Centurion Bank to foray into insurance
By Our Banking Bureau | 04 Jan 2005
1
Chennai:
Centurion Bank has received shareholders'' approval for
altering the "objects" clause in its Memorandum
of Association.
The alteration involved the inclusion of "bancassurance" among the businesses being done by the bank. The Insurance Regulatory and Development Authority has asked banks to incorporate this in their "objects" clause, if they are engaged in the business of insurance, either as principal or as a corporate agent.
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