IRDAI Current Affairs - 2020

International Financial Services Centre Authority established by GoI

The Government of India has established International Financial Services Centre Authority. The headquarters of the authority is to be established in Gandhinagar, Gujarat. Highlights The Authority was established through a notification. The notification issued by the GoI brings into effect certain effects of IFSCA Act, 2019. The authority will regulate financial markets in the International Read More…

Arogya Sanjeevani Insurance Policy: IRDAI launches Guidelines

The Insurance Regulatory and Development Authority of India (IRDAI) has provided guidelines for the health insurance providers to implement Arogya Sanjeevani Insurance Policy. The regulator had earlier made it mandatory for the insurance providers to frame a policy to provide basic coverage to at least 55% of Indian population. About the policy The “Arogya Sanjeevani Read More…

Insurance Scheme for Health Care Workers fighting COVID-19

On March 29, 2020, the Government of India approved insurance scheme for health workers that are fighting against Corona Virus. The Scheme was announced under the Pradhan Mantri Garib Kalyan Package that was announced by Finance Minister Nirmala Sitaraman on March 26, 2020. Key Features of the Scheme Under the scheme, the health workers are Read More…

RBI launches 5-year Financial Inclusion Strategy

The Reserve Bank of India has launched National Strategy for Financial Inclusion (2019-24). The main motive of the strategy is to provide access to financial services in an affordable manner. Highlights The Strategy has been launched after thorough consultation with SEBI (Securities Exchange Board of India), PFRDA (Pension fund Regulatory and Development Authority of India) Read More…

GoI merges three Insurance PSUs

The GoI will merge 3 public Sector Insurance Companies as announced in budget 2019-20. The merger includes United India Insurance Limited, National Insurance Co Limited and Oriental Insurance Company Limited. Highlights The Budget 2019-2020 did not make provision of funds for insurers and the Department of Financial Services. Therefore, the government institutions in the financial Read More…