Which Bank Signed Bancassurance Pact with Chola MS General and Max Life Insurance Company?

Today General Knowledge(GK)

Indian Overseas Bank

Kotak Mahindra Bank

Tamilnad Mercantile Bank

Karur Vysya Bank

Correct Answer : Option (C) - Tamilnad Mercantile Bank

The old private sector bank Tamilnad Mercantile Bank (TMB) has entered into bancassurance partnerships with Cholamandalam MS General Insurance Company Ltd and Max Life Insurance Company to provide general insurance products and life insurance schemes respectively to TMB’s customers.

Under the agreement, Tuticorin-based TMB’s 500-plus branches will start retailing the insurance products of both companies.

Bancassurance : It is the selling of insurance products through banking channels. In Bancassurance a bank enters into an agreement with an Insurance company. The Bank makes its customer database available to the Insurance companies. If the bank customer buys the insurance products then the bank will receive a commission from the Insurance companies.

Here both the bank and the Insurance companies benefit. The Insurance companies get new customers and banks earn extra income.

Regulator of Bancassurance in India : Bancassurance sector is regulated by the Insurance Regulatory and Development Authority of India (IRDAI)..

Source : The Bindu Businessline

Published On : November 30, 2022

Category : Banking

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Malaysia

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Correct Answer : China

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Who has become the first bowler to take 200 wickets in the history of IPL?

Mitchell Starc

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Correct Answer : Yuzvendra Chahal

The Rajasthan Royals leg spinner reached the milestone during the IPL 2024 match against Mumbai Indians at the Sawai Mansingh Stadium in Jaipur on Monday (22nd April 2024). Chahal had Mohammad Nabi caught and bowled in his first over of the night to etch his name into the history books.

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The 33-year-old Chahal made his IPL debut in 2013 and has played a total of 153 matches in the tournament till date. His wickets have come at an average of 21.60 and a strike rate of 16.76, which is the best among the top seven wicket-takers in the competition.

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