LIC credit card

The Life Insurance Corporation of India is planning to enter the credit card business and a number of public sector banks are keen to pick up stakes in the proposed venture. The boards of Indian Overseas Bank and the Corporation Bank have cleared proposals to pick up stakes — 10 per cent and 18 per cent, respectively — in LIC’s credit card venture. The finance ministry has allowed the LIC to hold a 40 per cent stake in the venture.

Andhra account

Andhra Bank has launched a savings bank account called Jeevan Abhaya, providing group life insurance cover with accident death benefit. Any person in the age group of 18 to 55 years can open an account under the scheme and can get an insurance cover of Rs 1 lakh for natural death and Rs 2 lakh for accidental death. A depositor won’t need to undergo any medical check-up. The premium per person per annum will vary between Rs 216 and Rs 732 depending on the age of the depositor.

Tour package

Indian Railway Catering and Tourism Corporation will offer a south India tour package. The package, which includes services such as assured rail reservation, ticketing, package tours and hotel reservations, will be operated from Bangalore, Mumbai, Howrah and New Delhi to Kerala and Tamil Nadu.