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The bank was established through the amalgamation of erstwhile North Malabar and South Malabar Gramin Banks.
The new life insurance plan is available pan-India through the 5,500 branches of Canara Bank, HSBC,Oriental Bank of Commerce, Pragathi Gramin Bank, Shreyas Gramin Bank, South Malabar Gramin Bank and HSBCInvestDirect Securities (India) Limited.
Apart from the rural markets of the three main distributing banks, our tie up with three Rural Regional Banks (RRBs) - Pragathi Gramin Bank in Karnataka, Shreyas Gramin Bank in Uttar Pradesh and South Malabar Gramin Bank in Kerala has resulted in 23% of the total policies issued in FY 2010-11 from rural areas.