Pankaj Chaudhary, Minister of State in the Ministry of Finance...
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Indian re/insurers to impement Indian Accounting Standards (Ind AS) from April 1, can avail forbearance for 1-yr:IRDAI
To facilitate smooth transition, for insurers facing challenges in...
Pilots’ association urges DGCA to suspend flights in high-risk conflict zones in West Asia, mandate insurance coverage
In a letter to DGCA, Airline Pilots' Association of India (ALPA...
NCLT gives all parties 8 days to complete procedural issues for ownership transfer of RCAP to IIHL
The procedural documentation and filings for the last leg of the transaction for the remaining Rs 4,500 crore is under process. However, due to the upcoming banking holidays, a seven-day extension was considered appropriate by all parties Mumbai: The National Company...
IRDAI grants license to Prem Watsa promoted Indian reinsurer Value Attics
The IRDA has also identified Life Insurance Corporation of India, The New India Assurance Company Ltd and General Insurance Corporation of India as Domestic Systemically Important Insurers (D-SIIs) for FY 2024-25 Oben Ventures LLP (promoted by Kamesh Goyal) and FAL...
RBI invites applications for recognition of SROs for account aggregator ecosystem
The account aggregator framework facilitates secure and seamless exchange of specified financial information through Non-Banking Financial Company-Account Aggregators, which act as intermediaries between Financial Information Providers (FIPs) and Financial Information...
Growing role of insurance companies and retail investors in private credit making it vulnerable: BIS report
“The growing role of insurance companies and retail investors, as well as funds’ leverage and degree of portfolio concentration warrant monitoring, This is especially relevant in light of growing interlinkages between banks and private credit” The Bank for...
100% FDI: Govt expects insurance industry to grow at 7.1% annually over next 5 years outpacing global and emerging market growth
This enhanced limit will be available to those companies which invest their entire premium in India, said Pankaj Chaudhary, minister of state, Ministry of Finance in the Lok Sabha. New Delhi: By raising foreign direct investment(FDI) in the Indian insurance sector...
RBI to promote innovations in payment systems with soft touch regulations:Governor
Sanjay Malhotra,Governor , RBI "We will continue to encourage innovation while promoting safety and security through soft touch regulations," the RBI chief said and added that the central bank has adopted a soft-touch approach to regulating the payments ecosystem and...
Irdai permits insurers to undertake transactions in bond forwards for hedging
In a circular on 'Exposure to Forward Contracts in Government Securities (Bond Forwards)', Insurance Regulatory and Development Authority of India (Irdai) said that in view of the RBI's directions and considering insurers requests for introduction of Bond Forwards,...
Social media and digital accounts accessed only in search, survey ops: I-T official
"These powers are only to be executed during the course of a search or survey operation, and that too when the assessee being searched or surveyed refuses to share the passwords for digital storage drives, emails, Clouds and communication platforms such as WhatsApp...
IRDAI board to meet on Wednesday
Among other issues, the meeting, the last one under chairmanship of Debasish Panda, may consider granting approvals –R2-to the first private sector reinsurance company, Value Attics Reinsurance Limited, set up by Canadian billionaire Prem Watsa’s Fairfax group...
Govt advertises for a new IRDAI chairman as Panda’s 3-yr tenure ends on Mar 13
Debasish Panda, chairman, Insurance Regulatory and Development Authority The last date for applying for the top IRDAI job is Apr 6. For the new chairman of IRDAI, names of Giridhar Aramane, former Defense Secretary, Ajay Seth, Secretary, Department of Economic...