IRDA eases norms for investments in FDs

India Infoline News Service | Mumbai |

NA

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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