Union Bank signs MOU with Star Union Dai-ichi Life Insurance & New India Assurance

Union Bank of India signed a MoU with Star Union Dai-Ichi Life Insurance Co. Ltd. & The New India Assurance Co. Ltd. to launch two social security insurance schemes viz. “Pradhan Mantri Jeevan Jyoti Bima Yojana Scheme (PMJJBY)“ & “Pradhan Mantri Suraksha Bima Yojana (PMSBY) “ respectively as announced by the Government in the budget as a part of financial inclusion programme implemented through Banks followed by Pradhan Mantri Jan Dhan Yojana. The above schemes aimed to extend life as well as nonlife insurance benefits to rural & poor people at a lower cost.The MOU was signed by S. K. Singh, GM, Union Bank of India, with Girish Kulkarni MD & CEO, Star Union Dai-Ichi Life Insurance Co. Ltd and Rakesh Kumar, GM, The New India Assurance Co. Ltd. in the presence of Arun Tiwari, CMD, Union Bank of India and Executive Directors Rakesh Sethi and Kishor P Kharat.

Source: The Times Of India

Date: 28-04-2015

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