IRDAI relaxes compliance requirement for life insurers
The requirement to submit quarterly ALM returns regarding “Asset Liability Management and Stress Testing” (for life insurers) is dispensed with, except for Domestic Systemically Important Insurers. However, all insurers shall continue to regularly monitor their ALM position, with appropriate internal reporting and analysis, as part of their risk management and monitoring process.
Rice Bran Fatty Acids (Quality Control) Order, 2022
The packages of Rice Bran Fatty Acid shall bear the Standard Mark under a licence from the Bureau of Indian Standards.
Companies (Registration of Charges) Amendment Rules, 2022
The amendment has exempted the charge created or modified by a banking company for loan received from RBI from the requirement of filing particulars of the charge together with a copy of the instrument, if any, creating or modifying the charge in Form No.CHG-1 or Form No.CHG-9.
IRDAI notifies Draft guidelines on Group Insurance Products under Health Insurance Business and other operational matters.
As per the draft guidelines, insurers offering group insurance should have a Board approved group insurance underwriting policy. The policy should specify the manner in which its risk and costs are analyzed and factored into the premium cost. All risk factors per unit of coverage such as individual, family, group floater, etc., should be separately analyzed and priced. Past experience and future exposures should also be critically analyzed for “Large Group”.
DCI directs dental institutions to issue advertisements against ragging through signboards, pamphlets etc before the commencement of academic year.
As per DCI Regulations on Curbing the Menace of Ragging in Dental Colleges, 2009, it is the responsibility of all the institution to ensure that no incident of ragging takes place in their dental institution and measures taken to curb it may be reviewed.
SEBI reduces timeline for listing of units of InvIT & REIT.
The SCSBs (Self certified syndicate banks), stock exchanges, depositories, intermediaries shall co-ordinate to ensure completion of listing (through public issue) and commencement of trading of units of REIT and InvIT within six working days from the date of closure of issue.
Department of Posts starts providing NPS services through online mode.
NPS is voluntary for subscription by an individual to make contributions to his/her Individual Pension Account during the working life for creating a pension corpus from which regular income will be generated after retirement / working age.
