Vijaya Bank, a leading public sector bank, has entered into a corporate agency agreement with insurance behemoth Life Insurance Corporation (LIC) of India for the distribution of bancassurance products of LIC of India which hitherto were being done by the bank on a referral basis.
With more than eight million customers spread across 1200 pan-India core banking solution (CBS) networked branches, the bank will have enormous scope for catering to the varied life insurance requirements of the customers through quality products of LIC India.
Recently the bank has also announced opening of 100 new branches in the country and installation of 750 ATMs during the current financial year.
Chandigarh currently has 34 Vijaya bank ATMs and another 8 ATMs will be operational before March 31. New branches of the bank are also coming up in neighbouring states like Kurukshetra, Jind, Rewari, Abohar, Ropar, Lalru, Nakodhar, Mandi and Una.