Insurance Regulatory and Development Authority of India has constituted a committee to review the existing bank insurance framework.

Insurance Regulatory and Development Authority of India has constituted a committee to review the existing bank insurance framework.

Daily Current Affairs / Insurance Regulatory and Development Authority of India has constituted a committee to review the existing bank insurance framework.

Change Language English Hindi

Category : Business and economics Published on: November 09 2023

Share on facebook

In November, 2023, the Insurance Regulatory and Development Authority of India (IRDA) has constituted a committee to review the existing bank insurance framework.
This committee is headed by J. Meena Kumari will do it.
This committee will also review the efficiency of complaints of mis-selling/forced selling of policies.
It will also study the effectiveness of the existing bancassurance model and recommend ways to improve efficiency.
It will explore best practices adopted internationally and suggest amendments to be implemented on domestic rules.
This committee will submit its report in 2 months.
Following the recommendations of the Malhotra Committee report, the Insurance Regulatory and Development Authority (IRDA) was formed in 1999 as an autonomous body to regulate and develop the insurance industry.
IRDA was incorporated as a statutory body in April, 2000.
Its headquarters is located in Hyderabad.

Recent Post's

HUL appoints Rajneet Kohli as Executive Director of the Indian Foods Business Unit.
Read More....
Maruti Suzuki India Ltd. appoints Sunil Kakkad as Additional Director and Whole-time Director.
Read More....
Payal Kapadia's film All We Imagine as Light wins Best Feature Film at the 7th Critics’ Choice Awards.
Read More....
Former Australian cricketer Steve Waugh appointed to the Advisory Board of the Centre for Australia-India Relations.
Read More....
India launches nuclear mission with a target of 100 GW energy production by 2047.
Read More....
Tripura awarded by MoHFW for outstanding performance in the TB Free India campaign.
Read More....
President Droupadi Murmu inaugurated the National Environmental Conference-2025, organized by the National Green Tribunal in New Delhi, highlighting collective efforts for environmental protection and sustainable development.
Read More....
Under Operation Brahma, the Government of India sent 15 tons of relief material to the people of Myanmar affected by the severe earthquake.
Read More....
Manisha Bhanwala clinched India’s first gold medal in the Asian Wrestling Championship 2025.
Read More....
SBI's C S Setty elected as Chairman of Indian Banks' Association.
Read More....