Decks have been cleared for the long-awaited pension reforms with the union cabinet on Thursday giving approval to a proposal to bring in legislation for setting up a separate regulator for the sector. \n
The Left parties have no objection to the deployment of pension funds in the stock market so long as the funds are managed by public sector banks and financial institutions.
Insurance Regulatory and Development Authority expects decline in premium rates of fire, engineering and motor own damage covers once insurers are given the freedom to price these businesses from 2007.
IRDA seems to be sleeping. It is bothered about the well-being of the insurance companies and not about the man on the street who is buying costly Ulips.
The draft regulations for the new pension scheme likely to be out by September first week is expected to recommend fixing minimum base capital for pension fund management companies less than that stipulated for insurance companies.
The government's agenda also includes the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.
A Parliamentary panel that went into a Bill to create a pension fund regulator has favoured 26 per cent FDI in the sector, but found many lacunae in the legislation.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
Irda chairman C S Rao speaks about the need for detariffing, pitfalls to be avoided and the impact of detariffing on the insured.
The proposal has been discussed by Sebi's Committee on Rationalisation of Financial Resources, which favours setting up such a fund.
Raising concern over the underwriting skills of insurance companies to properly price products, the Insurance Regulatory and Development Authority on Monday said it would consider all factors before taking a final decision on de-tariffication of the
Currently, FDI up to 26 per cent is permitted through automatic approval route.
About 70,000 employees of public sector general insurance companies would go on a one-day strike on December 21 in protest against the proposed increase in foreign direct investment cap, outsourcing of jobs and to press for early settlement of their
The Insurance Regulatory and Development Authority on Monday mooted ways to allow consumers to switch over from one company to another for Mediclaim policies and prevent rejection of claim by insurers.
The IRDA favours for a hike in FDI cap from 26 to 49 per cent and amendments in legislations to enable greater flexibility in investment.
The Insurance Regulatory and Development Authority on Wednesday favoured a unified legislation for disaster management.
Private life insurers have asked Insurance Regulatory and Development Authority to come up with a standardised product.\n\n
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