abhishreshthaa
Abhijeet S
NEW INITIATIVES
In order to offer a number of diversified financial products and other services under the ONE STOP SHOP concept the Bank has initiated the following services / activities.
i) DEPSITORY SERVICE : DP Module of NSCL is installed at HO with back office support at various branches to facilitate our investors, customers and general public having capital market exposure, to open DP accounts with us.
ii) MARKETING GENERAL INSURANCE PRODUCTS : The Bank has tied up with National Insurance Company Limited in April 2003 for marketing its insurance products, as per MOU, the Bank proposed to switch over to market the insurance products under the corporate agency from 21.4.2004 onwards. Accordingly the Bank has provided mandatory training as per IRDA guidelines and has over 300 qualified officials.
iii) MARKETING MUTUAL FUNDS PRODUCTS : The Bank has tied up with Principal Financial Group, a USA based company and PNB for setting up an Asset Management Company, Trustee company and Distribution company both as a joint venture partner with equity participation as also for distribution of Mutual funds products through its branch network. Plans are also on the anvil to set up Life Insurance and Pension Fund Company and Insurance Booking Company with equity participation from all the above institutions as also Berger Paints India Limited.
iv) MONEY TRANSFER SERVICES : The Bank is also offering through its branches at potential centers payments of remittances received from abroad through the Western Union Money Transfer Services.
In order to offer a number of diversified financial products and other services under the ONE STOP SHOP concept the Bank has initiated the following services / activities.
i) DEPSITORY SERVICE : DP Module of NSCL is installed at HO with back office support at various branches to facilitate our investors, customers and general public having capital market exposure, to open DP accounts with us.
ii) MARKETING GENERAL INSURANCE PRODUCTS : The Bank has tied up with National Insurance Company Limited in April 2003 for marketing its insurance products, as per MOU, the Bank proposed to switch over to market the insurance products under the corporate agency from 21.4.2004 onwards. Accordingly the Bank has provided mandatory training as per IRDA guidelines and has over 300 qualified officials.
iii) MARKETING MUTUAL FUNDS PRODUCTS : The Bank has tied up with Principal Financial Group, a USA based company and PNB for setting up an Asset Management Company, Trustee company and Distribution company both as a joint venture partner with equity participation as also for distribution of Mutual funds products through its branch network. Plans are also on the anvil to set up Life Insurance and Pension Fund Company and Insurance Booking Company with equity participation from all the above institutions as also Berger Paints India Limited.
iv) MONEY TRANSFER SERVICES : The Bank is also offering through its branches at potential centers payments of remittances received from abroad through the Western Union Money Transfer Services.