Cabinet approves creation of ‘Bharat Maritime Insurance Pool’ with a sovereign guarantee of Rs 12,980 crore
April 18th, 03:10 pm
The Union Cabinet chaired by PM Modi has approved the proposal for creation of a domestic insurance pool, namely ‘Bharat Maritime Insurance Pool’ (BMI pool) with a sovereign guarantee of Rs.12,980 crores. The pool ensures that Indian trade continues to have access to affordable insurance for vessels carrying cargo from any international origin to Indian ports and vice-versa.