Comments
IRDAI Chairman Subhash Chandra Khuntia on Friday said the insurance regulator has the power to relax the investment limit in specific cases, where justified.
"Life Insurance Corporation of India had sought interest of business expansion. It is not a blanket relaxation to all insurers," Khuntia told reporters in the sidelines of an Assocham insurance conference.
Khuntia said LIC has been asked to safeguard the interest of policyholders. He also said that IRDAI will soon give LIC a timeline to reduce it shareholding in IDBI Bank to 15 per cent.
The LIC board had on Monday worked out the timeline for its proposed acquisition of 51 per cent stake in IDBI Bank.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.