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India: Banks to set up group to study insurance broking model

January 30, 2014 - 6:00am

Banks in India will soon form a group of experts to study the insurance broking model set out by the finance ministry, Business Standard reports.

Indian Banks' Association chief K.R. Kamath said banks would set up the group with representatives from banks, insurers, the insurance regulator and the central bank to hammer out "an acceptable solution." The finance ministry's model is aimed at increasing insurance penetration in the country.

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