The new regulation will bring flexibility in conducting number of...
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India updates biodiversity action plan, to conserve 30pc areas by 2030
Reducing threats includes eight targets focused on major...
Govt asks manufacturers to cut price of 3 anti-cancer drugs
In line with the government's commitment to ensure the availability...
Top insurers & bureaucrats vie for IRDA Chairmanship
Among the insurers who have applied for the post are- VK Sharma, chairman, Life Insurance Corporation(LIC) , G Srinivasan, CMD, New India Assurance,K Sanath Kumar, CMD, National Insurance, three MDs of LIC, Hemant Bhargava,, Sunita Sharma, K Venugopal, and Rajesh Kandwal, CEO & Managing director,LIC, Bahrain,.Nilesh Sathe, member, IRDAI, is also in the fray
GIFT gets major boost as Offshore Insurance Hub
The Indian government has provided competitive tax regime for the IFSC units and thereby units are provided 10 year tax holiday (of which the first 5 years is a complete tax holiday and for next 5 years there’s a tax reduction of 50%), which is applicable for all insurers operating within GIFT IFSC. The move would also help Indian Insurers to set up their offshore office in GIFT SEZ IFSC to undertake dollar business which otherwise was restricted in India.
IRDA extends time limit for reviewing IFRS 17 till 30th June, 2018
It was also felt that considering the magnitude of impact the implementation of the standard is likely to have on the Insurance industry in India, as well as the financial statements and disclosures of insurers, it requires a detailed study before implementation, said IRDAI..
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IRDAI forms panel to explore innovation in insurance
IRDAI has formed another committee under PJ Joseph, member(non-life),
to consider various issues that need to be examined before considering the request of IIISLA(Indian Institute of Insurance Surveyors and Loss Assessors ) for chartered status
RBI rationalises charges on debit card transactions
These directions will come into effect from 1 January, RBI said, adding it would be the duty of the banks to ensure the MDR levied on the merchant does not exceed the prescribed cap.
Five yr lock in period for PE investment in Indian insurance companies:IRDAI
A Private Equity Fund through an SPV can’t be a promoter for more than one life insurer, one general insurer, one health insurer and one reinsurer
Govt notifies for Vijayan’s successor
Applicant should have at least 30 years of work experience and he/she should have worked as secretary to government of India or its equivalent level in Government of India/State Govts/ Other Institutions