Insurance Regulatory and Development Authority of India (Irdai) Chairman Debasish Panda’s announcement that the regulator was exploring the possibility of creating a state insurance plan similar to the state-level bankers’ committees (SLBCs) could be a useful step towards bringing larger numbers of Indians within the purview of the insurance industry. The SLBC concept, introduced in 1977 under the aegis of the Reserve Bank of India (RBI), is an inter-institutional forum at state level to enable coordination between the government and banks on issues concerning banking development. These apex inter-institutional forums meet every quarter and are chaired by the chairperson or