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Bank of Rajasthan to foray into insurance

NEW DELHI MAY 8. Bank of Rajasthan is all set to foray into insurance in the next three years as part of its diversification plan. Having received permission from the Reserve Bank of India, Bank of Rajasthan would open 19 new branches in a bid to broadbase its operations.

"Over the next three years, the bank has ambitious plans to start its own insurance subsidiary, increase the net worth to over Rs. 500 crores from Rs. 233 crores and network of 365 branches and 500 extension counters," the bank said.

The bank's intention was to extend life insurance, mutual funds, depository and foreign exchange services at all its major branches and make all the branches on-line compared to 103 on-line branches.

— PTI

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