The collaboration between Magma HDI General Insurance and Suryoday Small Finance Bank aims to enhance access to health insurance, particularly in rural areas where Suryoday Bank holds a significant presence.
Federal Bank, a private sector bank, reported a 20% year-on-year growth in gross advances, reaching Rs 2.13 lakh crore by March 31, 2024, compared to Rs 1.77 lakh crore a year earlier. The bank s retail credit book expanded by 25%, while the wholesale credit book grew by 15%, resulting in a retail loan to wholesale loan ratio of 56:44. Additionally, the bank s total deposits increased by 18% to Rs 2.53 lakh crore from Rs 2.13 lakh crore as of March 31, 2023.
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Hyderabad : Magma HDI General Insurance Company, a prominent player in India’s general insurance sector and Suryoday Small Finance Bank, one of the fastest-growing small finance banks in India, have entered into a Corporate Agency Agreement to offer health insurance to Suryoday Bank’s Commercial Vehicle Loan customers. This strategic collaboration aims to bridge the health insurance accessibility…