Current Affairs   »   LIC ties up with Paytm to...

LIC ties up with Paytm to handle digital payments

LIC ties up with Paytm to handle digital payments_50.1

State-run Life Insurance Corporation of India (LIC) has appointed homegrown payments player Paytm to facilitate its digital payments. Following a tie-up with another payment gateway earlier, the country’s largest life insurer has sought a new deal as the majority of its payments have moved to digital modes.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The new agreement requires an easy payment process, a broader range of payment options, and more players (wallets, banks, etc) in payment channels. LIC has witnessed an upsurge in e-payments following the COVID-19 pandemic. The PSU insurer collects premiums worth Rs 60,000 crore via digital mode, which doesn’t comprise payments made through banks.

Important takeaways for all competitive exams:

  • LIC Chairperson: M R Kumar;
  • LIC Headquarters: Mumbai;
  • LIC Founded: 1 September 1956;
  • Paytm HQ: Noida, Uttar Pradesh;
  • Paytm Founder & CEO: Vijay Shekhar Sharma;
  • Paytm Founded: 2009.

Find More News Related to Agreements

LIC ties up with Paytm to handle digital payments_60.1

LIC ties up with Paytm to handle digital payments_70.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *