M Nagaraju,Financial Services Secretary The Finance ministry from...
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UP implements ‘no helmet, no fuel’ rule to put curb on road accidents
Chief Minister Yogi Adityanath had noted that annually 25,000-26000...
New U.S. sanctions against Russian energy interests
Two Russia-based maritime insurance providers: Ingosstrakh...
RBI holds rates steady, raise deposit insurance rate marginally
The RBI has also decided to increase the insurance cost of bank deposits as the cover will be increased to Rs 5 lakh from Rs 1 lakh which was earlier announced by finance minister Nirmala Sitaraman in Budget 2020. The cost will be increased by 2 paise from 10 paise to 12 paise for a deposit of Rs 100 which wouldn’t increase the costs of the bank
IRDA sets up panel to explore allowing exclusive micro-insurance cos
The indicative regulatory aspects are: Capital and Solvency,Underwriting, Product and Claims,Finance and Accounting, Investments, Operations, Corporate Governance
Swadeshi Jagran Manch asks PM’s to stall mergers of 3 PSU general insurers
Among other issues, SJM in its letter to PM has argued that the merger of public sector insurance companies is likely to endanger growth of insurance sector in the country in general and would hamper the successful implementation of socially important flagship insurance schemes like like Pradhan Mantri Fasal Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Aarogya Yojana,
European insurers balk at EU raising capital requirements due to Cyber, Climate Risks
Valdis Dombrovskis, vice president of the European Commission and responsible for financial services, said the 11-trillion-euro ($12.2 trillion) European insurance sector faced growing cyber and climate risks.
Acko Gen Insurance fined Rs 1 core for violating IRDA’s advertisement regulations
Hyderabad: The insurance regulator IRDAI has slapped a fine of one crore rupees against Acko General Insurance (AGIL) for violating various provisions of IRDA(Insurance Advertisements and Disclosure) Regulations, 2000. AGIL's...
New India Assurance settles insider trading case with SEBI, pays over Rs 62 lakh
After a meeting of Sebi’s internal committee in December 2019, New India Assurance paid settlement amount of Rs 62.68 lakh to settle the case through settlement procedure.Consequently, Sebi in a settlement order passed on Thursday said, “The proceedings that may be initiated for the default…are settled.”
Hopeful all countries will come together on AI regulations: Sundar Pichai
Pichai added he is clear-eyed about the risks of technology, but the risk of AI is failing to work on it, because it can affect billions of people
IRDAI postpones implementation Indian Accounting Standard for insurers indefinitely
The effective date of implementation shall be decided after the finalisation of IFRS 17 by IASB, said IRDAI.
IRDAI chief cautions insurers against predatory pricing
When asked about his view on raising foreign investment in insurance sector from the current 49 per cent, he said IRDAI had sought opinions of stakeholders on raising foreign holding to 74 per cent and comments received have been forwarded to the government
IRDA approves 33 regulatory Sandbox proposals
Some of the other general insurers who have received regulatory approvals for their regulatory sandbox projects are- Religare Health Insurance, Bharti Axa General Insurance Co Ltd, Kotak Mahindra General Insurance, TATA AIG General Insurance, SBI General Insurance, Acko General Insurance Ltd, Liberty General Insurance Ltd, Reliance General Insurance Co, Edelweiss General Insurance.