Category: Regulatory Updates

  • Regulatory Updates

Press Release – IRDAI’s Single Window NOC Portal

IRDAI has issued a Press Release dated August 17, 2022 on ‘IRDAI’s Single Window NOC Portal’. Highlights of the Press Release are as follows: To increase insurance penetration, ensuring availability of insurance in every nook and

Press Release – First Hackathon – Bima Manthan 2022

IRDAI has issued a Press Release dated August 14, 2022 on First Hackathon – Bima Manthan 2022. Highlights of the Press Release are as follows: IRDAI is organizing its first hackathon – “Bima Manthan 2022” and

Circular – Applicability of Service Tax _ GST on services provided by IRDAI to Insurance

IRDAI vide ref. no. IRDAI/GA&HR/CIR/MISC/172/8/2022 dated August 11, 2022 has issued a Circular on “Applicability of Service Tax / GST on services provided by IRDAI to Insurance intermediaries”. Major highlights of the Circular are as follows:

Circular – Withdrawal of exemption from GST on services provided by IRDAI to Insurers

IRDAI vide Reference No. IRDAI/GA&HR/CIR/MISC/171/8/2022 dated August 11, 2022 has issued a Circular on “Withdrawal of exemption from GST on services provided by IRDAI to Insurers”. Major highlights of the Circular are as follows: Ministry of

Circular – Migration of BAP to new hardware and the latest software

IRDAI vide ref. No. IRDAI/GA&HR/CIR/MISC/167/8/2022 dated August 9, 2022 has issued a Circular on “Migration of BAP to new hardware and the latest software”. Major highlights of the Circular are as follows: IRDAI is in the

Exposure Draft – IRDAI (Insurance Intermediaries) (Amendment) Regulations_ 2022

IRDAI vide Circular ref. No. IRDAI/INT/ED/REG/166/8/2022 dated August 3, 2022 has issued an Exposure Draft – IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2022 [Draft Regulations] for inviting comments / suggestions, if any from the stakeholders. The Draft

Amendments to Investments Master Circular

IRDAI vide Reference No. IRDAI/F&I/CIR/INV/165/8/2022 dated August 3, 2022 has issued a Circular on “Amendments to Investments Master Circular” (Circular). Major highlights of the Circular are as follows: The relaxations are prescribed for categorisation into “Approved

Exposure Draft – IRDAI (Other Forms of Capital) Regulations_ 2022

IRDAI has issued an Exposure Draft on the “IRDAI (Other Forms of Capital) Regulations, 2022” dated August 2, 2022 (“Draft Regulations”), with an objective “to provide for effective regulatory framework for issuance of Other Forms of

Exposure Draft – IRDAI (Expenses of Management of Insurers transacting General or Health

IRDAI vide ref no. IRDAI/F&I/ED/EMT/161/8/2022 dated August 1, 2022 has issued an Exposure Draft – IRDAI (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations, 2022 for seeking comments/suggestions of the stakeholders. Major

Revised Exposure Draft – IRDAI (Expenses of Management of Insurers transacting General or

IRDAI has issued an revised Exposure Draft – IRDAI (Expenses of Management of Insurers transacting General or Health Insurance Business) Regulations, 2022 (“revised Exposure Draft”) for seeking comments/suggestions of the stakeholders. Background – The Exposure Draft