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State join hands with US based insurance co
Published on 15 Mar. 2009 12:49 AM IST
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Nagaland State Co-operative Bank Ltd., the flagship bank for the people of Nagaland tied up with Metlife India Insurance Co. Ltd. for marketing various life insurance products to its esteem clients. The bank-assurance proposal received from Metlife Insurance Co. Ltd. was critically examined by the bank and was finally approved by the chairman of the bank, principal secretary & financial commissioner, government of Nagaland Toshi Aier IAS. Managing director, Nagaland State Co-operative Bank Ltd B K. Thadani stated in a press note that in this venture, with the above arrangement, the bank is expected to earn a sizable amount by way of offering the use of bank branch premises to the company without involving any exchequer and liability. Metlife's products would be available at all twenty one branches of the bank spread over the state. The products would meet the requirements of the rural as well as the urban people, at the same time; bank’s customers can invest in various market linked products, guaranteed bonus products, rural products. Customers would also be able to cover their loans also now onwards to meet the uncertainties like death. Nagaland State Co-operative Bank, committed to the people of the Nagaland has ensured it would meet the need of investment and life insurance as customers need not go to the other insurer to meet their insurance linked needs. Metlife's local sales staff would advise bank customers for their tax and financial needs, normal banking services to the people of Nagaland, apart from continuing its lending programme for development of agriculture and allied agricultural sectors through Cooperative Societies as well as to individual KCC holders and members of SHGs. The credit needs of the educated unemployed youths would also be met by the bank under chief minister’s corpus fund (CMCF) and the bank solicits active support and patronization from all quarters to make it an innovative and undisputed leadership organization.

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