Finance ministry asks Irda to make this and other changes while clearing these products.
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The firm is looking to raise as much as Rs 1,000 crore through short-term commercial paper.
The government had last week hinted that it was open to a review of the 25 per cent public shareholding norm, but as of now, the rules remain in force.
Air India, which this year preferred a consortium of private sector players led by Reliance General, had in fact started feeling the heat even before the crash took place.
The scaling down of the branch expansion plan is part of SBI's overall game plan to check costs.
The average deal size has gone up from $7 million in 2009 to $12 million this year.
The reinsurer expects total insurance cover to be around $500 million.
After reeling under losses for almost a decade, life insurance companies are now turning the tide. Four life insurers have, so far, posted profit, while three of them have brought down their losses.
At present, the rules do not allow the government to shed stake in the four public sector general insurance companies - New India Assurance, United India Insurance, National Insurance and Oriental Insurance.
After trying to reform unit-linked insurance plans (Ulips), the Insurance Regulatory and Development Authority (Irda) is now turning its attention to the protection of policyholders.
The Securities and Exchange Board of India (Sebi) has decided against filing a joint application before a court to resolve its dispute with the Insurance Regulatory and Development Authority over unit-linked insurance plans.
Several life insurance companies in the country are preparing to take on the markets regulator Securities and Exchange Board of India over unit-linked insurance plans.
With the Indian Premier League (IPL) story getting murkier, investigative agencies have cast their net wide to include banks. The idea is to dig out information about their financial exposure to the 10 IPL franchisees.
Firm offers no-pain switch from company cover.
With the economic turnaround now on a firm wicket, the Reserve Bank of India has made restructuring of debt by companies tougher.
A number of public sector banks will have to stock up on core capital, if the Reserve Bank of India decides to ask banks to leave out hybrid instruments while computing Tier-I capital adequacy, as indicated by RBI last week.
Savings bank account holders are a happier lot. The reason: They will earn more on their deposits from April. However, this isn't good news for banks, as their margins will come under pressure
Making non-life insurance claims is going to become more expensive in the new financial year.
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