Dehradun District Cooperative Bank of Uttarakhand has tied-up with Kotak Mahindra Insurance to sell insurance products among its customers.
The news was shared by the Bank Chairman Amit Shah Rinku. “For generating the income opportunity and to give risk cover, we have tied-up with Kotak Mahindra. We are also in the process of making mandatory a risk cover up to Rs 3 lakh”, Rinku said.
“We are having 70 thousand account holders. Earlier we had DHFL life insurance as our partner but given their higher premium we had no choice but to tie-up with Kotak Mahindra. The latter has promised speedy settlement of claims”, he said to this correspondent on the phone.
Dehradun District Cooperative Bank has a business mix of around Rs 850 crore and 23 branches in different cities of Uttarakhand. Around 39 PACCs are connected with the bank as members.