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India: Central bank to issue guidelines on banks acting as insurance broker

January 6, 2014 - 6:00am

The Reserve Bank of India is soon likely to issue guidelines that would allow banks to act as insurance brokers permitting them to sell policies of multiple insurers, Business Standard reported.

Finance Minister P. Chidambaram said "banks will be permitted to act as insurance brokers so that the entire network of banks' branches will be utilized to increase penetration of insurance."

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