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Insurance Regulatory and Development Authority of India (IRDAI) has released a draft regulation for an insurance electronic marketplace (IEM) Bima Sugam, the one-stop solution for all stakeholders, including customers, insurers, intermediaries or insurance intermediaries and insurance agents.
Indian banks face a slowdown in growth and profit margins as deposits lag despite higher interest rates.
Expressing concerns over unscrupulous entities and online platforms falsely claiming to be registered intermediaries and offering huge returns, market regulator Securities and Exchange Board of India (SEBI) urged investors to exercise utmost vigilance and due diligence before entrusting their funds to any such entity.
Ronnie Screwvala, serial investor and Co-founder/Chairperson of edtech platform upGrad, on Wednesday slammed Byju's and its Founder and CEO Byju Raveendran for the company’s downfall, saying that “one rotten apple” in the Indian edtech space should not affect the entire edtech sector.
The Income Tax (I-T) department is learnt to have prepared an assessment report on how insurers used a string of intermediaries to pay off extra commission—over and above allowed under regulations — to their agents selling insurance policies, says a report. The I-T department estimates the benami amount - the quantum of excess, unauthorised payment - to be more than Rs25,000 crore, sources told Economic Times (ET)