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India: Government stability agency to review bank-insurance brokers issue

May 12, 2014 - 6:00am

An official from the Indian Finance Ministry has told The Economic Times that the issue of whether banks should act as insurance brokers has been referred to the Financial Stability and Development Council, Asia Insurance Review reported.

The FSDC supervises inter-agency coordination in India.

India's Finance Minister had previously said lenders would be permitted to act as insurance brokers, a move that experts believe could help strengthen insurance coverage in India.

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