.........The report said that banks acting as brokers will not only enable the banks to utilize their entire network of branches but also increase the insurance penetration and pose an effective competition in rendering services to the policyholders. "Since the banks are regulated separately by the Reserve Bank of India (RBI), it shall be a measure to enhance the efficiency in the conduct of procurement of insurance business and also accountability to the policyholder as compared to the agency channel," it said...........
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