(a) whether the four top nationalised banks propose to form any grand alliance with
a foreign partner to operate in the insurance sector;
(b) If so, the details thereof; and
(c) the share capital proposed to be contruputed by each of the banks and the foreign
partner, separately ?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL):
(a) Reserve Bank of India (RBI) has reported that it has not received any proposal from
nationalised banks to form a grand alliance with a foreign partner to operate in the
insurance sector.
(b) and (c) Do not arise.