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AU Small Finance Bank and LIC Tie Up for Life Cover

2 July 20251 min read
BANKING & FINANCEAU Small FinanceBank and LIC TieUp for Life Cover2 July 2025safalsetu.com

Why in the news

On 2 July 2025 AU SFB teamed up with LIC to carry life covers to rural and semi-urban customers.

Key facts

  • Range on offer: term, endowment, whole life, pension and annuity, and child plans.
  • For AU, it moves the bank towards a full-spectrum financial services role; for LIC, it opens AU’s rural reach.

About AU SFB

  • Scheduled commercial bank led by MD and CEO Sanjay Agarwal.
  • Over 1.13 crore customers as of 31 March 2025.

Exam angle

  • Partner insurer: LIC; vision: Insurance for All by 2047.

Test yourself

1. AU Small Finance Bank partnered with which insurer in July 2025 to distribute life insurance products?

The notes state AU SFB tied up with Life Insurance Corporation of India on 2 July 2025.

2. The AU SFB and LIC partnership supports which national vision?

It backs the 'Insurance for All by 2047' vision for underserved regions.

3. Who founded AU Small Finance Bank in 1996 and serves as its MD and CEO?

AU SFB was founded in 1996 by Sanjay Agarwal, who is MD and CEO.

This topic is part of Daily Current Affairs 2 July 2025 (15 topics).

All topics of the dayDay quizJuly 2025

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