Business Daily from THE HINDU group of publications
Monday, Mar 03, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Mar 03, 2008 ePaper | Mobile/PDA Version |
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Money & Banking
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General Insurance Plea to merge 4 PSU insurers Tiruchi, March 2 The South Zone of the General Insurance Employees' All India Association has urged the Centre to merge the four major insurance companies in order to strengthen the insurance sector, to meet the growing challenges being thrown by the private players. A resolution adopted at its general conference held here referred to the recommendations of the Malhotra Committee and others and said that floating a general insurance company, by merging the four firms - New India Assurance Company, National Insurance Company, United India Insurance Company and the Oriental Insurance Company - would go a long way in meeting the current needs. The conference, through a resolution, condemned the Foreign Direct Investment (FDI) in the insurance and banking sectors. Terming FDI as `anti-national', the resolution said that the Centre's policy posed a serious challenge to the country's economic policy of selfreliance. - Our Correspondent
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