MANGALORE:
Life Insurance Corporation of India (LIC) and Corporation Bank have agreed to look into various options in formalising joint market operations in reverse mortgaging and financial inclusion, according to the Chairman of Corporation Bank and Chairman of LIC, Sambhamurthy and Vijayan, respectively.
Addressing a joint press conference here on Thursday, Mr. Vijayan said the new concept of reverse mortgaging as well as financial inclusion as featured in the Union Budget 2007 had different salient features and both Corporation Bank and LIC thought it fit to appoint a working group for effective initiation of these two concepts. The group would submit its report soon.
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