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IRDAI now extends ‘Use & File’ procedure to Miscellaneous products with a sum assured up to 5 cr

by AIP Online Bureau | Mar 3, 2023 | Eco/Invest/Demography, Indian News, Non-Life, Regulation, Reinsurance

With this move, all general insurance products, are now permitted to be filed under ‘Use and File’ procedure and can be launched without any prior approval. This will provide the vital fillip to the general insurance companies for a broad-based approach in designing...

IRDAI simplifies norms for senior citizens availing Immediate Annuity products from NPS proceeds

by AIP Online Bureau | Mar 3, 2023 | Indian News, Pension & Social Security, Regulation

The exit form of NPS will be treated as proposal form for purchasing annuity, thereby reducing the time and efforts of senior citizens as well as insurers. Hyderabad: In order to bring ease of living for senior citizens, the insurance regulator IRDAI has relaxed the...

World Bank commits $1 bn to India for public healthcare infra

by AIP Online Bureau | Mar 3, 2023 | Eco/Invest/Demography, Health, Indian News

Through this combined financing of USD 1 billion (about Rs 8,200 crore), the bank will support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021, to improve the public healthcare infrastructure across...

Childhood obesity in India likely to rise 9.1% annually by 2035: Report

by AIP Online Bureau | Mar 3, 2023 | Eco/Invest/Demography, Facts, Health

The reasons for increased obesity prevalence include rising trends in dietary preferences towards more highly processed foods, greater levels of sedentary behaviour, weaker policies to control the food supply and food marketing, and less well resourced healthcare...

Social sector spending by rich drops despite increase in wealth: Report

by AIP Online Bureau | Mar 3, 2023 | Data, Eco/Invest/Demography, Wealth Management/ Philanthropy

Going forward, the private philanthropic giving in India is estimated to grow at 11 per cent per annum and reach 1.86 lakh crore in FY27, the report said In the last five years, total social sector expenditure in India has seen an annual growth of 15 per cent per...
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