Summary |
In furtherance of the initiatives in the area of financial reforms covering the banking system and the capital markets aimed at creating a more efficient and competitive financial system suitable for the requirements of the economy keeping in mind structural changes currently underway, and recognising that insurance is an important part of the overall financial system where it was necessary to address the need for similar reforms, the Government of India appointed a Committee on Reforms in the Insurance Sector in April 1993.
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