Solan bank gets licence from IRDAI

In a major milestone towards expanding its horizons, the Solan-based Jogindra Cooperative Bank has been licensed to undertake insurance work from the Insurance Regulatory and Development Authority of India (IRDAI). The bank sought applications from all renowned insurance companies of India and later, a memorandum of understanding was signed to execute the insurance work.

Jogindra Cooperative Bank Chairman Mukesh Sharma said the bank’s first agreement was executed in the key segment of health with a renowned company, Care Health Insurance, whose exposure extends to the rural areas of the country. The founder member of the company, Atul Sabarwal, signed an agreement with the bank here today.

The bank has now initiated all types of insurance services, including health insurance, to its customers. Care Health Insurance can also execute group insurance of all the employees in the corporate sector, said Sharma.”The bank which has zero non-performing asset has established itself as a reliable financial institution of the city. Availability of insurance services will further add to its growth,” he added.

On this occasion, Managing Director of the bank Pankaj Sood, Ranveer Rana, AGM Kuldeep Singh, Rampal, Gurmeet Singh, Bharat Bhushan and other senior officials were present.