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TMBL Signs an Agreement with Bajaj Allianz

Published on December 13, 2022
Current Context: The Tamilnad Mercantile Bank Ltd (TMBL) signed a partnership agreement with Bajaj Allianz Life Insurance Co Ltd for bancassurance.
TMBL Signs an Agreement with Bajaj Allianz
  • The strategic alliance was signed by the MD & CEO of TMBL, S Krishnan, and the MD & CEO of Bajaj Allianz Life, Tarun Chugh.
  • The primary objective of this partnership is to sell the life insurance products of Bajaj Allianz through 500 branches of TMBL.
  • The bank will offer its new and existing customers:
  1. Term insurance
  2. Retail products
  3. Savings plan
  4. Retirement plan
  • TMBL was established in 1921 with its headquarters in Thoothukudi, Tamil Nadu. It was formerly known as Nadar Bank. The current MD & CEO of the company is S Krishnan.
  • Bajaj Allianz Life Insurance Co Ltd is a joint venture between Bajaj Finserv Ltd and the Germany-based Allianz SE. It was established in 2001 with its headquarters in Pune. The current MD & CEO of the company is Tarun Chugh.

Question:

Q.1 Which of the following recently signed a partnership agreement with Bajaj Allianz Life Insurance Co Ltd for bancassurance?
a. Karur Vysya Bank
b. Saraswati Cooperative Bank
c. Tamilnad Mercantile Bank
d. Bangiya Gramin Vikas
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