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BANKING TRADE AND COMMERCE
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INSURANCE COMPANIES
In the field of insurance the progress made by this district until
recently was rather slow. The insurance business made considerable headway since 1956, when insurance business was nationalised. With nationalisation, the Life Insurance Corporation became the foremost and the largest single agency doing life insurance business in India. The Life Insurance Corporation was established on 1st September 1956. Since this date all-India insurances and provident societies and all; foreign insurers ceased to carry on life insurance business in India. The general insurance, however, which includes fire, marine, accident and other insurance business is kept open to private enterprise.
Under the new organisational and administrative set-up of the Lite Insurance Corporation the Satara district is placed under the territorial jurisdiction of the Satara Division of the Western Zone. The total number of agents working in the Satara district by the end of 1956, was
464. The number varied between 310 and 325 in 1957. and it was 310 by September 1958.
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