Insurers to seek IRDAI clarity on banks holding stake in sector companies – Money Control

Insurers to seek IRDAI clarity on banks holding stake in sector companies – Money Control

Life and general insurance companies are planning to seek a clarification from the insurance regulator on its position on bank-led firms. Reserve Bank of India (RBI) has in the past expressed discomfort over banks holding large stakes in insurance companies. With a majority of insurance companies having banks as promoters and investors, we want a clarity from Insurance Regulatory and Development Authority of India (IRDAI) on their stand on this issue,” said the chief executive of a large private life insurance firm.

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