IRDA to set up institute in Hyderabad
By Our Banking Bureau | 31 Jan 2002
1
Mumbai:
The Insurance Regulatory Development Authority (IRDA) and the
Andhra Pradesh Industrial Infrastructure Corporation (APIIC) have
signed an agreement to establish a global institute for insurance,
risk management and other allied financial services in Hyderabad.
According to the memorandum of understanding, while IRDA will have an equity participation in the proposed institute in its capacity as a sponsor, APIIC will hold an equity equivalent to the value of land transferred by it to the institute. The institute will be set up in 15 months.
