Corporate Reporter

CHENNAI: Oriental Insurance Company (OICL) and Punjab National Bank on Monday launched ‘PNB-oriental Royal Mediclaim Policy', exclusively for the bank customers.

Addressing presspersons here OICL Deputy General Manager G. Anandan said the policy would cover the entire family under one sum insured under one policy. No medical examination was required for entry at any age up to 80 years. The cover was available from Rs. 1 lakh and up to Rs. 5 lakh and the premium payable for Rs. 1 lakh was Rs. 1,717, he said.

According to PNB Executive Director Nagesh Pydah, the policy with lowest premium, would be helpful for the bank which had a customer base 5.6 crore.

The bank was planning to establish one lakh touch points in unbanked villages by 2013 to reach more customers with this product, he added.

On international presence, he said the intention was to establish branches where other banks were not present. The bank was pursuing upgradation of its representative offices in China and Norway and in the process of setting up representative offices one each in Sydney and Australia. The bank has presence in nine countries.