15.1
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
INSURANCE
General insurance business in India is the monopoly of General Insurance Corporation of India (GIC) and its subsidiaries. Life insurance business is the monopoly of Life Insurance Corporation of India (LIC). Exchange Control regulations governing general and life insurance business in India are set out in two separate Memoranda (GIM and LIM). This Chapter highlights the provisions which are relevant to authorised dealers.