Summary |
The important service sector of India are, electricity, banking telecommunication, railway and other transport and insurance. Insurance industry plays a dynamic role in providing one of the most vital services needed for the rapid growth of the nation. In India, the insurance sector was nationalized with an objective to reach the every corners of this country with insurance network, mobilize huge resources and lend peoples shoulders in the nation building. Insurance sector is considered one of the core service sector of Indian economy. In developing country like India the need for well established insurance industry is of paramount importance.
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