MUMBAI: The Irdai on Friday, fined Reliance General Insurance Rs 1 crore in Hyderabad for routing unauthorised payouts through marketing and awareness expenses that amounted to disguised commissions. The penalty follows Irdai’s examination of transactions across FY19, FY20 and FY21. According to the regulator, the insurer channeled payments to brokers, agents, corporate agents and unlicensed…
MUMBAI: Insurers are expected to adopt more disciplined underwriting and pricing strategies as the Irdai transitions to Risk-Based Capital (RBC) norms, moving away from a ‘one-size-fits-all’ solvency model to align capital requirements with actual risk profiles. Simultaneously, the regulator has cleared the implementation of IFRS 17 (Ind AS 117), which fundamentally redefines the ‘topline’ by…
MUMBAI: With a gain of over Rs 32,000/kg in just four sessions, the unabated rally in silver continued on Friday and the white metal traded at over Rs 2.35 lakh/kg mark in the domestic market, a new all-time high level. The rally in gold also continued, though at a slower pace, with the price moving…
Silver prices climbed to fresh lifetime highs in both domestic and international markets on Friday, driven by strong global cues and thin year-end trading, according to the All India Sarafa Association.In the national capital, silver soared by Rs 9,350 to close at a record Rs 2,36,350 per kilogram on Friday, up from Rs 2,27,000 per…
The Corporate Affairs Ministry on Friday said it has not issued any circular mentioning that relaxations have been provided for additional fees and extension of timelines for filing financial statements under the Companies Law. “It has come to the notice of the Ministry of Corporate Affairs (MCA) that a fake General Circular No. 08/2025 dated…
Investors, led largely by younger buyers, purchased an estimated 12 tonnes of digital gold during January–November this year, according to data compiled by the World Gold Council (WGC) even as demand slowed after a recent regulatory caution from Sebi.The estimate is based on data from the National Payments Corporation of India (NPCI) on UPI transactions…
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The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings of…
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