(a) Whether attention of the Government has been drawn to the news-item appearing in `The Observer` dated April 5, 2000 captioned `Foreign Insurance brokers seek more say`
(b) the facts of the matter reported therein; and
(c) the reaction of the Government to the observations made therein?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALA SAHEB VIKHE PATIL)
(a) Yes, Sir.
(b) & (c): The Insurance Regulatory & Development Authority is in the process of formulating regulations on insurance broking in consultation with the Insurance Advisory Committee under the IRDA Act, 1999.