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It is tasked with regulating and licensing the insurance and re-insurance industries in India. [2] It was constituted by the Insurance Regulatory and Development Authority Act, 1999, [3] an Act of Parliament passed by the Government of India. [4] The agency's headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001. [5]
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 had resulted in the formation of Controller of Insurance, a regulatory authority. But following the nationalisation of major insurance companies in India, under Life Insurance of India Corporation Act, 1956 and General Insurance Business (Nationalisation) Act, 1972, its importance diminished.
Chairperson, 16th Finance Commission of India: Arvind Panagariya: 16 January 2024 Governor, Reserve Bank of India: Sanjay Malhotra: 11 December 2024 [27] Chairperson, Securities and Exchange Board of India: Tuhin Kanta Pandey: 1 March 2025 Chairperson, Insurance Regulatory and Development Authority: Debasish Panda: 12 March 2022 [28 ...
Insurance regulatory law is the body of statutory law, administrative regulations and jurisprudence that governs and regulates the insurance industry and those engaged in the business of insurance. Insurance regulatory law is primarily enforced through regulations, rules and directives by state insurance departments as authorized and directed ...
The International Financial Services Centres Authority (IFSCA) is the regulatory body for the Indian special economic zones such as the GIFT International Financial Services Centre for International Financial Services and commodity markets under the ownership of the Government of India. [3]
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 ...