RBI Building that Caught Fire Covered by Insurance

The Reserve Bank of India has a fire insurance policy for its properties, including the building in Bandra-Kurla Complex where a fire broke out at around 8.30 am on Friday. 

"All our properties are insured," said an RBI spokesperson. RBI properties are insured with the country's largest insurer New India Assurance against loss due to fire, two people aware of the details said. 

 

There was no report of any casualty from the fire on the fourth floor of the building, which houses offices of the National Payments Corporation of India. "There has been no damage to life," the spokesperson said. The fire was brought under control with the help of 10 fire engines. 

 

Major buildings owned by the government of India and various state governments, including state assemblies and Parliament, do not have insurance. A fire in Mantralaya in 2012 had destroyed revenue and development records, and the cost of rebuilding the structure was borne by taxpayers as the building did not have fire insurance.