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CURRENT AFFAIRS
Description
Arka Fincap Limited, a subsidiary of Kirloskar Oil Engines Limited, has been granted a Corporate Agency License by the IRDAI, marking a key milestone. This license enables Arka to enter the insurance distribution market, expanding its existing financial solutions portfolio to fully meet consumer needs.
Diversification Opportunity
This move enables Arka Fincap to enhance its product line by entering the insurance industry to capitalize on emerging opportunities while remaining true to its core philosophy of being customer-centric.
Empowering Customers For Sustainable Growth
Vimal Bhandari, Executive Vice Chairman & CEO, shares his enthusiasm at the achievement, emphasizing the company's dedication to innovation and long-term success. The addition of insurance options seeks to drive long-term growth for both clients and stakeholders.
Adaptation In A Dynamic Market
Navin Saini, corporate Head - Retail SME & MSME, emphasizes the value of adaptability in today's corporate environment. Arka's introduction into insurance distribution demonstrates its willingness to embrace change and seek new opportunities to remain competitive.
About Arka Fincap
Arka Fincap Limited, a digitally enabled NBFC, specialized in delivering secure and unsecured finance solutions to a variety of industries. With a strong AUM and a widespread presence in India, the company hopes to accelerate its expansion with the addition of insurance solutions.
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