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No proposal to merge public sector general insurance companies: MoS Karad
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The government on Tuesday said there is no proposal as of now to merge public sector general insurance companies. There are four general insurance companies — New India Assurance Company, National Insurance Company Limited (NICL), United India Insurance Company Limited (UIICL) and Oriental Insurance Company Limited (OICL).
In a written reply to the Rajya Sabha, Minister of State for Finance Bhagwat K Karad said there is no proposal under consideration of the government at present for merger of public sector general insurance companies.
In a bid to foster blockchain technology for providing various financial services, banks have put in place Indian Banks’ Blockchain Infrastructure Company Private Limited (IBBIC), Karad said in another written
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