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IRDA to revamp Trade Credit Insurance regulations,to make it more MSME friendly
In the Indian context, the present guidelines on TCI, issued in 2016, do not allow the insurance companies to offer full fledge benefits that provides much needed protection to suppliers and restricts TCI covers to banks and financial institutions.
With the Govt. of India’s initiative to improve businesses for the MSMEs, which are considered as the backbone of the national economic structure, it is also imperative to relax the trade credit insurance guidelines to support the business environment.
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“Further, it was also conveyed that all such retirement cases should be received by the first week of the month of superannuation of the officer(s) concerned,” said the directive, issued to secretaries of central government departments and the chairman and managing directors of public sector banks, undertakings and autonomous organisations.
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