Unclaimed amounts of policyholders to be transferred to the Senior Citizens’ Welfare Fund
All insurers having unclaimed amounts of policyholders for a period of more than 10 years as on 30th September, every year are directed to transfer the same to the Senior Citizens’ Welfare Fund (SCWF) on or before 1st March of the financial year. Insurers need to follow the accounting procedure as detailed in the notification dated. 21.12.2017.
Government of Punjab to provide as-interim permission for groundwater extraction.
The authority would grant ad-interim permission on the condition that the applicant shall comply with the conditions contained in the draft guidelines.
RBI releases the Report of the Internal Working Group to Review Extant Ownership Guidelines and Corporate Structure for Indian Private Sector Banks.
The report recommends promoter stake cap in long run (15 years) be raised to 26 percent from 15 percent if paid-up voting equity share capital.
The International Financial Services Centres Authority (Banking) Regulations, 2020.
The liabilities of a Banking Unit, other than the deposits raised from Qualified Individuals and Qualified Resident Individuals, shall be exempt from Cash Reserve Ratio or other such requirements.
