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Union Cabinet Gives In Principle Approval For Capital Infusion For Three Public Sector General Insurance Companies

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The Union Cabinet has given its in principle approval for capital infusion for three Public Sector General Insurance Companies, namely, Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL).

The Cabinet has allowed immediate release of Rs. 2500 Crore in the light of the critical financial position and breach of regulatory solvency requirements of 3 PSGICs viz. OICL, NICL and UIICL.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 13 2020. 09:44 IST
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