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Kotak Mahindra Bank to foray into general insurance business

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10 years ago

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Chennai: Private sector Kotak Mahindra Bank Ltd Tuesday announced its plans to enter the general insurance segment following the approval from Reserve Bank of India (RBI).

In a statement issued here, the bank said it has received the approval of RBI to form a subsidiary to enter the general insurance business.

The bank had earlier got the in-principle approval from Insurance Regulatory and Development Authority (IRDA) for incorporating a company to transact general insurance business.

“With the addition of general insurance business, Kotak Mahindra Group, with existing presence across banking, wealth management, life insurance, broking, mutual funds and private equity, will be able to offer the complete range of financial products and services to our retail and wholesale customers,” Gaurang Shah, president, asset management, insurance and international business at Kotak Mahindra Bank, was quoted as saying in the statement.

“The general insurance business in India is currently a Rs.77,000 crore premium per annum industry and is growing at a healthy rate of 17 percent,” he added.

According to the statement, Mahesh Balasubramanian has been named as the chief executive officer of the general insurance venture. He is currently executive vice president and co-head, branch banking at the Kotak Mahindra Bank.

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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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