Yes Bank inks MoU with AIC to distribute agri insurance products

New Delhi, Apr 11 (UNI) Yes Bank today entered into a memorandum of understanding (MoU) with Agriculture Insurance Company of India (AIC) for distribution of agriculture insurance products to its customers.

Under the MoU, Yes Bank will market AIC's agriculture insurance products including crop insurance products and weather derivatives to its customer base. The products will be offered across all Yes Bank branches in the country.

''AIC is playing a very crucial role in de-risking agriculture business. This alliance is another step forward in our commitment towards the agriculture sector, which is one of the sunrise sectors of the economy,'' Yes Bank Founder/Managing Director and CEO Rana Kapoor said.

He further added, ''This privileged partnership with AIC enables us to further enhance our product suite and offer more customised and holistic products to our clientele.'' AIC CMD M Parshad said, ''AIC plans to utilise the reach, expertise and knowledge of agriculture domain of Yes Bank to promote its crop insurance and other related products.'' UNI