MFs seek KYC easing, in line with insurance sector

The mutual fund (MF) sector has again indicated that compared to the insurance sector, it is being treated in a step-motherly manner. This time, it is a Budget proposal that has irked officials in the sector. The proposal said a customer could buy an insurance policy if he/she had a bank KYC (know-your-customer). It didn’t include MFs.

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Financial literacy and consumer education on insurance in India

The IRDA along with other stakeholders of the industry, has a responsibility of improving financial literacy in the country as well as to impart consumer education in insurance. Towards this end, IRDA has been working on and has implemented various initiatives.

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Insurance, MFs cos may get nod for commodity futures

The government is in talks with capital markets regulator SEBI and insurance body IRDA to ensure that mutual funds and insurance firms are also allowed to enter the commodity futures markets. This follows a similar move to enable banks to enter the segment by amending the banking regulation law.

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IRDA rules out hiking investment limit for insurers

Terming the finance ministry’s plans to hike the investment ceiling for state-owned Life Insurance Corporation to 30 per cent as ‘imprudent’, insurance regulator IRDA recently called for a more conservative approach and ruled out hiking the cap for private sector insurance firms.

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