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IRDA eases norms for investments in FDs

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October 31, 2013 11:48 IST | India Infoline News Service
The IRDA (Insurance Regulatory and Development Authority) on Wednesday relaxed norms for fixed deposit investments in the promoter group of insurance companies.

Considering the representations from the industry and the Life Insurance Council, we have decided to permit fixed deposits, as stated in the regulations, in promoter group scheduled banks within the 5 per cent limit prescribed for Promoter Group subject to the overall limits,” said the regulator.

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