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Name the public sector bank which signed corporate agency pact with Life Insurance Corporation of India.
  • a)
    Union Bank of India
  • b)
    Bank of Baroda
  • c)
    Oriental Bank of Commerce
  • d)
    Bank of Maharashtra
  • e)
    State Bank of India
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Name the public sector bank which signed corporate agency pact with Li...
Union Bank of India (UBI), after its amalgamation with Corporation Bank and Andhra Bank, has announced a corporate agency agreement with Life Insurance Corporation of India (LIC) to distribute latter’s policies. As per the pact, UBI can act as a financial supermarket by offering LIC products of term insurance, pension, plan, children plan, ULIPs, and endowment schemes to its account holders, whereby they can select products according to their choice.
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Name the public sector bank which signed corporate agency pact with Life Insurance Corporation of India.a)Union Bank of Indiab)Bank of Barodac)Oriental Bank of Commerced)Bank of Maharashtrae)State Bank of IndiaCorrect answer is option 'A'. Can you explain this answer?
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