Explain the following statements in brief on the point of reasoning: (iv) Banks are entered insurance sector in a Big Way.
CS Professional · Banking - Law & Practice · PYQS · December 2021
Explain the following statements in brief on the point of reasoning: (iv) Banks are entered insurance sector in a Big Way.
Answer & Explanation:
It is a move towards Universal Banking. Since an insignificant level of population is covered, huge potential exists for insurance business. Brand Equity/Network/Workforce can be optimally utilized for higher profits. It enables service under one roof to their customer. It enhances earnings of the Bank.
Topics: Banking Sector
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