Elon Musk In a complaint filed in Washington, D.C. federal court,...
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China discusses sale of TikTok US to Musk as one possible option
Under one scenario that’s been discussed by the Chinese government,...
India set to reject oil tankers sanctioned by US for transporting Russian oil
A senior Indian bureaucrat told reporters that sanctioned vessels...
RBI unveils Yes Bank’s restructuring plans,SBI likely to hold 49% stake
“The matter in regard to Yes Bank was discussed at the meeting of the central board of bank on Thursday and an in-principle approval has been given by the board to explore investment opportunity in the bank,” the SBI board informed the bourses late in the evening.
RBI puts troubled Yes Bank under moratorium,limits withdrawals at Rs 50k
The RBI has also superseded the Board of Directors of Yes Bank for a period of 30 days owing to serious deterioration in the financial position of the Bank.
Prashant Kumar, ex-DMD and CFO of State Bank of India has been appointed as the administrator of the bank.
SAT rejects IRDA order, allows sale of pledged Reliance General insurance shares
Rejecting the IRDA’s Dec 27 order, the SAT in its order on Thursday has asked the IDBI Trusteeship Services, that is holding the pledged shares as a custodian, to make every endevour to find a suitable buyer for the pleged shares.
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“ As and when a suitable buyer is found suitable application would be made before IRDAI for appropriate approval to enable the IRDAI to carry out due diligence and to ascertain fulfillment of Fit and Proper criteria, financial soundness,’’ said the SAT order .
G Srinivasan panel to examine if life insurers can sell indemnity based health products
General Insurance Council had been vehemently opposing the proposal.Even Kumar, chairman, LIC was not supportive of the idea of life insurers selling indemnity products.
US lawmakers to introduce bipartisan Bill aimed at internet firms’ Liability shield
The move is the latest example of how regulators and lawmakers in Washington are reconsidering the need for incentives that once helped online companies grow, but are increasingly viewed as impediments to curbing online crime, hate speech and extremism.
No plans to make listing mandatory for insurers:IRDAI chief
“I would like to encourage companies to weed out products which are not selling and simply adding to the number, then they will be able to manage those products well,” chairman S C Khuntia said, adding that the plea was made at a meeting with chief executives recently”
Irdai expresses concern over high hospital tariffs plans to standardise charges
“Hospitals keep on changing tariffs on a regular basis. There is no body to check that. The regulator does not allow insurance companies to raise premium every year though there is around 10-15 per cent inflation of hospital charges at present,” Alamelu said.
IRDA improves ambit of “pre-existing disease” norms
IRDAI wants expenses incurred towards treatment in any hospital or by any medical practitioner or any other provider are specifically excluded by the insurer and disclosed in its website / notified to the policyholders are not admissible.
Bill Coen appointed chair of the IFRS Advisory Council
The new Advisory Council Chair will have three priorities. First, to provide leadership and set the agenda for the 2020 meetings; second, to assess for the Trustees of the Foundation any relevant changes that may be warranted in the role and composition of the Advisory Council; and third, to position the Council through any transition.
IRDAI to expand its regulatory Sandbox project soon:Khuntia
“ We in Irdai have already allowed a regulatory sandbox regime because we do not know whether the (existing) regulations will be adequate for the new processes that these technologies will need.This is an experiment we we’ll allow for six months and up to one year.If we find that these are old processes which will help transactions and make life easier for the insurer as well as the insured without compromising on the policy holders protection, we will think of tweaking the regulations to make it happen.”