Cabinet Approves Capital Infusion for Public Sector General Insurance Firms (Download PDF)

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Cabinet Approves Capital Infusion for Public Sector General Insurance Firms

  • The Union cabinet has approved the capital infusion in three Public Sector General Insurance Company
    • Oriental Insurance Company Limited
    • National Insurance Company Limited
    • United India Insurance Company Limited
  • The capital infused is of overall value ₹ 12,450 crore.
Cabinet Approves Capital

Overview

  • ₹ 3,475 will be released immediately.
  • ₹ 6,475 will be infused later.
  • The process of merger has been ceased so far in view of the current scenario.
  • Instead, the focus shall be on their profitable growth.
  • The capital infusion will enable the three PSGICs
    • to improve their financial and solvency position
    • meet the insurance needs of the economy
    • absorb changes
    • enhance the capacity to raise the resources
    • improved risk management

- Published/Last Modified on: December 19, 2020

Economy, Govt. Schemes/Projects

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