Lockton, the world's largest independent insurance brokerage, had...
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Cryptocurrencies huge risks to financial stability, RBI Governor
Shantikanta Das,Governor, Reserve Bank of India ``I am actually of...
Sebi issues notices to Axis Bank and Max Fin Services about Max Life Insurance deal
The show cause notice (SCN) is being reviewed and will be filing...
IRDAI slaps Rs 15 lakh penalty against Shriram Transport Finance
“Even the submission of the insurer clearly indicates that in majority of cases, involvement of SP is negligible during solicitation of business and hence the CA is engaging unlicensed persons for soliciting business,’’ said IRDAI in its penalty order.
IRDA forms panel to standardise Title Insurance products
The feedback received from the Government of India reveals that the stakeholders, especially the Developers Associations have flagged the need for standardisation in the Title Insurance products, said IRDAI.
IRDAI makes travel insurance sale via online ticket booking portals more stringent
This circular will come into force with immediate effect. All the group insurance arrangements that are not in compliance to these norms shall be terminated with effect from 01st Oct
SEBI pulls up SBI Life for not complying with minimum public shareholding norms
“The company and BNP Cardif may note that the dilution of shareholding beyond the permissible limit is not in compliance with provisions of the said circular and hence, such dilution would not be counted towards achieving MPS threshold,” SBI Life said in a regulatory filing quoting the letter of Securities and Exchange Board of India (SEBI).
RBI in talks with govt to ensure mega bank mergers are non-disruptive: Das
Last month, the government had announced creation of four large state-run banks by merging ten of them. The will take down the number of total state-owned banks to 12 from the 19 this April.
IRDAI penalises Bagic and Go Digit for violating its norms
In one of the findings, the IRDAI has said that the number of offices (financial year wise) indicates that the actual number of offices as per the records of Bagic varies with the number of offices as per the records of the IRDAI and public disclosures. There is noticeable increase in the number of offices and staff after MISP guidelines have come into effect.
Regulatory Sandbox a win-win position for regulators and Start-ups:IRDAI
Banarji, urged insuretech firms to use the facility to test new products and services and added that IRDAI will start receiving applications under regulatory sandbox from 15 September to 14 October 2019
FPIs pulled out Rs 38,930 cr in FY19 due to weak market sentiments: Sebi
“Despite heavy capital infusion by FPIs in last two months, the Indian capital market suffered a net outflow to the tune of Rs 38,930 crore in 2018-19 as macroeconomic headwinds weighed on investor sentiment through the year,” the report said.
Fintech panel suggest legal framework to protect digital services consumers
The panel has also recommended that insurance companies and lending agencies be encouraged to use drone and remote sensing technology for crop area, damage and location assessments to support risk reduction in insurance/lending business.
Insurance broking body opposes 100% FDI in the sector
In an earlier missive to the chairman of the insurance regulator IRDAI SC Khuntia, the IBAI has said, “ An online survey of brokers was conducted where a slight majority (51%) were against FDI being increased and a significant majority (49%) were in favour. The IBAI work on the basis of the majority view and it is this context that the IBAI would like to reiterate the stand that it has consistently taken which is that FDI at this stage is not recommended for the industry.