Online edition of India's National Newspaper
Tuesday, Jun 21, 2011
ePaper | Mobile/PDA Version
Google



Andhra Pradesh

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary |

Andhra Pradesh - Hyderabad Printer Friendly Page   Send this Article to a Friend

SBH woos customers

Special Correspondent


Bank announces free personal accident insurance coverage policy for SB account holders

Bank registered 120 per cent growth in operating profit and 109 per cent in net profit: Renu Challu


HYDERABAD: Unveiling a new add-on product for its customers, the State Bank of Hyderabad on Monday announced free personal accident insurance coverage for about 60 lakh savings bank account holders from July 1.

The SBH entered into an agreement with the United India Insurance Company Ltd (UIICL) to provide ‘Group Janata Personal Accident Insurance Coverage' to all savings bank account holders, aged between 10 and 75 years.

Giving details of the new product, Renu Challu, Managing Director, SBH, said the policy coverage for a sum of Rs. 1 lakh would be provided for death due to accident. It would be valid for one year, beginning from July 1 for all eligible existing savings bank account holders and for similar duration for all prospective customers from the date of opening the account. The coverage would be available regardless of the balance in the account. She said that SBH was adopting a ‘relationship-oriented' approach with customers. To make the branches more customer-friendly and provide greater space, their layout was being changed. Stating that SBH had grown across all sectors in the past few years, she said that it registered 120 per cent growth in operating profit and 109 per cent in net profit. The bank was strengthening its presence all over the State and would be covering 1,102 villages under financial inclusion

G. Srinivasan, chairman and managing director, UIICL, said the premium income of the company touched Rs.6,400 crore last year, 22 per cent increase over the previous year and it was expected to be in the range of Rs.8,000 crore this year. He said UIICL has tie-ups with 10 major public sector banks, apart from those in the private sector.

Printer friendly page  
Send this article to Friends by E-Mail



Andhra Pradesh

News: ePaper | Front Page | National | Tamil Nadu | Andhra Pradesh | Karnataka | Kerala | New Delhi | Other States | International | Opinion | Business | Sport | Miscellaneous | Engagements |
Advts:
Retail Plus | Classifieds | Jobs | Obituary | Updates: Breaking News |


News Update



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | Publications | eBooks | Images | Ergo | Home |

Copyright 2011, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu