Draft IRDAI (Obligations of an Insurer in respect of Motor Third Party Insurance Business) Regulations, 2022.
The objective of these Regulations is to specify minimum third party motor insurance business that the insurer carrying on general insurance business is required to underwrite under section 32D of the Insurance Act, 1938.
SEBI issues circular to increase awareness regarding online mechanisms for investor grievance redressal.
All Recognized Stock Exchanges including Commodity Derivatives Exchanges/ Depositories / Clearing Corporations are advised to Make necessary amendments to the relevant bye-laws, rules and regulations and Communicate to SEBI, the status of the implementation of the provisions of this circular through the Monthly Development Report(MDR).
RBI releases “Eligibility criteria for entities to be categorised as Specified User under clause (j) of Regulation 3 of the Credit Information Companies (Amendment) Regulations, 2021”
As per the requirements, a ‘specified user’ should be a company incorporated in India or a statutory corporation established in the country. The governing statute of the Statutory Corporation or Memorandum of Association of the Company, as the case may be, should allow the business/activity of processing of information for the support or benefit of credit institutions.
MoHFW issues revised guidelines for home isolation of mild /asymptomatic COVID-19 cases.
As per the guidelines, patient should be clinically assigned as mild/ asymptomatic case by the treating Medical Officer. Further a designated control room contact number at the district /sub district level shall be provided to the family to get suitable guidance for undertaking testing, clinical management related guidance, assignment of a hospital bed, if warranted.
Revised import policy condition for gold
The amended policy allows import of gold in unwrought forms through nominated agencies notified by IFSCA for qualified jewellers through India International Bullion Exchange
RBI issues Master Circular on Bank Finance to Non-Banking Financial Companies (NBFCs).
The ceiling on bank credit linked to Net Owned Fund (NOF) of NBFCs has been withdrawn in respect of all NBFCs which are statutorily registered with RBI and are engaged in principal business of asset financing, loan, factoring and investment activities.
The International Financial Services Centres Authority (Insurance Intermediary) (Amendment) Regulations, 2021.
The IFSC insurance intermediary office (IIIO) shall submit to the Authority a paid-up capital and net-worth certificate issued by its statutory auditor, a practicing Chartered Accountant in India, a practicing Company Secretary in India, a practicing Cost Accountant in India or any other person with appropriate qualification, as specified by the Authority, on half yearly basis.
The International Financial Services Centres Authority (Registration of Insurance Business) (Amendment) Regulations, 2021
An applicant for Registration of Insurance Business shall provide a certificate from a practicing Chartered Accountant in India, a practicing Company Secretary in India, a practicing Cost Accountant in India or any other person with appropriate qualification, as specified by the Authority, certifying that all the requirements of the Act have been complied with by the Applicant.
