April 12, 2010 12:21 PM

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Govt to look into ULIP ban issue

The Finance Ministry today said it will look into the orders of the two regulators SEBI and IRDA on equity linked products sold by 14 companies. Talking to reporters in New Delhi today the Finance Secretary Ashok Chawla said that he will look in to both the orders internally and discuss it. Taking SEBI head on, insurance regulator IRDA had asked insurance firms to continue selling ULIPs, a day after the capital market watchdog barred 14 insurers from selling these products without its approval. The companies, which come under the ban include Reliance Life, SBI Life, ICICI Prudential, Tata AIG and HDFC Standard Life.

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