While Europe has a number of rules that make it illegal to produce...
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Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025:IRDAI makes transitional arrangements for issuing licenses to intermediaries
To facilitate a smooth transition to the new regime, an interim...
Public Insurance Registry to modernise information architecture of insurance sector:Seth
Ajay Seth, chairman, IRDAI `By enabling standardised, consent-based...
Mis-selling in insurance sector significant concern:Irdai
The total number of grievances registered against life insurers has remained almost the same at 1,20,429 in 2024-25 against 1,20,726 in 2023-24, whereas the total number of grievances registered under UFBP (Unfair Business Practices) has increased from 23,335 in...
Transport ministry proposes Aadhaar-like number to EV batteries for efficient traceability
This system aims to bring transparency, accountability, and sustainability to the battery ecosystem by enabling accurate tracking of performance, and environmental impact.BPAN will play a crucial role in enabling second-life usage, regulatory compliance, and efficient...
Labour Ministry proposes 90-day annual work threshold for gig worker social security
It explained that a gig worker, or a platform worker, will be considered to be engaged with an aggregator for one day if they have earned income, irrespective of the amount, for such work rendered with the aggregator on that calendar day. New Delhi: The Labour...
MeitY writes to X over “misuse of Grok AI” for obscene content, seeks action taken report within 72 hours
"Failure to observe such due diligence obligations shall result in the loss of the exemption from liability under section 79 of the IT Act, and you shall also be liable for consequential action as provided under any law including the IT Act and BNS," the letter said....
Govt probes insurers paying excessive distribution commissions without growing business
The Department of Financial services (DFS) has sent letters to general insurers and life insurers through their respective councils- General Insurance Council and Life Insurance Council- after both- the insurance regulator IRDAI and the banking regulator Reserve Bank...
MCA relaxes KYC norms for directors, replaces annual filing with 3-yr cycle
A revised KYC form has been introduced, which can be used not only for KYC compliance but also for updating mobile numbers, email addresses and residential addresses, as well as for reactivation of the Document Identification Number (DIN). New Delhi: The Corporate...
Aviation regulator issues notice to Air India crew over safety issues
The notice by the Directorate General of Civil Aviation (DGCA) pertains to operations of flight AI-357 from Delhi to Tokyo and AI-358 from Tokyo to Delhi New Delhi:India’s aviation regulator has issued a show-cause notice to Air India cockpit crew for operating...
Scheduled commercial banks allowed to become sponsors of Pension Funds
This will enhance competition and safeguard subscriber’s interests. The proposed framework seeks to address existing regulatory constraints that had limited bank participation till now. By introducing a clearly defined eligibility criteria based on net worth, market...
RBI faults Indian insurers’ high-cost distribution strategies
Premium growth in the Indian insurance industry has been increasingly driven by high-cost distribution-led strategies rather than operating efficiency. In non-life sector, commission growth has significantly outpaced other operating expenses, the RBI said mentioned in...
Domestic reinsurance capabilities through regulatory incentives need to augmented:RBI
In its Financial Stability Report, the central bank has cautioned the growing reliance on cross-border reinsurance suggests that the domestic market’s capacity may not be keeping pace with the specialized or large-scale risk transfer needs of Indian insurers,...