The News Scroll 04 October 2017  Last Updated at 3:38 pm | Source: PTI

AU Small Finance Bank to partner Aditya Birla Health Insurance

AU Small Finance Bank to partner Aditya Birla Health Insurance

New Delhi, Oct 4 Au Small Finance Bank will sell health insurance products of Aditya Birla Health Insurance as part of a corporate agency tie-up agreement.

"The Bank (Au Small Finance Bank) has entered into agreement with Aditya Birla Health Insurance Company Ltd (ABHICL) to act as a corporate agent for health insurance business," the bank said in a regulatory filing.

Au said this tie-up will be beneficial for both the companies mutually in terms of business, market penetration as well as reach.

The AU Small Finance Bank provides services such as savings and current account, term deposit, debt card, insurance, retail loans as well as wholesale banking.

Initially a non-banking finance company (NBFC)- Au Financiers-- based in Jaipur, Au transformed into the role of a SFB as Au Small Finance Bank (SFB) after getting licence from Reserve Bank (RBI) in December 2016.

It commenced the small finance banking operations in April this year and later in July hit the stock market in an initial public offer (IPO).

In the first quarter ended June of the current fiscal, company's net profit grew by 4.6 per cent to Rs 61.83 crore, as against Rs 59.08 crore in the same period year ago.

The total assets, as on June 30, 2017 stood at Rs 10,972.83 crore.

Shares of the company were trading at Rs 562.40, down 0.27 per cent on BSE in the afternoon today.

New Delhi, Oct 4 Logistics firm Tiger Logistics has reported a 19 per cent jump in net profit to Rs 1.95 crore in the first quarter ended June 30.

The company had clocked a net profit of Rs 1.64 crore in the year-ago quarter, the firm said in BSE filing.

During the April-June quarter, total income of the company also grew to Rs 69 crore from Rs 54 in same period a year ago, it said.

Shares of the company today ended 0.77 per cent up at Rs 162.95 apiece on BSE.

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Barabanki (UP): As many as 350 households in a village in the district have been provided solar home lighting systems by 'Spreading Happiness InDiya Foundation' (SHIF) - a collaboration between cricketing icon Sachin Tendulkar and Schneider Electric India.

The SHIF said in a release that the foundation is committed to provide energy autonomy to rural India through renewable energy and spreading happiness by providing access to power.

The foundation is committed to providing electricity to around 25,000 households in the country in tandem with the central government's target to provide power for all by 2022, the release said.

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New Delhi: Infotainment broadcaster Discovery Communications India today said it has appointed Geetanjali Bhattacharji as Head of Brand Partnerships & Content Integration.

In her new role, she will focus on creating engaging content partnerships with brands by drawing synergies between brand purpose and Discovery's content line-up across its portfolio of channels, including the upcoming Discovery JEET.

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Indian Direct Selling Association (IDSA) has announced its new Executive Committee, and Oriflame India Director Corporate Affairs Vivek Katoch has taken over as the new Chairman of the association.

Herbalife Head Worldwide Regulatory, Government & Industry Affairs Rini Sanyal has been elected as the new Vice-Chairperson of IDSA.

As per the recent changes, the elected members of the Executive Committee of IDSA will hold office for a period of two years.

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India's leading direct seller Amway has launched its revamped body care collection in India under the G&H Brand to stay abreast with the rapidly changing consumers' need and competitive in the market.

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TataSky will start the second edition of its Mumbai Film Festival in which the direct to home platform would beam acclaimed 30 movies in October-November to its subscribers.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
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