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Mar 06, 2013
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Finance ministry, RBI on different tracks
The finance minister's Budget proposal to allow banks to become insurance brokers comes at a time when the Reserve Bank of India (RBI) has cautioned against the move.While the Insurance Regulatory and Development Authority (Irda) is yet to finalise the regulations on this, banks aren't very optimistic. "We haven't really discussed it internally. We have not spent time in deciding whether we would be interested to act as insurance brokers. It is unlikely we will firm up our plans anytime soon," said a senior executive in charge of retail banking business at a large private bank.
Source -
http://www.business-standard.com
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