According to the agreement signed here today, all e life insurance products of Canara HSBC Oriental Bank of Commerce Life Insurance would be made available to customers of Dhanlaxmi Bank and would be sold by licensed staff of the bank.
Dhanlaxmi Bank is having a network of 260 branches and 371 ATMs covering 129 cities across India in 15 states and one union territory and a customer base of over two million.
As part of the agreement, the bank will be a Corporate Agent for three years.However, both aim to continue this relationship for long term, a release said.
He said last year the company's business recorded a growth rate of a 40 per cent.
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"Year prior to that we grew by of 38 per cent. So we have seen two consecutive years where the growth has been in the range of 40 per cent. In this quarter, in the first quarter, we have seen growth of 50 per cent," he told reporters here.
"With this customers of Dhanlaxmi Bank will get access to bouquet of products which would cover their core financial needs and deliver good value through the range of solutions that the company offers," he said.