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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.
Read moreOne swallow does not a summer make. But two swallows? Possibly, especially when it comes to the rarefied sphere of financial sector regulation! We in India do not have a tradition of independent regulators. Read more
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. Read more
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. Read more
The finance ministry’s move to allow state-run insurer Life Insurance Corp of India (LIC) to own up to 30 per cent in listed companies could help ease the deadlock on the long-pending dissolution of the Special Undertaking of UTI (SUUTI). Read more
Let’s turn on its head, the argument about whether LIC should invest up to 30 per cent in any company’s equity. The government says it is the right decision, but the insurance regulator begs to differ. Read more
Supreme financial regulators like- Insurance Regulatory and Development Authority (IRDA), Securities and Exchange Board of India (SEBI), Pension Fund Regulatory and Development Authority (PFRDA) and Forward Markets Commission (FMC) should be merged into a Unified Financial Agency (UFA), suggesting legislative reforms in the financial sectors a government-appointed panel said recently. Read more
Former chairman of Life Insurance Corporation (LIC), S B Mathur, is likely to take over as the new non-executive chairman of the National Stock Exchange (NSE), the country’s largest equity trading bourse. According to industry sources, Mathur’s name is under consideration of the Securities and Exchange Board of India (Sebi) after NSE proposed it. Read more
The Insurance Regulatory and Development Authority (IRDA) has released draft guidelines of Issuance of Capital by General Insurance Companies Regulations, 2012.
Read moreThe tussle between Sahara and Sebi is increasingly bordering on the theatre of the absurd. Late on Monday afternoon, a Sahara official informed the regulator that a truck carrying a partial consignment of papers was stuck at a toll collection point in Mumbai and would be late in delivering documents relating to investors who had subscribed to debentures issued by two of its unlisted firms. Read more