According to Vishal Sacheendran, Head of Regional Markets at...
Category:
Regulation
Latest
Build capabilities to ensure correct assessment of climate change risks: RBI Dy Guv Rao
The climate-specific vulnerabilities’ interplay with real economy...
Govt develops eMaap for ensuring fair trade, consumer protection and a centralized database of all stakeholders
eMaap simplifies critical procedures such as issuing, renewing, and...
IRDAI seeks proposal from LIC on stake reduction in IDBI Bank
“We will decide on the timeline (for stake reduction by LIC in IDBI Bank). We are not leaving it to them. I have asked them (LIC) to give a proposal and after that we will take a decision,” IRDAI Chairman Subhash Chandra Khuntia said on the sidelines of an event organised by Ficci here.
IRDA prepares stringent norms to check conflict of interest among officials of insurance cos
Where the insurer becomes aware of the conflict of interest situation, immediate steps shall be taken by the insurer to ensure that the powers / authority delegated to such a Director or Officer is ceased and he / she is not allowed to participate in the day-to-day activities of the company
IRDAI pulls up insurers for non- compliance of Insurance Ombudsman awards
According to TS Naik, general manager,Consumer Affairs Department, IRDAI, the regulator has found good deal of data showing many lapses committed by the insurers with regard to the compliance of orders of Insurance Ombudsman.
IRDA has no plans to dismantle motor 3rd party tariff regime:Khuntia
When asked about any possibility of removing the third party motor segment from tariff regime S C Khuntia, Chairman, IRDAI, on the sidelines of the 20th Global Conference of Actuaries, said, “Often general insurers complain us that tariff was not adequate and they are bleeding due to the loss making portfolio.. However, if it is detariffed, a cut- throat competition will begin. We are looking at various options on the issue.’’
Title Insurance fails to pick up due to high cost
M.S Chockalingam, settlement commissioner, Government of Maharashtra,said,though such a product is already made mandatory in the Act, the state government has to notify the mandatory feature of the product separately.
Relief to e-wallets: RBI extends KYC compliance norms by six months
“Based on requests received from various stakeholders to increase the above timeline on account of difficulties in undertaking Aadhaar e-KYC and time necessary to put in place alternative systems for completing the KYC process, it has been decided to allow PPI issuers additional time of six months for completion of the KYC process,” the RBI said in a statement.
Minimum assured return scheme for NPS subscribers soon
EOI has been invited from actuarial firms to design, develop and recommend minimum assured return scheme (MARS) under the National Pension System that can be implemented under NPS architecture
‘Unregulated deposit ordinance to lead to creation of central repository of registered firms
The Ordinance makes it absolutely necessary for everyone to register before taking a deposit and creating a central repository of all the registered entities which can take deposits. So, whosoever are not registered are not regulated entities,” said Financial Services Secretary Rajiv Kumar.
From now on, there is a complete ban on unregulated deposit and anyone promoting this will be punished, he said. “It also says you cannot dupe anybody as an agent or even as advertisement, you cannot give face to that scheme which is not regulated by any agency,” he added.
Citi India CEO lost RBI confidence
The RBI around the end of last year informed Citigroup that it wouldn’t approve a new term for Pramit Jhaveri, who had been India chief executive officer (CEO) for almost a decade, people with knowledge of the matter said. That prompted the bank, which had planned to nominate Jhaveri for another three-year term, to change course and move him to another position, the people said, asking not to be named.
Reliance Insurance files fresh IPO papers, removes Edelweiss as merchant banker
The firm had earlier filed its draft papers in October 2017 for which it received the Securities and Exchange Board of India’s approval in November 2017.
The Sebi’s approval for IPOs is valid for one year, which expired on November 29, 2018, in the case of Reliance General Insurance Company, according to data available with the markets watchdog.