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August 09, 2005 15:03 IST
Life Insurance Corporation is likely to come up with a co-branded card with Corporation Bank [Get Quote], which will offer policyholders the facility to pay premiums and carry out other transactions.
LIC [Get Quote] is talking to global card majors like Mastercard, Visa International and Barclays for the deal.
A K Shukla, chairman of LIC, confirmed the move, but said, "We will take a decision on this by month-end."
LIC is aiming at over 50 per cent increase in business from new policies at over Rs 18,000 crore (Rs 180 billion) this fiscal, and 30 per cent rise in overall income at over Rs 1,00,000 crore (Rs 1000 billion).
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