New banking bill gives RBI powers to restructure co-op banks

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New Delhi, Sep 14 | The new Banking Regulation (Amendment) Bill, 2020, introduced by the government on the first day of the Parliament’s Monsoon Session, provides the Reserve Bank of India (RBI) powers to restructure cooperative banks.

The Bill was introduced by Finance Minister Nirmala Sitharaman who earlier withdrew the bill introduced in March before Covid-19 disruptions set in.

“Now what we are bringing, after withdrawing that Bill which came in the form of ordinance, is essentially what the Bill of March 2020 had, together with a few things added in such as giving the Reserve Bank a chance to be able to restructure any distressed cooperative banks just in case they are in severe distress,” she said while replying to member’s question on the bill’s withdrawal and then its re-introduction.

The government had introduced a Banking Regulation (Amendment) Bill on March 3 and subsequently an ordinance was promulgated because it was not passed. The government’s rationale for the Ordinance was that there was stress in several cooperative banks that may have got enhanced during the period of lockdown.

“As a result of it, it was felt that till we clear the Bill, there should not be a situation where many of the cooperative banks would suffer and, therefore we brought in an ordinance with essential features of the Bill which was tabled in the House in March,” Sitharaman said.

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.

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