Digit Insurance launches comprehensive EV Shield add-on cover

Digit Insurance, a digital full-stack insurance company on Tuesday launched a comprehensive EV Shield add-on cover under its Motor Own Damage policy for four-wheeler and two-wheeler electric and hybrid vehicles. A specific add-on cover has been launched by Digit to meet this rising demand and address the unique insurance needs of EVs, the company said in a statement.

The add-on cover will come with three optional additional coverages to protect against any loss or damage to the electrical panel for the vehicle charging point, vehicle charger including charging cable, and also offer roadside assistance services specific to EVs, it said. Karnataka Bank and Clix Capital enter into a Co-Lending partnership Karnataka Bank and NBFC firm Clix Capital on Tuesday entered into a strategic digital co-lending partnership through Yubi Co.Lend Platform. This partnership is focused on providing loans to the Indian MSME sector which is one of the biggest contributors to India's GDP and employment growth, a joint statement said.

The agreement is in line with the Reserve Bank of India's guidelines on co-lending by banks and NBFCs to priority sectors, it said. The partnership combines Karnataka Bank's low cost of funds, end-to-end digital capabilities and expertise to offer credit facilities to this segment along with Clix Capital's strong & easy lending tech platform and robust due diligence. The partnership aims to provide seamless financing solutions, conveniently and economically in a digital manner, thereby enabling both the partners to draw upon each other's strengths to serve the unserved.