CURRENT AFFAIRS : BANKING & FINANCE
Karur Vysya Bank enters into a bancassurance agreement with SBI Life in the life insurance category
- Karur Vysya Bank (KVB) has executed an agreement with SBI Lite, the insurance arm of State Bank of India (SBI) as an additional bancassurance partner in the life insurance category.
What is bancassurance?
- Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products or insurance benefits to the bank’s customers.
- This partnership arrangement can be profitable for both companies.
