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Irdai issues norms to protect group policyholders of merging state banks Moreover, Irdai has said a bank in its capacity as a group organizer may have group insurance arrangements with any number of insurance firms Current Affairs :The protection controller has concocted rules to secure the premiums of gathering protection policyholders of consolidating state-run banks. The controller said upon the merger of open segment banks (PSBs), bunch medical coverage arrangements of clients of the blended banks will keep on being adjusted by the back up plan till the finish of the approach time frame. “The insurance agencies will make appropriate plans with the obtaining banks with this impact,” said the Insurance Regulatory and Development Authority of India (Irdai) The controller has additionally said the courses of action of the blended banks can be proceeded with the individual insurance agencies for a time of a year from the date of merger, subject to readiness of the obtaini...