Hyderabad: SBI Life is planning to increase its operations in the rural and semi-urban areas by better utilisation of State Bank of India (SBI) branch network and increasing the number of agents. They want to make a substantial difference in our rural reach by doubling the number of agents by 2008-09 (from current 34,000) and fuller-utilisation of SBI branch network in rural areas. SBI Life will unveil a health product in the first quarter of the next fiscal and implement direct payment of premium through core banking network from May. The company, which earned a profit of Rs 37.74 crore at the end of December 31, 2007 by wiping out all accumulated losses, is planning to foray the micro insurance sector in Andhra Pradesh. They have implemented a pilot micro insurance project, Grameenn Shakti, in Bhubaneswar for Self Help Groups (SHGs) in December, 2007 and give life cover to 2.5 lakh women.
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