Corporation Bank launches new scheme

MANGALURU: Jai Kumar Garg, managing director and CEO of Corporation Bank launched group credit life insurance scheme of LIC of India, on Thursday at the bank's corporate office here. The scheme was launched by handing over insurance certificates to few beneficiaries of Mangaluru-Poonja Arcade branch of the bank. Garg said the scheme has been made available initially at all branches of Mangaluru zone,.

The group credit life insurance scheme is available to customers of the bank in the age-group of 18-60 years, who have availed term loan from the bank. It is a single premium group term insurance plan offering insurance cover to loan availed by the customer, in the event of unfortunate death of the borrower, Jai Kumar Garg explained.