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Proposed insurance commission cap may cost Canara Bank Rs 150-200 crore: MD & CEO
Canara Bank could face an estimated impact of Rs 150-200 crore if the proposed cap on insurance commissions is implemented in its current form. However, the lender expects to offset part of the loss by increasing the volume of insurance products sold through its branches, managing director and chief executive officer Brajesh Kumar Singh said. “Even if it is reduced, the loss to earnings will be…
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