Merger U-turn
The Cabinet also cleared raising the authorised share capital of National Insurance Company to Rs 7,500 crore and of United India and Oriental Insurance to Rs 5,000 crore each to give effect to the capital infusion.
The central government on Saturday said S.L.Tripathy has been selected as the Chairman-cum-Managing Director of the city-based United India Insurance Company Limited.
Tripathy is currently General Manager and Director at The New India Assurance Company Limited.
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He is appointed as CMD of United India from the date of assumption of charge of the office and up to the date of his attaining the age of superannuation.
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