Doha Insurance Group(DIG) is currently working on completing the...
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NFRA penalises Deloitte Haskins & Sells LLP, finds deficiencies in BSR & Co’s Audit
The watchdog has imposed a monetary penalty of Rs 2 crore on...
Govt warns subscribers against unfamiliar international calls
"The DoT advises citizens that they should show caution with...
Govt plans quarterly, half-yearly financial statement norms for unlisted companies
There are more than 11 lakh unlisted companies that are active in the country and the proposal also assumes significance against the backdrop of instances of financial woes at some large unlisted entities.
Insurance intermediaries with majority foreign stake can’t repatriate over 75% as dividend: IRDAI
Besides, the financial statements pertaining to the financial year for which the insurance intermediary is declaring a dividend should be free of any qualifications by the statutory auditors, which have an adverse bearing on the profit during that year.
Mandatory standard health policy to have lifelong renewability:IRDA
General and health insurers should offer this product from April 1, 2020 onwards.Irdai has fixed the minimum entry age as 18 and maximum as 65 years and said the policy is subject to lifelong renewability
IRDA slaps Rs 2.18 cr of fine against Hero lnsurance Broking lndia for violating MISP norms
lt was observed that even though HIBIL has empanelled nine general insures and one standalone health insurers, no justification was given by HIBIL to restricl the number of insurers to 10 and not allow other general insurers to sell motor insurance policies through HIBL’s sponsored MISPs thereby leading to violation of MISP guidelines.
Maruti lnsurance Broking fined Rs 3 cr by IRDAI for violating motor insurance norms
Further, taking serious note that the affidavit submitted by the principal officer-Surender Shrivastav,- of MIBL is contrary to the facts, the IRDAI had directed that MIBL not not pay performance incentives to the Principal Officer for one year from the date of this order.
IRDAI cancels 100% pledging of Reliance GI’s shares with Credit Suisse & Nippon India MF
IRDAI said its prior approval was not taken for the transfer. The Irdai added that the unauthorised transfer also violates FDI regulations.
Irdai’s action will benefit all lenders of Reliance Capital as sale proceeds of RGICL’s shares will go to all lenders and not just Credit Suisse and Nippon India MF.
Sebi comes out with new mechanism to reward whistleblowers, informants
Under the new framework, it would be mandatory to disclose the source of information, besides, confidentiality regarding the identity of the informant would be protected, the regulator said in a statement.
Cardif’s sale of 5% of its stakes in SBI Life was illegal:IRDAI
However,the IRDAI said that In view of the submissions made by the Cardif during the personal hearing and their request for taking a lenient view, the IRDAI has granted post-facto approval to the said transaction of transfer
Bank of England enhances scrutiny of Lloyd’s whistleblower systems
Govt plans to make PFRDA sole regulator for the pension products
“The proposed amendments will segregate the marketing functions from the PFRDA which will be only be a licensing authority. The Ministry of Finance*MoF) has finalised a few amendments to the existing PFRDA Act and after inter-ministerial consultations, it will go to the Cabinet for its final approval.It may be placed in the parliament during the forthcoming Budget session,” said Supratim Bandyopadhyay, Member (Finance). PFRDA.