The move, effective immediately following an order dated November...
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Private equity exposure with insurers can be risky for , financial markets, BOE says
Officials are concerned that a potential sharp and correlated...
Sebi cracks down on finfluencers ‘Baap of Charts’ among 7 banned for up to 1 year
The recommendations were given in the garb of providing educational...
RBI issues guidelines for tokenisation of card transactions
RBI has given permission to offer tokenised card transactions services to all channels such as near field communication (NFC), magnetic secure transmission (MST) based contactless transactions, in-app payments, QR code-based payments or token storage mechanisms, including cloud, secure element and trusted execution environment.
Users of prepaid instruments now get RBI cover againsy frauds
Prepaid payment instruments (PPI) comprise mobile wallets, prepaid payments cards, and paper vouchers such as Sodexo
Interview to select a new Irda member(non-life) on Jan 10, 2 CMDs are in the race
Among those who have applied are AV Girija Kumar, CMD, Oriental Insurance Company(OIC), TL Alamelu, CMD, Agriculture Insurance Company,,Siddarth Pradhan, director & general manager, National Insurance Company(NIC), John Pulliantham, general manager & director, NIC, C Narambunathan, director & general manager, New India Assurance SN Rajeswari, general manager, NIA,George E Thomas, professor Insurance Institute of India…
With Rs 60 cr, E&Y gets 18 months to devise strategies for merger of 3 PSU general insurers
With E&Y getting 18 months timeframe for preparing the basic strategies, the deadline for completing full merger of three companies, National Insurance Company(NIC), Oriental Insurance Company(OIC) and United India Insurance (UII). with all its legal and IT and operational complexities, will be easily extended into FY 2022, said analysts.
Indiabulls receives IRDAI nod for its life insurance venture
Also, the country’s first dental insurance company OCARE set up by Neeraj Seth, a dentist by profession, that received its R1 license in July, will apply for the R2 in Feb.
The insurer has a capital of Rs 230 crore
GST Council cuts 3rd party motor insurance rates to12% from 18%
Commercial vehicle owners have been asking for a rate cut as the mandatory tax makes the vehicles expensive. They believe that a reduction in tax rate will also help increase the insurance cover, which at present is only 50 percent of all vehicles
Cryptocurrency industry faces insurance hurdle to mainstream ambitions
“Most institutionally minded crypto firms want to buy proper insurance, and in many cases, getting adequate insurance coverage is a regulatory or legal requirement,” said Henri Arslanian, PwC fintech & crypto leader for Asia.
Govt plans Rs 12,000-levy on petrol, diesel cars to spur EV demand: Report
Under a new policy that is nearing finalisation, National Institution for Transforming India (NITI), a government policy think-tank, has proposed incentives of up to Rs 25,000 -50,000 be directly transferred to EV buyers, ensuring that gains are not pocketed by auto manufacturers, government officials told TOI.
IRDAI Board to meet on Dec 21, may allow new players
Some well known names like Paytm and Indiabulls group and a few other companies, backed by Private Equity Funds, have already applied for licenses some time ago, to float life , general and exclusive health insurance companies to the IRDAI.
IRDAI asks insurers to inform policyholders via SMSes on receipt of premium from Jan
Wherever the mobile phone number of the policyholder is available in policy records with the insurer, the receipt of premium by the insurer under a policy shall be immediately informed to the concerned policyholder on his mobile phone number by an automatic SMS generated by the system, it said in the order.