Page 26 - Banking Finance October 017

PRESS RELEASE

Exide Life Insurance partners with Punjab & Maharashtra Co-

operative Bank

Exide Life Insurance today announced a partnership with Punjab & Maharashtra Co-operative Bank Ltd (PMC Bank) to
offer its protection and savings products to the customers of PMC bank. With this tie up, Exide Life Insurance consolidates
its leadership in the co-operative bank segment.

PMC Bank is a Multi-State Scheduled Urban Co-operative Bank with its area of operation in the States of Maharashtra,
Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh and Madhya Pradesh. In a span of 32 years, the Bank expanded its
network to 127 branches across six states. Its wide network will facilitate greater brand awareness for Exide Life Insurance
and the latter's stronghold in insurance portfolios will aid PMC Bank with higher customer engagement.
Commenting on the tie-up, Punjab & Maharashtra Co-operative Bank Limited Managing Director - Shri. Joy Thomas said,
"We are excited to collaborate with Exide Life Insurance and add their unique insurance plans to our existing set of
offerings. We believe that through this offering we will be able to add further value and enhance our savings and
investment offerings and provide a wide range of products for the customers. Such associations positively accelerate
business performance for both the entities. With the vast experience of Exide Life Insurance in this field, we found the
perfect partner to help us augment our customer base."
Speaking about the partnership, Mr. Kshitij Jain, Managing Director, Exide Life Insurance said, "Exide Life Insurance has
consistently focused over the years in the cooperative bank segment and today we work with approximately 50 Banks.
We are pleased with our partnership with Punjab & Maharashtra Co-operative Bank, one of the top 10 Multi-State
Scheduled Co-operative Banks of the country. This partnership will reiterate our position in the co-operative bank space
and provide the necessary impetus required to earn the trust of our customers."

United Bank of India Launches "Feluda" themed Personalized Debit

Card

United Platinum Moments Card is a new initiative of United Bank of India where Customers can choose the background
image of their Debit Card as per their choice.

This card helps the customer to customize the design
of his own card. This also helps to reduce the chance
of getting victimized of card swapping fraud where
the fraudsters targets primarily elderly customers
and exchanges the card with same design, and
withdraws money thereafter. In United Platinum
Moments Card, the customers may upload the
photograph of his choice or may select from
preloaded gallery. This card is the first ever such
customizable card built on India's indigenous
payment brand, RuPay.
A new Bengali taste has been added to the preloaded
gallery of Moments card by introducing iconic "Feluda" illustrations by Sri Satyajit Ray. Feluda is a bengali private investigator
starring in a series of Bengali novels of Indian fictional detective novels and short stories written by Indian Bengali film
director and writer Satyajit Ray. Now customers can choose from the preloaded "Feluda" illustrations as the background of
their Debit Card as per their choice. Sri Sandip Ray has kindly extended his support by allowing the bank to use 8 Feluda
illustrations to this initiative where the rich heritage of Bengali literature joins hand with the digital payments.

BANKING FINANCE | OCTOBER | 2017 | 25

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