The Indian government previously suspended its plans to merge United India Insurance and two other state-run general insurers in July, opting instead to shift its focus on the insurers' solvency and profitable growth following the capital infusion. Nanalal Chambers 1st Floor, Near Dena Bank, Sector-16, Gandhinagar, India 380009 Coordinate: 23.226738, 72.646823 Phone. United India Insurance said the insurance division of the Department of Financial Services advised the company to increase its authorized share capital in light of the proposed capital infusion for the insurer announced in September 2019. The proposal includes the creation of 48 billion rupees of additional equity shares with a face value of 10 rupees each.
United India Insurance Company (UIIC), one of the completely owned public sector general insurance companies. intends to increase its authorized share capital to 50 billion Indian rupees from 2 billion rupees, subject to regulatory approval. united india insurance co ltd Deposits parked with co-operative credit societies not eligible for insurance cover: RBI Some Co-operative Societies are using the word Bank in their names in violation of Section 7 of the Banking Regulation Act, 1949 which is applicable to co-operative societies under the Act, according to the Reserve Bank. Digit Insurance is one of the leading General Insurance company in India on a mission to Make Insurance Simple for people. United India Insurance Company Limited: Overview.