With the new IRDAI chairman Debasish Panda having already announced that the GI Council will be converted into an out out a professional body to deal with data and new innvative ideas, it is expected that the new secretary general will play a key role in the changing...
Regulation
Paytm drops plans to acquire Raheja QBE General, to file for a new general insurance license
Vijay Shekhar Sharma, founder and CEO, Paytm The company in the exchange filing said, ''Our associate company, Paytm Insuretech Private Limited, had entered into a share purchase agreement to acquire 100% of Raheja QBE General Insurance Company Limited. As the share...
Cryptos pose a bigger threat to the stability of country’s financial system, say RBI officials to Parliamentary panel
Pointing out that cryptocurrencies have the potential to be a medium of exchange and replace the rupee in financial transactions both domestic and cross border, central bank officials said these currencies "can replace a part of monetary system it will also undermine...
Frauds in PSBs dip 51 pc to Rs 40,295 crore; number of cases not falling fast enough: RBI
According to the RBI data on frauds reported by PSBs in all categories during FY22, the highest amount of Rs 9,528.95 crore was reported by the city-based Punjab National Bank (PNB), involving 431 such incidents The country's largest lender State Bank of India...
Govt looks for a new IRDAI member (life)
A search panel, The Financial Sector Regulatory Appointment Search Committee (FSRASC), headed by the cabinet secretary normally interviews and selects a candidate for the post members and chairmen/governor of regulatory bodies like Reserve Bank of India, Sebi and...
IRDAI grants compliance relief to general insurers and FRBs
Further IRDAI has decided that the FRBs and Lloyd’s India need not publish the half yearly and annual Revenue Account, Profit & Loss Account, Balance Sheet and Analytical Ratios etc. in the newspapers Hyderabad: Providing compliance relief, the insurance regulator...
Covers for Home, Micro and Small Businesses can be tailor-made: IRDAI
The new move will enable insurance companies to broaden the coverage already provided in the standard products by offering innovative add-ons or varying the existing provisions to meet the needs of the policyholders in terms of suitability and affordability Hyderabad:...
Randip and Mamta promoted as EDs in IRDA
After a long time, IRDA will have three executive directors as Suresh Mathur, who has gone to Hyderabad based Institute of Insurance and Risk Mangement (IIRM) as a director, is already an excecutive director of IRDAI Hyderabad: After a long hiatus, the insurance...
Howden acquires Singapore based AEGIS Insurance Agencies Pte
Goh Chye Huat, CEO, Howden Asia, said: “The acquisition of AEGIS reflects our broader strategy of empowering local teams to partner with culturally aligned companies with a shared entrepreneurial culture, and is a further step in our strategy to enhance our...
IRDA’s Insurance Advisory Committee gets 2 new members
Prakash Kumar, former chief executive officer, GST Network and Venkat Changavalli, management consultant, have been inducted as members in Insurance Advisory Committee of the insurance regulator IRDAI with immediate effect, said IRDAI on Tuesday.