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SBI General Insurance, YES Bank sign corporate agency agreement

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General insurer SBI General and private sector bank YES Bank have signed a Corporate Agency Agreement for the distribution of retail products of the insurance company for the bank’s corporate and retail customers.

The products of SBI General Insurance Company will be offered to YES Bank’s customers across 28 states and 8 Union Territories.

SBI General has been associating with banks, payments apps, ecommerce players, brokers, etc. to strengthen its distribution footprint across the country. This partnership will offer customers a range of non-life insurance products and services and deploying technology across the customer value chain to facilitate superior experiences for them.

Commenting on the tie-up, Amar Joshi, Chief Business Officer, SBI General Insurance, said: “The tie-up will help us reach out to the last mile and serve untapped markets, thereby increasing insurance penetration.

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Covid 19 caused 78% MSMEs & startups in India to reduce workforce in the last 8 months: Survey

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Seventy-eight per cent MSMEs and startups in India have reduced workforce in the last 8 months since the Covid-19 pandemic broke out.
As per a survey by LocalCircles, only 22 per cent startups and MSMEs have the same or increased workforce as compared to the pre-Covid levels.

India’s startups and MSMEs ecosystem went through a torrid time due to the Covid-19 pandemic and the following lockdown. With revenues and operations getting impacted for most businesses, many end up cutting costs and some even shut down temporarily or permanently. Per CMIE, 6 million Indians had already lost white collar jobs in the March – August period.
LocalCircles conducted a survey to understand the startup and MSME pulse on their workforce adjustments due to Covid. The survey received over 7,000 responses from startups, MSMEs and entrepreneurs spread across 104 top business districts of the country.

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