Latest News | Business Briefs Tata AIA Life Adding 100 New Digitally-enabled Distribution Branches

New Delhi, Oct 25 (PTI) Tata AIA Life Insurance (Tata AIA Life) on Monday said it is adding 100 new digitally enabled distribution branches to its network by November, to help expand its reach in states including Maharashtra, Uttar Pradesh and West Bengal.

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The insurer started deploying these branches from October this year.

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These new branches will expand the company's distribution reach in over 18 Indian states, especially Maharashtra, Gujarat, Rajasthan, Uttar Pradesh, and West Bengal.

Over 60 of the 100 new digitally enabled branches have already begun operations, with the remaining to become operational by end of November 2021, a company release said.

* * * * * * Aye Finance to open 100 new centres by Nov *

MSME-focussed fintech lender Aye Finance on Monday announced to open 100 new centres by November 2021 taking its geographical footprint to 311 centres in 20 states.

Aye has been rapidly expanding its footprint to ensure affordable credit is accessible to the historically excluded segment of micro enterprises.

The company said it has been transforming micro enterprise lending in India since 2014. Since then, it has brought over 3,00,000 micro enterprises into the folds of organized lending having disbursed Rs 4,000 crore to the sector, it said in a release.

"With the opening of these additional 100 centres, of which 55 have already been operationalized, the number of clusters we serve along with the number of micro enterprises funded will go up significantly," Samir Mehta, Deputy CEO, Aye Finance said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)