Intervention of finance ministry likely to be sought

Even as life insurers are relieved that they can continue to sell unit-linked insurance products (Ulip) following the Irda order that virtually asked them to ignore the restraint order by Sebi, the regulatory turf war on who would supervise Ulips is far from over. Market sources expect the finance ministry to intervene in the matter on Monday itself, although Irda sources say no such intervention has yet been sought. We had to issue an instant order on Saturday night to protect the interests of the life insurers and their customers which was very much at stake after Sebi surprisingly issued ...

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