The report suggested that regulators set up an independent...
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K’taka health dept passes order to implement SC’s directive for patient’s right to die with dignity
"We have also come out with an Advance Medical Directive (AMD), or...
Irdai caps health insurance premium hikes for senior citizens at 10 pc per annum
Irdai further said insurers will have to undertake prior...
Rajya Sabha passes bill to raise FDI in insurance to 74%
“Majority of directors in the board and key management persons to be resident Indians which means every law of the land will be applicable on them. And a specific percentage of the profits is to be retained as general reserves. It cannot be (taken away),” Sitharaman said
India received FDI worth Rs 26,000 crore in the insurance sector after 2015 when the foreign investment limit was raised to 49 per cent from 24 per cent.
IRDAI modifies norms to check arbitrary rise of health premiums by insurers
The IRDAi has said the appointed actuary of an insurance company should review the financial viability of every health insurance product at the end of every financial year and the report of such review should be submitted to their board along with the analysis of favorable or unfavorable experience of each product as well as recommended corrective action, to ensure sustainability of the product and to protect the interests of policyholders of the underlying product.
Govt developing dedicated portal for facilitation of domestic investors
“In order to further strengthen efforts to promote domestic investments, the Department for Promotion of Industry and Internal Trade (DPIIT) is in the process of finalising a dedicated digital portal – Atmanirbhar Niveshak Mitra – for hand holding, information dissemination, and facilitation of domestic investors,” it said.
The special features of the portal will be daily updates on policies and new initiatives by central and state governments; information about approvals, licences, clearances and different schemes and incentives; information on manufacturing clusters and land availability; and applicable taxation system.
Irdai slaps Rs 1 cr penalty on Chola MS General for undue payments to MSIPs
Irdai said the insurer violated guidelines with regard to payment, directly or indirectly, to MISP or any of its associate company.
The insurer made indirect payments to MISPs, automotive dealers and designated persons on the name of “advertisement” and “professional charges”, read the order.
“It is found that the engagement with and payments for ‘display of advertisement material’ made by the insurer to TVS, A M Motors, Indus, ERAM and Nippon during the period from November 2, 2017, to December 31, 2019, are in contravention of MISPs guidelines.
Arora to handle investment portfolio after Kutumbe retires
IFSCA to soon come up with SPAC regulatory framework: Injeti Srinivas
Srinivas also said that the IFSC can act as the second engine of the Indian economy and be an external engine, which will not only channelize global capital flows into India, but it will also make the external face of India available in this centre.
Pfizer wants to make vaccine in India if faster clearance, export freedom assured -sources
Pfizer and Moderna, whose shots are more expensive than the AstraZeneca one being used in India’s immunisation campaign, are not comfortable with strict price and export restrictions, one of the sources said.
Examine measures in pending legislation for regulation of online health service aggregators: HC to Delhi govt
“Besides, these online aggregators are not accredited by any accreditation agency. The existence of such illegal online diagnostic aggregators are posing serious health challenges as a large number of people are falling prey to the attractive health packages being offered by these illegal online aggregators,” read the plea.
Sebi proposes stricter rules on independent directors
The Securities and Exchange Board of India (SEBI) proposed that if listed companies in India wish to appoint or remove independent directors they should require the “dual approval” of shareholders and a majority of the company’s minority investors.
If either of the requirements are not met, a new person will not be appointed and existing independent directors can’t be removed, SEBI said in its proposal, which is open for public consultation until April 1.
Currently, only 51% shareholder approval is required for appointing or removing such directors in most cases, and no separate sign-off is needed from minority investors.
Rajeswari joins IRDA as member, Distribution
Meanwhile, the government has advertised for the post of member, Finance & Accounts,IRDAI as the incubment Pravin Kutumbe will be retiring on 12th March after completing his three-year term.
Subhash Chandra Khuntia, chairman, IRDAI, will completing his three-year term in May.