Partnership30 Apr 2026, 05:21 pm
Canara HSBC Life enters Corporate Agency Agreement with West Bengal Gramin Bank
AI Summary
Canara HSBC Life Insurance Company Ltd. has executed a Corporate Agency Agreement with West Bengal Gramin Bank on April 30, 2026. This agreement enables West Bengal Gramin Bank, a Regional Rural Bank licensed by the RBI and an associate of Punjab National Bank, to distribute Canara HSBC Life's insurance products. The Company will pay commission to the bank according to its Board-approved policy. The filing clarifies that there is no shareholding by Canara HSBC Life in the bank, no special rights, and the transaction does not fall under related party transactions.
Key Highlights
- Canara HSBC Life signed a Corporate Agency Agreement on April 30, 2026.
- West Bengal Gramin Bank will distribute the company's insurance products.
- Commission will be paid as per Board-approved policy.
- No shareholding or special rights are involved in the agreement.
- West Bengal Gramin Bank is an associate of Punjab National Bank.