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Updated regulation on curbing spam calls likely by Jan, says Trai chairman
The Trai Chief said series of measures taken over the past months...
GST returns to become time-barred after 3 years from early 2025
In an advisory, Goods and Services Tax Network (GSTN) said GST...
DHFL bankruptcy: Irdai rules out troubles for two insurance arms; asks insurers to write off exposure
“Even if the parent company goes for liquidation, it will be sold and somebody else will take over. So, DHFL’s share in these insurance companies will be transferred to the new owners,” he said and assured that no policyholders will be affected during the process. However, Khuntia asked insurers to write off their exposures to the housing finance company in the similar manner as they followed in the case of the now bankrupt IL&FS.
Only up to Rs 1 lakh of depositor money insured in banks: RBI subsidiary
Asked whether there is any proposal or move under consideration to raise the limit of Rs 1 lakh insured in the bank in wake of the recent PMC Bank fraud, the DICGC said, “The corporation does not have the requisite information.”
Now, IRDA wants a “catchy name’ for its Rs 1,00,000-Rs5,00,000 standard health policy
Hyderabad: The insurnace regulator IRDAI has hinted that the proposed mandatory standard indemnity health insurace policy would have a sum assured ranging from Rs 1,00,000 to Rs 5,00,000 on individual as well as family floater basis, The objective...
IRDAI consults DHFL administrator to decide the future of group’s 2 insurance subsidiaries
Mumbai: Changing its earlier stand, the insurance regulator Irdai has decided to talk to the administrator of insolvent Dewan Housing Finance Corp Ltd (DHFL) to frame its action plans on the two of its insurance companies, DHFL Pramerica Life and DHFL...
IRDAI suggests no depreciation for the first 3 years in motor claims
For brand new private car upto three years, the sum Insured will represent the current day on-road price of the vehicle insured including Invoice value, Road Tax& Registration charges and value of all accessories fitted thereon by the manufacturer. The value of accessories fitted by the Insured shall be separately mentioned
Sebi plans to rope in agency to implement data analytics project
The analytics/model development would include developing new models, implementing analytics project, establishing linkages between various entities in the market, automated extraction of details from documents filed with Sebi and prediction of market manipulations such as insider trading and front running.
Cabinet approves a single regulator for all financial services in GIFT City
“The unifed body will be headed by a chairman and each of the regulators like Reserve Banof India, Sebi, PFRDA and IRDAI will have one representaives in the single regulatory body,” said Sitharamn after th Cabinet meeting,
Now insurers don’t need a surveyor to settle Cyber,Motor theft,Crop claims:IRDAI
Any claims, in respect of loss or damage to crop, trees, plantations and forests which are covered by the Government sponsored Schemes and ciams under policies of motor vehicle insurance wherein the claim is on account of theft or injury/death to third parties, can be settled without appointing a certified surveyor
Govt unveils norms for 100% FDI in insurance intermediaries sector
However if a bank, whose primary business is outside the insurance area, is allowed by the IRDAI to function as an insurance intermediary, the foreign equity investment caps applicable in that sector, which is 74 percent, will continue to apply, subject to the condition that the revenues of such entities from the primary (non-insurance related) business must remain above 50 per cent. of their total revenues in any financial year.
IRDAI shuts down Anil Ambani’s health insurance co,merge it with Reliance General
The IRDAI was compelled to take such a drastic action as the debt laden Reliance Capital, the parent company of RHICL has consistently failed to provide adequate capital to its one year old health insurance subsidiary, that had experienced steady erosion of the required solvency margin of 150 per cent over one year and had plunge to 63 per cent as on Sept 2019.RHICL, which commenced operations in October, 2018 has not been able to maintain the required solvency margin since June,2019,said the IRDAI