Andhra Bank gets Irda nod

Hyderabad-based Andhra Bank has received Insurance Regulatory and Development Authority (Irda) approval for its proposed insurance foray, said R S Reddy, chairman and managing director of the bank. The bank will enter the insurance sector to offer life insurance products in partnership with UK-based Legal and General and Bank of Baroda. The first-level approval has been accorded to us by the Irda and we are going ahead with the plans, Reddy said. Addressing the media after inaugurating the renovated zonal office, he said the bank has put in top gear its plans to ramp up branch network and ATM operations ...

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