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India: Planned move on banks' insurance brokering model worries central bank

May 5, 2014 - 6:00am

India's central bank has expressed discomfort over planned requirements that will see banks sell policies of all insurers instead only one insurer, reports The Indian Express.

Similar views have been echoed by the country's major banks, though the finance ministry and the insurance regulator support the move. A central bank panel said banks and their boards should have the choice of becoming a multiple corporate agent or a broker, the Indian daily reported.

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