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This is an archive article published on February 12, 2004

NBFC entry into insurance

The RBI has permitted registered non-banking finance companies NBFCs to take up insurance agency business on fee basis and without risk pa...

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The RBI has permitted registered non-banking finance companies NBFCs to take up insurance agency business on fee basis and without risk participation, without its approval subject to certain conditions. RBI said such NBFCs should obtain permission from IRDA and comply with the IRDA regulations for acting as 8216;8216;composite corporate agent8217;8217; with insurance companies.

 

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