Adopt integrity pact to check graft: CVC tells banks, FIs

Last Updated: Friday, February 27, 2015, 15:06

The concept of Integrity Pact (IP) envisages an agreement between the prospective vendors or bidders and the buyer committing the persons or officials of both the parties not to exercise any corrupt influence on any aspect of a procurement contract.

Up to 26% FDI in insurance allowed via automatic route

Last Updated: Friday, February 20, 2015, 20:53

The government on Friday said up to 26 percent FDI in insurance companies will be allowed through automatic route, as it notified rules to increase foreign direct investment ceiling in the sector to 49 percent.

Insurance regulator mulls no fee for change in nomination

Last Updated: Sunday, January 25, 2015, 11:13

Observing policyholders' right to effect changes in nomination, sectoral regulator IRDA is proposing to do away with the practice of charging fee for such alterations by life insurance companies.

Irda modifies group life insurance schemes for fincl entities

Last Updated: Monday, December 29, 2014, 22:01

IRDA on Monday clarified that under lender-borrower scheme life insurance companies will make payment of outstanding loan to lenders in case of eventuality to an individual covered under the group insurance scheme.

Premium for product in lieu of EDLI need not be 0.5% of wages

Last Updated: Wednesday, December 24, 2014, 15:21

This directive will facilitate employers to buy group insurance schemes for their workers from insurance companies at a price lower than 0.5 percent of wages as required under EDLI.

Life insurers seek separate tax deduction limit of Rs 1.5 lakh

Last Updated: Friday, December 19, 2014, 20:37

It would encourage long-term savings and help incremental flows come into life insurance sector, LIC said in a pre-budget memorandum submitted to Finance Ministry last week.

Govt inches closer to raising foreign investment cap in insurance to 49%

Last Updated: Wednesday, December 10, 2014, 19:07

The hike in foreign investment limit is estimated to attract about Rs 25,000 crore of overseas funds in the sector.

Insurance stocks rally up to 8% on FDI hope

Last Updated: Wednesday, December 3, 2014, 21:38

Stocks of insurance companies surged up to 8.4 percent Wednesday on hopes of hike in foreign direct investment (FDI) limit in the sector.

LIC's claim settlement better than pvt insurers: Irda

Last Updated: Thursday, January 2, 2014, 15:41

Private insurance companies fared poorly in terms of settlement of death claims in 2012-13 as compared to state-owned LIC, says sectoral regulator Irda.

Irda to charge tax on providing services to players

Last Updated: Wednesday, January 1, 2014, 20:33

Insurance regulator Irda will charge service tax from industry players on providing services such registration and renewal.

Adopt reasonable font size in policy forms: IRDA to insurers

Last Updated: Tuesday, December 10, 2013, 22:33

Insurance regulator IRDA Tuesday asked all insurers to adopt a reasonable font size so that the policy holders are not at discomfort while reading forms.

GICA to seek support of public against Insurance Bill

Last Updated: Saturday, November 23, 2013, 19:50

The General Insurance Employees' Association will seek support of the public, particularly over 30 crore policyholders, to defeat the government move to pass the Insurance Bill in Parliament, which would adversely affect the public insurance sector, a top association official said.