The life insurance sector might see the year end on a positive note, with the largest entity, Life Insurance Corporation of India (LIC), optimistic on growth. LIC has seen 40 per cent sequential growth in new premiums during March.
Digitised polices might soon be mandated for insurance policies with a premium of above Rs 50,000. Sector sources said revised guidelines are soon to be brought out by the insurance regulator that will make it compulsory to have insurance only in an
The Income Tax department has issued over two million 'intimations' and collected Rs 3,569 crore in the current financial year from those taxpayers who had either not filed their tax returns or did so incorrectly.
Fifteen years after the privatisation of insurance, the archaic, pre-Independence laws governing the business will give way to updated rules once the Insurance Laws (Amendment) Act, passed by both the Lok Sabha and the Rajya Sabha, is notified.
The insurance industry is bracing itself for a host of new regulations by the Insurance Regulatory and Development Authority of India (IRDAI) as the Insurance Bill has been approved by both the Houses of the Parliament.