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REFERENCES  
  1. Dr. P. Mohar Reddy, Prof. C. Sivarami Reddy, Bancassurace : who is tying the knot and why, The Insurance Times, Vol.25(11), November, 2005, p.36.

  2. Id;

  3. http://www.scribd.com/doc/13453035/project-on-bancassurance visited on 27-10-11.

  4. In France, spain, Italy and Belgium customers buy more than 50% of insurance sector through banks. In Asia, Malaysia, Indonesia, Hong Kong, Taiwan and Singapore are the countries where customers prefers to purchase insurance product through banks.

  5. Soma dey & Dr. Santi Gopal Maji, Bancassurance : An Indian Scenario, The Insurance Times, vol. 27 (02), 2007, p.22.

  6. Id;

  7. Anabil Bhattacharya, Bancassurance- Needs & Effects, vol 24(10), The Insurance Times, October, 2004, p. 27.

  8. http://www.kniaif.com/bancc_js/slide_13.html visited on 29-10-11

  9. Id;

  10. Supra n. 18.

  11. Supra n. 18.

  12. Manoj kumar, Bancassurance, The Insurance Times, vol. 23(03) p.20.

  13. Id;

  14. Id;

  15. Supra n. 20.

  16. Circular No.DBOD.No.FSD.BC. 67 /24.01.001/2009-10

  17. http://banking.indlaw.com/search/quick/quick.aspx?keyword=bancassurance&Q=5+(1) visited on 29-11-11.

  18. Sura n.18

  19. http://www.indiastudychannel.com/resources/53394-Bancassurance.aspx visited on 08-11-11.

  20. Life Insurance Corporation

  21. Government of India appointed Malhotra Committee in the year 1993 to examine the structure of the insurance industry . The committee recommended the participation of private enterprises to make insurance industry more efficient and competitive. The recommendation of the Committee was discussed and the govt. decided to open the sector with a strong and effective regulatory authority. Consequently, the IRDA Bill was passed in December 1999 and became an Act in April 2000.

  22. Master Circular No.DBOD.FSD.BC.17/24.01.001/2010-11 dated July 1, 2010

  23. Attached as an annexure 1.


  24. "……..Banks may, therefore, submit necessary applications to RBI furnishing full details in respect of the parameters as specified in the above guidelines, details of equity contribution proposed in the joint venture/strategic investment, the name of the company with whom the bank would have tie-up arrangements in any manner in insurance business, etc. The relative Board note and Resolution passed thereon approving the bank’s proposal together with viability report prepared in this regard may also be forwarded to Reserve Bank. However, insurance business will not be permitted to be undertaken departmentally by the banks……."

  25. http://www.rbi.org.in/scripts/NotificationUser.aspx?Mode=0&Id=6561 visited on 13-11-11.

  26. Attached as an annexure 2

  27. Supra n.

  28. Soma Dey & Dr. Santi Gopal Maji, Bancassurance : An Indian Scenario, The Insurance Times, vol. 27 (02), 2007, p.23.

  29. http://www.indiastudychannel.com/resources/53394-Bancassurance.aspx visited on 28-10-11.

  30. It means even if the holding company is Insurance company and subsidiary company is banking company, this could be classified under this category provided the subsidiary company must be selling insurance products along with carrying on its banking business.

  31. A. Karunagaran, Bancassurance : A Feasible strategy for Banks in India, Reserve Bank of India Occassional Papers , vol. 27, No. 3, Winter 2006

  32. Supra n. 11;

  33. Notification F. No. IRDA/Reg/1/51/2010, dated 1-7-2010, issued by IRDA.

  34. Supra n.11.

  35. Section 2(i) of the Insurance Regulatory and Development Authority (Sharing of Database for Distribution of Insurance Products) Regulations, 2010 defines “Referral Arrangement” means the arrangement between a referral company and an insurer in terms of an agreement entered into for the purpose of sharing of the database of the customers of the referral company but does not include the soliciting or sale, directly or through an agent, corporate agent or an insurance intermediary including a micro insurance agent of an insurance product;

  36. Section 2(j) of the Regulation 2010 defines "Referral Company" as "Referral Company' means a company formed and registered under the Companies Act, 1956 (1 of 1956) and approved by the Authority under sub-regulation (3) of regulation 6 except as otherwise permitted in these regulations;

  37. Anabil Bhattacharya, Bancassurance- Needs & Effects, vol 24(10), The Insurance Times, October, 2004, p. 27.

  38. Id; p. 31.

  39. Report of the Committee on Bancassurance, IRDA/AGENTS/CIR/BANC/115/06/2011.

  40. Id;

  41. Id;

  42. Id;

  43. Anabil Bhattacharya, Bancassurance- Needs & Effects, vol 24(10), The Insurance Times, October, 2004, p. 29.

  44. These seven members are veteran of the market and they are :- Deepak Satwalekar, G V Rao, S V Mony, Sandeep Bakshi, R Krinshnamurthy, N M Govardhan and A Giridhar.

  45. http://www.gktoday.in/bank-po/understanding-bancassurance/ visited on 12-11-11.

  46. The committee was constituted by IRDA vide order no. IRDA/AGENTS/ORD/02/APR 2009 dated 04-05-2009.
  47. Id;

  48. Report of the Committee on Bancassurance, IRDA/AGENTS/CIR/BANC/115/06/2011.
 
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