LIC inks pact with Corporation Bank for credit card biz

MUMBAI: Life Insurance Corporation of India (LIC) has entered into an agreement with state-owned Corporation Bank to launch credit cards.

LIC plans to launch the business through its wholly owned subsidiary, LIC Cards Services Limited, and would leverage the pan-India presence of both organisations for the service roll out, LIC said in a press release issued here on Wednesday.

Through this venture LIC plans to offer premium-payment facility to policyholders with their own credit card, the company said.