Business briefs

Bank of India (BOI) on Friday said it has inaugurated nine new zones and two new National Banking Group (NBG) offices.

The new zones are located in Barasat (West Bengal), Baripada (Odisha), Siwan and Gaya (Bihar), Gorakhpur and Hardoi (Uttar Pradesh), Delhi-NCR, Dhar (Madhya Pradesh) and Thiruvananthapuram (Kerala).

The bank is setting up two new NBG offices in Chandigarh and Hyderabad which will be headed by general managers, as per a release.

*** Bank of Maharashtra organises fintech mahotsav * State-run Bank of Maharashtra has organised a fintech mahotsav at its head office in Pune to give fillip to its digital banking channels.

Many technology firms have been invited to showcase their banking solutions for the 13-day long event, started on Friday, a release said.

Eight fintech companies - Easebuzz, Gnani innovations Pvt. Ltd, My Lead, One Card, Satsure, Schools Guide, Signzy Technologies Pvt. Ltd and Loan Tap (Cyborg Intel) participated on the first day of the event.

The bank's Managing Director and CEO A S Rajeev and executive directors A B Vijayakumar and Asheesh Pandey were present at the event.

*** Aegon Life, Ahalia Finforex partner to offer life insurance * Aegon Life has partnered with Ahalia Finforex, a Kerala-based financial services firm, to provide life insurance access to the unorganised and unserved segments residing in Tier 2, Tier 3, and Tier 4 towns.

Under the partnership, insurance coverage to over 5 lakh Ahalia customers will be provided through the insurer's group credit life product, a release said.

It allows borrowers to access loans without putting an undue financial burden on their dependents.

In the event of the borrower's death, the insurer protects their family from loan repayment with the insurance covering the loan amount, it added.