Rohit Kumar Sahoo,

Asst. Professor, Dept. of Management, College of Engineering, Bhubaneswar

DoI: CJBES/ Vol.1.2/ Dec-2024…

Abstract

Banc-assurance has grown at different places and taken steps and forms in different countries depending upon demography economic and legislative prescription in that country. It is most successful in Europe, especially in France from where it started. The concept of Banc-assurance is relatively new in this Indian sub-continent. In India the process began in the year 2000. IRDA came up with regulation on registration of Insurance companies. The Insurance companies are bound by the rule and regulation of IRDA. Govt. of India also issued a notification specifying ‘Insurance’ as a permissible form of business that could be undertaken by banks under section 6(I) of the Banking regulation Act 1949. Life insurance companies require good distribution strength and tremendous manpower to reach out such a huge customer bank. Banc-assurance would mostly depend on how well insurers and bankers understand the changing needs. This paper studies the emerging landscape.

Keywords: Bank-Assurance. Banking regulations, Insurance sector, IRDA