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IRDAI Panel suggests competitive returns for life insurance customers

Dec 17, 2017

Panel has suggested to “lower the mandatory proportion of ‘G-Secs’ in the Life Fund and the Pension and General Annuity Funds and allow for higher exposure in alternative higher yielding assets (like equity or property) or high rated corporate bonds” to help insurers generate a high gross return on investments so that insurance savings products can compare favourably in the financial savings space

Government to bear MDR charges on digital transactions up to Rs 2,000

Dec 16, 2017

The move will have an impact of Rs 2,512 crore on the exchequer.The minister said since such transactions account for sizable percentage of transaction volume, the decision will help move towards less-cash economy. Prasad further said digital transactions during April -September 2017 were valued at 2.18 lakh crore.This amount is estimated to be Rs 4.37 lakh crore for the whole of the current financial year.

IRDA extends time limit for reviewing  IFRS 17 till 30th June, 2018

Dec 13, 2017

It was also felt that considering the magnitude of impact the implementation of the standard is likely to have on the Insurance industry in India, as well as the financial statements and disclosures of insurers, it requires a detailed study before implementation, said IRDAI..

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