Regulation

Citi India CEO lost RBI confidence

Indian News       Feb 15, 2019

  Mumbai: Citigroup, the biggest foreign bank in India by assets, has joined a growing list of lenders that have seen their local leadership roiled by the Reserve Bank of India (RBI).   The RBI around the end of last year informed Citigroup that it wouldn't approve...

Reliance Insurance files fresh IPO papers, removes Edelweiss as merchant banker

Indian News       Feb 11, 2019

  NEW DELHI: Reliance General Insurance, part of Anil Ambani-led Reliance Group, has filed fresh papers with Sebi to float an initial share sale after the regulatory approval for its IPO lapsed in November, market sources said on Monday.  According to the sources, the company's IPO...

(L to R)- G Srinivasan,Director National Insurance Academy,S.C Khuntia,Chairman,IRDAI and,Alice Vaidyan, CMD, GIC Re at a seminar on ``Challenges of Climate Risks on Insurance Business'' in Mumbai

Insurers need to diversify investments to tackle climate risks:IRDA chief

Indian News       Feb 07, 2019

  Mumbai: S.C Khuntia, chairman, IRDAI,said Indian insurers need to undertake diversified investments in different companies and sectors rather than restricting themselves to a few companies to create a financial resilient future to face risks out of climate chnage..   Besides,insurance companies need to provide solutions like...

``Insurers perceived to be moderately equipped to deal with new age risks''

Indian News       Feb 07, 2019

   Mumbai: India Inc.is witnessing unprecedented times as technology becomes a part of life for all companies – irrespective of the sector one operates in.    With new technology such as Artificial Intelligence, Robotics, Cloud Computing, Blockchain, Internet of Things (IoT) come the associated risks such as...

`Regulatory Sanbox: IRDAI Irdai to allow testing of products before launch

Indian News       Feb 05, 2019

  Hyderabad: In a bid to promote innovation in the Indian insurance industry, a panel constituted by the IRDAI has recommended that the insurance regulator should create a core Sandbox Committee having dedicated personnel to monitor and supervise the digital innovation activities, and provide support and...

Subhash Chandra Khuntia, chairman, IRDAI

IRDAI expresses concern over insurers  paying illegal commissions to dealers to grab motor biz

Indian News       Jan 31, 2019

   MUMBAI: Irdai chief Subhash Chandra Khuntia went public with the watchdogs concerns on the motor insurance service providers(MISP), wherein the quantum of commissions given by insurers is higher than the one set by the regulator for insuring private cars and two wheelers in own damage(OD)...

Interim Budget 2019-20: Focussing on Health Insurance & Wearable Technology

Articles       Jan 28, 2019

  The current NDA government ushered in a new hope amongst the Indians with its call for ‘health assurance’ replacing the traditional ‘health insurance’. According to the EY 2018 report on ‘Global analysis of health insurance in India’, only 20% of the 1.3 billion population in...

Nilesh Sathe, member(Life), IRDAI

LIC can continue its ownership of IDBI Federal Life Insurance for the time being:IRDAI

Indian News       Jan 24, 2019

  Mumbai:  The insurance regulator IRDAI will allow IDBI Federal Life Insurance to continue with its existing promoter,IDBI Bank even after the Life Insurance Corporation(LIC) has picked up 51 per cent in the bank and is named as the new promoter of the bank.. The IRDAI...

IRDA to issue new norms on the use of Aadhaar Card for eKYC

Indian News       Jan 24, 2019

  Mumbai: Post the Supreme Court rulings, Indian insurers will be allowed use Aadhaar Card for eKYC(Know your customer) with the condition that they `mask’ the 12 digits on the card and only use Quick Response (QR) Code.    The insurance regulator will issue new norms on...

Mathur Panel favours health insurance claim payments in installments

Indian News       Jan 21, 2019

  Hyderabad: A Working Group,  constituted by the IRDAI, under Suresh Mathur, executive director, IRDAI,has recommended that the general and health insurance companies may be allowed to offer the option of payment of claims in installments or in lump-sum upon happening of a contingent event in...

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