Birla Sun Life to partner in micro insurance project

Sun Life Insurance (BSLI), an Aditya Birla Group company, has been selected to partner a 4.6 million pounds development project to promote a sustainable livelihood program in three Indian states.

The three-year project has been initiated by the UK-based Research Into Use (RIU) and funded by Department for International Development (DFID). This project will help the company foray into micro finance in the country, BSLI said in a release here today.

It will directly benefit 2,000 villages and around 10,000 Self Help Groups (SHG) and over 100,000 group members across Bihar, Uttar Pradesh and Madhya Pradesh.

Centre for Promoting Sustainable Livelihood (CPSL), a Patna-based NGO, has identified BSLI as a coalition partner to provide micro insurance to the SHG members. CPSL is also setting up 10,000 SHGs, while Indian Council of Agricultural Research (ICAR) will provide technical support to the project.