Economy News-Daily Digest: 3 Key Updates
1. PNB MetLife in distribution pact with Bank of Bahrain and Kuwait
PNB MetLife has signed a corporate agency agreement with Bank of Bahrain and Kuwait B.S.C (BBK). This will allow PNB MetLife to distribute its retail and group products to BBK’s customers in India.
2. YES Bank’s fintech survey to study ecosystem worldwide
YES Bank is all set to launch a first-of-its-kind fintech survey. This survey will be called India Fintech Opportunities Review. It will cover India and a few major fintech markets in the world.
3. Air India gets Rs. 1,500 crore BoI loan
Bank of India has lent a loan worth Rs. 1,500 crore from Air India to meet urgent working capital needs.
Earlier, Air India had borrowed about Rs. 3,250 crore as short-tenure loans from two lenders-IndusInd Bank and Punjab National Bank.
This will be a research initiative of YES FINTECH, which is the bank’s innovation programme to accelerate fintech start-ups, the survey will cover more than 1,000 firms globally.