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Cabinet okays capital infusion for OICL, NICL & UIICL

Published: Feb 12, 2020

By TIOLCORPLAWS News Service

NEW DELHI, FEB 12, 2020: THE Union Cabinet has given its in principle approval for capital infusion for three Public Sector General Insurance Companies, namely, Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL).

In view of the above, Cabinet has allowed immediate release of Rs. 2500 Crore in the light of the critical financial position and breach of regulatory solvency requirements of 3 PSGICs viz. OICL, NICL and UIICL.

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