The uncertainties created by the COVID-19 pandemic and the initiatives taken by the Insurance Regulatory and Development Authority of India (IRDAI) are prompting more and more people to obtain insurance cover and provide financial backup to their families in these uncertain times.The uncertainties created by the COVID-19 pandemic and the initiatives taken by the Insurance Regulatory and Development Authority of India (IRDAI) are prompting more and more people to obtain insurance cover and provide financial backup to their families in these uncertain times.
According to SBI Chairman Rajnish Kumar, the focus of the Delhi-based division will be community service, financial inclusion and running government-sponsored schemes. The new office of the vertical inaugurated by the SBI chairman will be headed by Deputy Managing Director Sanjeev Nautiyal.
Personal loans continued to perform well registering a growth of 11.2 per cent as compared with 17 per cent growth in July 2019. Within this sector, vehicle loans registered accelerated growth of 8.1 per cent in July 2020 as compared with the growth of 4.9 per cent in the corresponding month of the previous year, according to the data.