LIC Credit Card: Documents | Eligibility | Information
LIC Credit Card: Lic of India the world number 1 insurance company has just come in to credit card business along with its channel partner Axis Bank. LIC of India has more than 1 million agents and 2048 branches in India to sell its LIC Policy and and other products like LIC credit card etc.
Life Insurance Corporation of India will enter into a joint venture to launch its credit card business. Life Insurance Corporation of India (LIC), LIC Card Services – A Credit Card company will be setup in compliance with RBI regulations.
About LIC Credit Cards:
LIC Credit Cards is a partnership between LIC Cards Services Limited (LIC CSL) and Axis Bank Ltd.
LIC Cards Services Limited came into existence on 11th November, 2008 as a 100% subsidiary of LIC to bring out its own Credit Card in the market. The Company has its registered office at Jeevan Prakash Building, 6th floor, 25. K.G. Road, New Delhi-110001.
LIC has more than Rs. 8 Lakh Crore worth of assets and over 23 crore policies in force. LIC has invested over Rs. 80,000 Crore in people welfare. Over the years, LIC has become a synonym for life insurance in India and a financial conglomerate. It has 2048 branch offices and more than 550 Satellite Sampark offices networked through WAN with 1.10 million agents across the country.
Axis Bank
Axis Bank was one of the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI – I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank as on 31st March, 2011 is capitalised to the extent of Rs. 410.54 Crore with the public holding (other than promoters and GDRs) at 53.60%. The Bank’s registered office is in Ahmedabad and its central office is located in Mumbai. The Bank has a very wide network of more than1281 branches (including 169 Service Branches/CPCs as on 31st March, 2011). The Bank has a network of over 6270 ATMs (as on 31st March, 2011) providing 24 hrs banking convenience to its customers. They have one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.
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