{"id":225510,"date":"2020-02-12T17:30:42","date_gmt":"2020-02-12T12:00:42","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=225510"},"modified":"2020-02-12T16:21:42","modified_gmt":"2020-02-12T10:51:42","slug":"cabinet-approves-proposal-for-capital-infusion-for-oicl-nicl-and-uiicl","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/02\/12\/cabinet-approves-proposal-for-capital-infusion-for-oicl-nicl-and-uiicl\/","title":{"rendered":"Cabinet approves proposal for capital infusion for OICL, NICL and UIICL"},"content":{"rendered":"

Union Cabinet has given its in-principle approval for capital infusion for three Public Sector General Insurance Companies, namely, Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL).<\/p>\n

In view of the above, Cabinet has allowed the 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.<\/p>\n

\n

Cabinet<\/span><\/p>\n

[Source: PIB]<\/span><\/p>\n

[Press Release <\/span>dt. 12-02-2020]<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Union Cabinet has given its in-principle approval for capital infusion for three Public Sector General Insurance Companies, namely, Oriental Insurance Company Limited <\/p>\n","protected":false},"author":8808,"featured_media":209514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29535,4],"tags":[30554,39588,39587],"class_list":["post-225510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet_decisions","category-legislationupdates","tag-cabinet","tag-capital-infusion","tag-public-sector-general-insurance-companies"],"yoast_head":"\nCabinet approves proposal for capital infusion for OICL, NICL and UIICL | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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The Ordinance aims to amend the Insurance Act, 1938, the General Insurance Business (Nationalisation) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999, in accordance with the Insurance Laws (Amendment) Bill 2008. The\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/appoointment.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/appoointment.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/appoointment.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/appoointment.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/10\/appoointment.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":222414,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/22\/cabinet-approves-initiatives-to-revive-the-construction-sector\/","url_meta":{"origin":225510,"position":4},"title":"Cabinet approves initiatives to revive the Construction Sector","author":"Bhumika Indulia","date":"November 22, 2019","format":false,"excerpt":"The Cabinet Committee on Economic Affairs approved certain measures for the effective implementation of the CCEA's decision of 31 August 2016 on Initiatives to revive the Construction Sector'. Following proposals put forward by NITI Aayog with respect to the arbitrations by\/against Government Entities were approved: (i)\u00a0 Government Entities will take\u2026","rel":"","context":"In "Cabinet Decisions"","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/NITI-AAYOG.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/NITI-AAYOG.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/NITI-AAYOG.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/NITI-AAYOG.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/NITI-AAYOG.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":265478,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/04\/15\/authorised-share-capital-of-three-public-sector-general-insurance-companies-enhanced-vide-national-insurance-company-limited-merger-amendment-scheme-2022\/","url_meta":{"origin":225510,"position":5},"title":"Authorised share capital of three public sector general insurance companies enhanced vide National Insurance Company Limited (Merger) Amendment Scheme, 2022","author":"Bhumika Indulia","date":"April 15, 2022","format":false,"excerpt":"The Central Government notifies National Insurance Company Limited (Merger) Amendment Scheme, 2022 to amend the National Insurance Company Limited (Merger) Scheme, 1973. \u00a0 In the National Insurance Company Limited (Merger) Scheme, 1973, the authorised share capital of three public sector general insurance companies has been enhanced from 'seven thousand five\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/225510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=225510"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/225510\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/209514"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=225510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=225510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=225510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}