Aviva ties up with Suvidhaa for renewal payment acceptance service

Aviva Life Insurance has tied up with Suvidhaa to launch payment renewal service across 500 cities and 10,000 touch points in India

Aviva Life Insurance has tied up with Suvidhaa, pioneer of the Services Commerce (S-Commerce) revolution in India, to launch its new payment renewal service across 500 cities and 10,000 touch points.

Snehil Gambhir, director, operations & business excellence, Aviva Life Insurance said, "This new service will not only add to our services ecosystem and provide additional convenience to our customers for premium payments, it will also boost our persistency."

This service will provide Aviva customers a hassle free option to walk into any Suvidhaa outlet, provide some basic information for verification, and pay the renewal premium. Customers will also be given a receipt of their premium paid at the outlet. It will also provide them a secure transaction platform along with 24x7 call centre assistance from Suvidhaa.

Through this tie up, Aviva India will increase its customer touch points via a pan India outlet presence and will expand its alternate channel penetration for renewals apart from Aviva branches and various other alternatives.

In addition to the Suvidhaa outlets, Aviva customers can continue to choose to pay premiums through their credit card, online bank transfers, ECS facilities, Skypak dropboxes and at Aviva branches.

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Standard Chartered Bank picks up stake in United Stock Exchange

Standard Chartered Bank (Mauritius) has subscribed for around 3% stake in the United Stock Exchange

Standard Chartered Bank (Mauritius) Ltd has joined the shareholder base of United Stock Exchange of India Ltd (USE) by subscribing for approximately 3% stake in the exchange, in the process becoming the first foreign bank to invest in USE.

The USE currently operates in the currency derivatives space and offers currency futures in all the four currency pairs permitted by SEBI and is one of the only two stock exchanges in India to offer currency options on USD-INR currency pair.

The USE is India's newest stock exchange for currency derivatives. The exchange offers a better platform to corporates and SMEs for managing forex risk as spread rates in an exchange are better and it does not involve any counter party risk.
 

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Reliance Mutual Fund floats 91 days fixed horizon fund

Reliance Mutual Fund new issue closes on 22nd March

Reliance Mutual Fund has launched Reliance Fixed Horizon Fund-XVIII-Series 5, a close-ended income scheme.

The investment objective of the scheme is to generate regular returns and growth of capital by investing in a diversified portfolio of central and state government securities and other fixed income/debt securities maturing in line with the time profile of the scheme with the objective of limiting interest rate volatility. The tenor of the scheme is 91 days.

The new issue closes on 22nd March. The minimum investment amount is Rs5,000.

Crisil Short Term Bond Fund Index is the benchmark index. Amit Tripathi is the fund manager.

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