Top Reasons for Rejection of Insurance 1) Get the car repaired after accident on own and then intimate the insurance company about the settlement. 2) Installing a CNG/LPG kit and which are not covered the kit while buying the policy. 3) The driver driving the insured car at the time of accident should not have… Read More »
Insurance Regulatory and Development Authority of India IRDAI/CAGTS/GDL/LCE/202/11/2015 18-11-2015 Reference is made to IRDAI (Registration of Corporate Agents) Regulations, 2015 (herein after referred to as “the Regulations”)which were notified by the Authority on 20.08.2015 and will be effective from 01.04.2016. These regulations shall cover Registration of Corporate Agents for the purpose of soliciting, procuring and… Read More »
Date:18-11-2015 The Insurance Regulatory and Development Authority of India (the Authority) has taken a stand that insurance sector in India would be converged with IFRS after the revised standard on Insurance Contracts viz., IFRS 4 is pronounced by IASB. The same was also conveyed to Ministry of Corporate Affairs (MCA). The MCA has considered the… Read More »
Date : Nov 19, 2015 The Reserve Bank of India today issued revised Directions necessitating prior approval for acquisition of shares or voting rights in private sector banks. These Directions contain two major changes: A person intending to acquire shares or compulsorily convertible debentures/bonds or voting rights or convert optionally convertible debentures/bonds of 5 per… Read More »
Reserve Bank of India RBI/2015-16/235 DBR. AML.No.6854/14.06.001/2015-16 November 18, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all NBFCs/ All Primary (Urban) Co-operative Banks /State and Central Co-operative Banks (StCBs / CCBs) /All Payment System Providers/ System Participants and Prepaid Payment Instrument Issuers/ All… Read More »
Reserve bank of India RBI/2015-16/236 DCBR.BPD. (PCB).Cir.No. 8/16.20.000/2015-16 Kartik 28, 1937 November 19, 2015 The Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir/ Madam Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks (UCBs) Please refer to the guidelines contained in our circular BPD. PCB. Cir. 46 / 16.20.00 /2002-03… Read More »
RBI/2015-16/237 DCBR CO. BPD.BC. No.7/16.05.000/2015-16 Kartik 28, 1937 November 19, 2015 All Banks Dear Sir/Madam Inclusion in the Second Schedule to the Reserve Bank of India Act, 1934 – Apna Sahakari Bank Ltd, Mumbai We advise that the name of “Apna Sahakari Bank Ltd., Mumbai” has been included in the Second Schedule to the Reserve… Read More »
RBI/2015-16/238 DBR.No.BP.BC.57/21.06.201/2015-16 November 19, 2015 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Non-Operative Financial Holding Company (NOFHC) – Application of Capital Adequacy Norms Please refer to the Guidelines for Licensing of New Banks in the Private Sector issued on February 22, 2013. The guidelines inter alia require… Read More »
RBI/2015-16/239 DBR.No.FSD.BC. 58/24.01.007/2015-16 November 19, 2015 All Scheduled Commercial Banks (excluding RRBs) Dear Sir/Madam Provision of Factoring Services by Banks – Review Please refer to our circular DBR.No.FSD.BC.32/24.01.007/2015-16 dated July 30, 2015 on Provision of Factoring Services by banks- Review. 2. In paragraph 4(a), it has been mentioned that in order to ensure that the… Read More »
RBI/2015-16/240 Master Direction No.DBR.PSBD.No.56/16.13.100/2015-16 November 19, 2015 Prior Approval for acquisition of shares or voting rights in Private Sector Banks: Directions, 2015 In exercise of the powers conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949 and pursuant to the Section 12B of the Banking Regulation Act, 1949 as amended by… Read More »