By Seela Subba Rao Prior to 2003, banks were not allowed to take up ‘insurance’ as a permissible form of business. Subsequently, they were permitted to undertake referral activities such as insurance business. Consequent to the announcement by the then Finance Minister in the Budget speech 2013-14 to permit banks as insurance brokers, the Reserve […]
Monitoring would be much more effective since they would become part of the bank and come under the direct control of the management of the sponsor banks.