Standard Chartered Plc's tie-up with Bajaj Allianz has reportedly nearly ended after the bank last week had signed an agreement with Prudential to sell its insurance products in more markets, including India. In India, a bank can sell the products of only one life, one non-life and one health insurance Company. This implies that Standard Chartered will have to terminate its pact with Bajaj Allianz to honour its new commitment.
Standard Chartered and UK-based insurer Prudential entered into a 15-year agreement on March 14.
Standard Chartered PLC was incorporated in England and Wales on November 18, 1969 and is registered as a public company pursuant to a merger of the Chartered Bank and The Standard Bank. Both banks were established in the mid-nineteenth century and their origins lie in financing trade in the emerging markets of Asia and Africa. The company changed its name from Standard Chartered Bank Public Company to Standard Chartered PLC on January 1, 1985.
Company Name | CMP |
---|---|
HDFC Bank | 1517.05 |
ICICI Bank | 1149.90 |
Axis Bank | 1166.15 |
Indusind Bank | 1515.60 |
Kotak Mahindra Bank | 1623.75 |
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