Karnataka Vikas Grameena Bank (KVGB), a leading regional rural bank with 629 branches, has signed a memorandum of understanding (MoU) with Liberty General Insurance Co. Ltd. for selling general insurance products through its branches.
In a formal ceremony held in Dharwad on Tuesday, General Manager of KVG Bank Chandrashekar D. Moro and Senior Vice-President of Liberty General Insurance Manish Kotian signed and exchanged the MoU in the presence of Chairman of the bank P. Gopi Krishna.
Speaking on the occasion, Mr. Gopi Krishna said that considering the huge potential in the general insurance sector, the bank had entered into an MoU with Liberty General Insurance.
“As per the MoU terms, the company will provide a variety of general health insurance products such as personal accident, car and two-wheeler insurance, employee compensation insurance, commercial insurance, fire and engineering insurance and health and other miscellaneous insurance products with reasonably affordable cost. The bank is consistently enhancing its portfolio to meet the diverse financial needs of its customers and this alliance is a step in that direction,” he said.
Mr. Manish Kotian said that KVG Bank termed the MoU as an important milestone in the company’s journey of offering its leading products through a trusted partner to a crucial segment. The alliance with the bank will spearhead the company’s expansion in the State, he added.
Bank officials P. Srinivas Rao, S.S. Manur and Praveen T.S. and Kalyan Revanur of Liberty General Insurance and others were present.
