Economy
Cabinet clears Rs 12,980 crore maritime insurance pool to cut costs
What's happening now
The Union Cabinet has approved the creation of the 'Bharat Maritime Insurance Pool' (BMIP) backed by a ₹12,980 crore sovereign guarantee. Administered by the General Insurance Corporation of India, the 10-year initiative will provide continuous and affordable maritime insurance—including war and cargo risks—for Indian-flagged and India-bound vessels.
Source: Economic TimesRead the full story →