Finmin clamps down on Irda

.....Even the Reserve Bank of India had expressed concerns about banks’ role in distributing insurance products under the proposed framework. “The new person who assumes office will have to be responsible for the newly implemented norms and it is fair enough to allow him to review the impact on all stakeholders,” said an industry source. It’s also believed that the post of member actuary at Irda will be filled after the new chairman assumes office. Currently, Purnima Gupta (Appointed actuary at Reliance Life) and Meena Kumari (deputy director – actuarial, Irda) are in the reckoning for the actuary job.........

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