Insurance sector regulator IRDA is evaluating fresh norms for - TopicsExpress

Insurance sector regulator IRDA is evaluating fresh norms for banks to act as intermediaries for insurers, following recent changes in law brought through an ordinance by the government. This follows RBIs decision last week to allow banks to act as brokers for insurers, set up their own subsidiaries and also undertake referral services for multiple companies. RBI said that they can act as corporate agents without seeking prior approval from the RBI, but they will have to comply with the applicable IRDA guidelines.

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