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Govt unveils norms for 100% FDI in insurance intermediaries sector

However if a bank, whose primary business is outside the insurance area, is allowed by the IRDAI to function as an insurance intermediary, the foreign equity investment caps applicable in that sector, which is 74 percent, will continue to apply, subject to the condition that the revenues of such entities from the primary (non-insurance related) business must remain above 50 per cent. of their total revenues in any financial year.

IRDAI shuts down Anil Ambani’s health insurance co,merge it with Reliance General

The IRDAI was compelled to take such a drastic action as the debt laden Reliance Capital, the parent company of RHICL has consistently failed to provide adequate capital to its one year old health insurance subsidiary, that had experienced steady erosion of the required solvency margin of 150 per cent over one year and had plunge to 63 per cent as on Sept 2019.RHICL, which commenced operations in October, 2018 has not been able to maintain the required solvency margin since June,2019,said the IRDAI

India would need around 2,400 new aircraft in next 20 years, Boeing

“The vast majority of these aircraft, as we no doubt expect, would be single-aisle fleets, 737-sized aircraft. It will make up for 85-90 per cent of the deliveries in the market place,” Darren Hulst, Deputy Vice President of Commercial Marketing, Boeing.explained, while unveiling the company’s annual India Commercial Market Outlook at New Delhi on Nov 6

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