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Govt probes insurers paying excessive distribution commissions without growing business
The Department of Financial services (DFS) has sent letters to general insurers and life insurers through their respective councils- General Insurance Council and Life Insurance Council- after both- the insurance regulator IRDAI and the banking regulator Reserve Bank...
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MCA relaxes KYC norms for directors, replaces annual filing with 3-yr cycle
A revised KYC form has been introduced, which can be used not only for KYC compliance but also for updating mobile numbers, email addresses and residential addresses, as well as for reactivation of the Document Identification Number (DIN). New Delhi: The Corporate...
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Aviation regulator issues notice to Air India crew over safety issues
The notice by the Directorate General of Civil Aviation (DGCA) pertains to operations of flight AI-357 from Delhi to Tokyo and AI-358 from Tokyo to Delhi New Delhi:India’s aviation regulator has issued a show-cause notice to Air India cockpit crew for operating...
Scheduled commercial banks allowed to become sponsors of Pension Funds
This will enhance competition and safeguard subscriber’s interests. The proposed framework seeks to address existing regulatory constraints that had limited bank participation till now. By introducing a clearly defined eligibility criteria based on net worth, market...
Indian auto industry closes 2025 on firm footing, broad-based sales growth reported in December
Maruti Suzuki India, the largest car maker in India, reported total sales of 217,854 units in December 2025, up from 178,248 units a year earlier. Domestic sales touched an all-time high of 182,165 units, underlining strong demand for compact cars and utility...
GIC Re set to expand its global business in Jan1 renewals
Globally reinsurance buyers enter the January renewal season with strong momentum. Exposures are evolving, demand is growing, capacity is abundant backed by industry capital is at record levels. Despite lingering headwinds, the market is well-positioned to support...
RBI faults Indian insurers’ high-cost distribution strategies
Premium growth in the Indian insurance industry has been increasingly driven by high-cost distribution-led strategies rather than operating efficiency. In non-life sector, commission growth has significantly outpaced other operating expenses, the RBI said mentioned in...
Domestic reinsurance capabilities through regulatory incentives need to augmented:RBI
In its Financial Stability Report, the central bank has cautioned the growing reliance on cross-border reinsurance suggests that the domestic market’s capacity may not be keeping pace with the specialized or large-scale risk transfer needs of Indian insurers,...
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Pvt sector insurers pay higher commissions, constraint expansion of insurance coverage:IRDAI & RBI reports
Commission expenses and operating expenses constitute a major part of the total expenses of the general insurance industry, said the IRDAI in its annual report of 2024-25 For the life insurance sector, total commission outgo increased by 18 per cent (whereas the total...
India’s Auto Sector-2025: EV momentum, premiumisation and engineering innovation
Ajinkya Firodia, Vice Chairman and Managing Director of Kinetic Watts & Volts Ltd., said 2025 was a defining year for India's electric scooter ecosystem.EV penetration in scooters crossed an all-time high of 16 per cent during the year. Also policy support,...
Surgeon in Shanghai remotely operates on 2 patients at Mumbai hospital
The surgeries, a radical prostatectomy and a partial nephrectomy, were conducted recently using the Toumai Remote Robotic Surgery System at the patients admitted at Kokilaben Dhirubhai Ambani Hospital (KDAH) in Mumbai's Andheri area, said the multispeciality...
Economic Reforms Agenda-2025: Simplifying regulations, and strengthening social security
Labour reforms form another cornerstone of the 2025 agenda. The government has consolidated 29 labour laws into four Labour Codes covering wages, industrial relations, social security and occupational safety. The new framework extends social security benefits to...
Centre in consulting with stakeholders on lateral entry requirement impact:DoPT Secretary
Asked if the government was considering forming new rules and procedures on lateral entry recruitment, she said if something comes up in the course of consultation with the ministries and departments, and if there are any requirements on making some modifications and...