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CIRCULAR REGARDING SOLVENCY MARGIN FOR CROP INSURANCE BUSINESS (DATED - 03.08.2021)

Updated on:3rd Aug, 2021
The provision of Para-6.1.1 is revised as under: Premium receivables related to State / Central Government sponsored schemes for all quarters of the FY 2021-22 to the extent that they are not realized within a period of 270 days should be placed with value zero. The provisions of Para-6.2, Para-6.3 and Para-6.3.1 shall remain effective for one more financial year, that is, for the period from 1st April, 2021 up to 31st March, 2022 and the situation will be reviewed accordingly. Insurers to continue follow-up with the Central and State Governments for release of their share of premium. This Circular has come into effect from 01.04.2021.
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