Finance Minister Nirmala Sitharaman has said the government would move forward on the merger of the three state-run general insurance companies as announced in the previous Budget.
“This was a Budget announcement and I will be moving forward on that”, she said in a media interaction.
The proposed merger of National Insurance Co. Ltd., United India Insurance Co. Ltd. and Oriental Insurance Co. Ltd. has not been able to move forward due to their weak financial position, official sources said.
The Budget for 2018-19 had proposed their merger and subsequent listing the merged entity on stock exchanges.
“Citing weak financial ...
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