Max New York Life Insurance entered into a pact with Indian Oil Corporation Ltd., or IOC, to promote insurance products through the latter's rural outlets, the media reported.
As per agreement, IOC would make available around 2,000 Kisan Seva Kendras across India to Max New York for the sale of insurance products to the rural masses.
Max New York Life Deputy Managing Director, Rajesh Sud, said in a statement that the company would set up offices at 100 such Kendras across four states including Punjab and Haryana to begin with. Subsequently, it will expand it to 2,000 outlets after ascertaining the initial feedback the company.
Besides, the company with the paid-up capital of Rs.1,232 crores plans to set up 100 rural branches during the year, which would be increased to 300 by the end of next year, the release stated.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.