The Union Cabinet has given its in principle approval for capital infusion for three Public Sector General Insurance Companies, namely, Oriental Insurance Company (OICL), National Insurance Company (NICL) and United India Insurance Company (UIICL). The 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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