2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 2, 000 cr
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Rs 5, 000 cr
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Rs 3, 000 cr
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Rs 7, 000 cr
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Detailed explanation-1: -During 2020-21, Rs 9, 950 crore was infused in three PSU general insurers by the government out of which Rs 3, 605 crore was infused in United India Insurance, Rs 3, 175 crore in National Insurance and Rs 3, 170 crore in Oriental Insurance.
Detailed explanation-2: -The central government will reportedly infuse Rs 5, 000 crore as equity support into state-run general insurers. This comes days after the centre approved the wage revision plan for employees of general insurers.
Detailed explanation-3: -According to ET Now sources, post-infusion of funds and restructuring, the government will actually start the process of privatisation of one of these PSUs. United India, Oriental Insurance, and National Insurance are the companies that may get a capital boost from the budget.
Detailed explanation-4: -It reported a solvency of 0.63 times as on March 31, 2022 and June 30, 2022 even after a capital infusion of Rs. 3, 700 crore in FY2022 by the GoI.
Detailed explanation-5: -Government notifies 12% wage hike for employees of PSU general insurers; links next with performance. “This Scheme may be called the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2022, ” a gazette notification dated October 14, 2022 said.