:::::SRI S.B. RODE, OUR BELOVED PRESIDENT, AICBOF AND OFFICER DIRECTOR ON THE BOARD OF CENTRAL BANK OF INDIA HAS BEEN COOPTED AS GENERAL SECRETARY, AICBOF IN E.C. MTG. HELD AT MUMBAI ON 24.02.2014:::::MR. S.C. GUPTA, GEN. SECRETARY OF OUR AHMEDABAD UNIT HAS BEEN COOPTED AS PRESIDENT, AICBOF::::::WE CONGRATULATE THEM AND WISH THAT THE OFFICERS' MOVEMENT IN CENTRAL BANK OF INDIA WILL BE TAKEN TO NEW HEIGHTS:::::LONG LIVE CBOA:::::LONG LIVE AICBOF::::::LONG LIVE AIBOC:::::

BANKS MAY GET TO HAWK POLICIES OF MULTIPLE INSURERS

The Insurance Regulatory & Development Authority (IRDA) is expected to allow banks to sell insurance products of more than one service provider, allowing banks to retail insurance products and not just be one distributors for one insurer.

An IRDA official told to the Economic Times "The committee set up by the Insurance Sector watchdog to look into bancassurance, is giving final touches to its report."

At present, a Bank is allowed to act as an agent for only one life and one general insurer and bancassurance accounts for more than a quarter of the entire premium collected by the insurance industry.

Banks are expecting the commission to multiply manifold once they are allowed to sell products of various service providers. Rating agencies points out that this trend will help the banks to withstand fall in the income from lending operations.

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Banks-may-get-to-hawk-policies-of-multiple-insurers/articleshow/5345830.cms

Posted by C.B.O.A., A.P.

Labels:

0 comments

Post a Comment

Subscribe to: Post Comments (Atom)