institutions), SFBs (Small Finance Banks), etc.

Detailed explanation-5: -The bank can offer the SIB-SBI (South Indian Bank- State Bank of India) Co-branded Credit cards to customers who come under the selected/designated branches across India.