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The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous [1] and statutory body under the jurisdiction of Ministry of Finance, Government of India. It is tasked with regulating and licensing the insurance and re-insurance industries in India. [ 2 ]
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The primary regulator for insurance in India is the Insurance Regulatory and Development Authority of India (IRDAI) which was established in 1999 under the government legislation called the Insurance Regulatory and Development Authority Act, 1999. [10] [11]
Food Safety and Standards Authority of India: Aug-2011: Security Market: Securities and Exchange Board of India: 12-Apr-1992: Aeronautical Tariff: Airports Economic Regulatory Authority: 12-May-2009: Insurance industry: Insurance Regulatory and Development Authority: 1999: Cost Accounting and Cost Audits: The Institute of Cost Accountants of ...
The Insurance Act has 120 sections and 8 schedules. Under it, only an Indian company, as defined and registered under Companies Act, 1956, is allowed to operate in India. Its foreign entity-owned equity should not exceed 49% as of 2015. It must have a licence from Insurance Regulatory and Development Authority of India. [4] [5]
The business of general insurance was nationalised through The General Insurance (Emergency) Provisions Ordinance promulgated on 13 May 1971 and thereby the business being carried on by 107 entities was consolidated and restructured into four companies namely The New India Assurance Company Limited, Bombay, United India Fire & General Insurance Company Limited, Madras, Oriental Fire & General ...
Shri Swarup, a former civil servant, was secretary (expenditure) and chief budget officer of the Government of India. Thereafter, he was the first chairman of the Pension Fund Regulatory and Development Authority (PFRDA). He was also a nominee director in the Securities and Exchange Board of India SEBI. Shri C K G Nair: Secretary, FSLRC
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