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IRDAI forms high-level panel to review regulations on Insurance Marketing Firm
The panel will recommend guidelines by July 31 on the areas on which the existing regulations are silent and ways to further strengthen the channel by taking up the products which fall under the jurisdiction of other financial sector regulators, including creating avenues for discussions with the other regulators, said Sujay Banarj, member(Distribution), IRDAI
IRDA Board to meet on June 29 to clear new Reinsurace Regulations
The revamped regulations, while setting the order of preference for placing the reinsurance business in the country, continues the provision of “first right of refusal’ with the GIC Re and then cascading down to foreign reinsurers, other ‘Indian reinsurers’ and cross border reinsurers (CBRs), fulfilling certain laid-down criteria
India suffering from worst water crisis in its history: NITI Aayog
Currently, 600 million Indians face high to extreme water stress and about two lakh people die every year due to inadequate access to safe water, said the NITI Aayog report on Composite Water Management Index (CWMI) released on Thursday which aims to enable effective water management in Indian states in the face of this growing crisis
Govt mulls raising pension limit to up to Rs 10,000/month under APY
“Currently, we have five slabs of pension from Rs 1,000-5000 per month. There have been a lot of feedback from the market asking for higher pension amounts because many people feel that Rs 5,000 at the age of 60 years, 20-30 years from now, will not be sufficient.We have placed this proposal with the government that it should be increased to up to Rs 10,000,” Contractor said.
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