MSCB ties-up with Bajaj Allianz

"We are happy to offer our platform to Bajaj to devlop their customer base through our distribution network," MSCB Chairman, Manikrao Patil, told reporters.     

The bank had proposals from other insurance players as well, Patil said, adding that "after studying them all, we found Bajaj Allianz the most suitable to do business," Patil said.     

Commenting on the tie-up with the bank, Bajaj Allianz's Associate Vice President (Business Procurment), Aniruddha Shanbhag, said that the bank's platform would greatly improve its distributuion strength in Maharashtra and enable the comany penetrate deep into the country, especially the rural and remote areas.     

MSCB has 50 branches and two extension centres spread over 31 districts of the state.     
With a customer base of around 3-lakh, the bank's total deposits and advances stood at Rs 14,000-crore and 10,000-crore in FY 08, respectively.