The Hindu Business Line : Kotak Life looking for rural tie-ups

Kotak Life Insurance is looking at roping in co-operative banks, primary agricultural co-operative societies (PACS), NGOs and self-help groups to sell its products in the rural areas. "We are planning to have rural tie-ups for distributing our policies," Mr Gaurang Shah, Managing Director, said.

The company already had tie-ups with 24 urban co-operative banks to distribute its products. Addressing a press conference here on Friday, he said the company found non-governmental organisations as the right channels. "We do have credible intermediaries in such NGOs," he said. Mr Shah was here in connection with the launch of company's 63rd branch and the third in Hyderabad at Himayatnagar. "We are going to open branches in Vijayawada and Visakhapatnam in the next few months," he said.

"We are going to infuse Rs 20 crore to raise the capital to Rs 360 crore by the end of the fiscal," Mr Shah added.

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