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Insurers likely to invest in proposed ETF

The objective is to allow the government to attract huge funds of insurers

July 30, 2013 3:44 IST | India Infoline News Service
The finance ministry said that IRDA (Insurance Regulatory and Development Authority) will soon notify the proposed central public sector enterprises-exchange traded fund as an investment product for insurers, according to a media report.

The objective is to allow the government to attract huge funds of insurers and ensure long-term investments through the ETF route, the report added.

The proposed ETF, which will comprise shares of listed public sector units, will be another tool the government can use to meet its disinvestment objective, which for the current fiscal is Rs. 400 billion.

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