Capital infusion of Rs 2,500 cr in 3 general insurance cos gets Cabinet nod

The Union Cupboard on Wednesday accepted a proposal for money infusion and speedy release of Rs 2,500 crore for 3 general public sector providers on account of their vital fiscal situations.

The decision arrived following United India Insurance coverage, National Insurance coverage Enterprise and Oriental Insurance coverage Enterprise breached the regulatory solvency specifications.

“The Cupboard approves the proposal for money infusion and speedy release of Rs 2,500 crore for 3 general public sector normal insurance providers in the mild of the vital fiscal place and breach of regulatory solvency specifications,” an formal statement reported.

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