SBI Life is planning to tap co-operative banks and regional rural banks (RRBs) to spruce up sales of its insurance products. | |
| SBI Life managing director and chief executive officer, Uday Sanker Roy, said that the board of five co-operative banks had cleared the proposal and a memoranda of understanding would be signed shortly. SBI Life is also looking for such tie-ups for selling insurance products with RRBs after the consolidation process of the banks were over. |
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| Roy said the company was keen on selecting co-operative banks as bancassurance partners, despite its promoter SBI's large presence, because of extensive reach. |
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| "Others will utilise them if we don't make use of them," he said. Currently, around 5,000 branches of the SBI group sells insurance products of SBI Life. |
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