Insurance Funds to Infrastructure Sector

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..... Insurance Funds to Infrastructure Sector - News and Press Release Dated:- 7-12-2012 - News - Press Information Bureau Government of India Ministry of Finance 07-December-2012 18:31 IST Insurance Regulatory and Development Authority (IRDA) has informed that it has carried out a detailed review of the existing Investment Regulation including the requirement to facilitate a higher .....

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..... flow of insurance funds to infrastructure sector. In existing Regulation also exposure of any insurer to an infrastructure company has been increased to 20% as against the present ceiling of 10% as referred in Reg. 5 of the IRDA (Investment) Regulations, 2000. The limit can further be increased by another 5% in case of Debt with the prior approval of the Board. IRDA has further informed that bot .....

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..... h equity and debt instruments are considered for classification under Infrastructure for mandatory minimum obligation of 15% as against only debt instruments earlier. Mortgaged Based Securities (MBS) with AAA rating will qualify as Approved Investments and would qualify for infrastructure investments. Investments in infrastructure are excluded from the applicability of industry sector exposure .....

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..... norms. IRDA has informed that it has a policy of consultation with all the stakeholders including the Chiefs of Public Sector Insurance Companies, on amending all regulations including the Investment Regulations. The proposed amendments are placed on the IRDA website inviting public comments. The views of Insurance Advisory Committee (IAC), Life Insurance Council and General Insurance Council a .....

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..... re also sought on the proposed amendments to the Regulations. This was stated by the Minister of State for Finance, Shri Namo Narian Meena in a written reply to a question in the Lok Sabha today. ***** DSM/RS/ka - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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