Punjab
National Bank, Vijaya Bank in pact with US company
Our
Banking Bureau
27 June 2003
 New
Delhi: Punjab National Bank (PNB), Principal Financial
Services Inc, USA, and Vijaya Bank have signed a memorandum
of understanding (MoU) to join hands for life insurance,
pensions and asset management business in India.
According
to a joint release issued here, the proposed venture will
look forward to harness strengths of three partners to
launch innovative products in all the three fields —
mutual funds, pension  and
insurance. The network of branches of PNB and Vijaya Bank
is expected to provide the necessary reach for marketing
the products offered.
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