Per partecipare al concorso, Concorrente deve accedere a Moneycontrol e predire il valore di chiusura Sensex per il giorno di entrata concorrenti sarà valida solo se hanno una valida e verificati concorrenti id-mail deve registrarsi nel prima indovinare il valore di Sensex Contest chiusura si chiude in ogni giorno di mercato alle 2:30 PM (IST) I concorrenti sono autorizzati a cambiare le loro congetture fino a 2:30. Se cambiano dopo 2:30 di entrata PM, their saranno contrassegnati come un'ipotesi per i prossimi partecipanti al giorno di trading con l'ipotesi più vicina e risposta corretta sarà il vincitore vincitore sarà deciso alle 5:00 PM (IST) vincitore sarà comunicato dal email concorso inizia dal 18 gennaio 2017 e termina il 7 febbraio 2017 gratificazione per i premi inizieranno dal 23 gennaio 2017 e terminerà il 3 febbraio 2017 un solo vincitore willl poter beneficiare del premio di buono del valore di Rs. 5OOO sarà dato al vincitore di ogni giorno tutti i giorni durante il concorso Mini iPad 2 32GB sarà dato al vincitore il giorno budget Questo concorso è aperto per i cittadini indiani di età superiore ai 18 Vincitore dovrebbe avere una carta di PAN valida per rivendicare il premio The premio si estingue dopo 30 giorni, se non è sostenuto Moneycontrol si riserva inoltre il diritto di modificare il Andor premio e numero di vincitori al giorno, in qualsiasi momento durante la gara a suo insindacabile giudizio. I premi devono essere non trasferibili e devono essere accettati come assegnato. Nessuna richiesta di denaro o di altra sostituzione è fatto per Moneycontrol Devo essere registrati all'utente di giocare questa sfida Al fine di giocare questa sfida, è possibile accedere con un ID Moneycontrol registrato o account di accesso di social network come Facebook, Twitter, Google o Yahoo . C'è un limite al numero di osservazioni che un utente può prendere No, un utente può fare qualsiasi numero di tentativi fino al limite di tempo specificato cioè 14:30 per quel particolare giorno e post che per il giorno di negoziazione successivo. Come può svolgere un utente I Grandi Utenti Sensex Sfide bisogno di effettuare il login con il suo ID utente valido e digitare il valore di chiusura di Sensex per quel giorno. Come si diventa un vincitore settimanale Le seguenti condizioni devono essere soddisfatte per un partecipante di diventare un vincitore settimanale Un partecipante con il maggior numero di punti e vince indovinare più vicini. In caso di pareggio la persona che ha messo in ipotesi in precedenza vince. Quanti vincitori saranno dichiarati ogni giorno Tre vincitori saranno dichiarati ogni giorno. Mentre l'ipotesi migliore di Sensex ottiene cinque punti. Altri ottengono tre punti e la terza ipotesi ottiene un punto. A che ora saranno i vincitori giornalieri e settimanali annunciati giornaliera I vincitori saranno annunciati ogni giorno di negoziazione a 5:00 PM (IST) e vincitori settimanali saranno annunciati ogni Venerdì alle 05:00 (CET) Quali sono le condizioni per una persona che deve essere ammissibili come vincitore giornaliera o settimanale un partecipante deve soddisfare i seguenti requisiti: un utente dovrebbe avere una valida verificati e-mail id utente Moneycontrol id Solo per un cittadino indiano di età superiore ai 18 Vincitore dovrebbe avere una carta di PAN valida come sarà il vincitore informato sulla sua vincita Il vincitore sarà informato attraverso la loro e-mail registrato id. A. Entrata in questo concorso implica l'accettazione dei seguenti termini e condizioni: 1. Il concorso è aperto solo ai cittadini indiani residenti in India, e che sono 18 anni di età o più. I dipendenti, funzionari, direttori, di E-diciotto Ltd e la società di hosting della piattaforma Contest e delle loro entità affiliate ei loro rispettivi dipendenti, familiari più stretti (genitori, figli, fratelli e coniuge) e le persone che risiedono nella loro stessa economia domestica non sono ammissibili per entrare o vincere un premio. 2. Per partecipare al concorso, Concorrente deve accedere a Moneycontrol e predire il valore di chiusura Sensex per la giornata. Con l'iscrizione al concorso, ogni partecipante accetta le regole del concorso e garantisce che lui o lei ha rispettato tutti i requisiti stabiliti nelle norme AMP termini e le condizioni. 3. Tutte le comunicazioni verranno inviate solo tramite ID raccomandate utilizzato per la registrazione. ingresso concorrenti sarà valida solo se hanno una e-mail-id valido e verificato. Registrazione sarà riconosciuto da una mail di conferma da Moneycontrol. I concorrenti partecipanti sono tenuti a fornire informazioni accurate. 4. I partecipanti possono partecipare al concorso i seguenti termini: a. Partecipante deve fornire valide informazioni PAN chiavetta. b. Moneycontrol E-Diciotto Limited ha il diritto di chiedere ulteriori prove documentali delle informazioni. Se viene effettuata una tale richiesta il partecipante deve rispettare entro 3 giorni dalla data della richiesta viene fatta, in mancanza della quale il partecipante può essere squalificato dalla partecipazione al concorso. c. Partecipante dovrebbe fare in modo di entrare e controllare il vostro id e-mail e numero di cellulare durante la registrazione. d. I concorrenti sono autorizzati a cambiare le loro congetture fino a 2:30. Se cambiano dopo 2:30, la loro voce sarà contrassegnata come una supposizione per il giorno di negoziazione successivo. e. I partecipanti possono richiedere fino al concorso solo durante lo slot data e l'ora registrato. f. Partecipante può partecipare al concorso solo slot di tempo specificato. g. I concorrenti devono firmare prima di indovinare il valore della Sensex chiusura. h. I partecipanti saranno responsabili per fare tutti gli accordi per partecipare al concorso, che include il computer, connessione ad internet costante, potere eseguire il backup, ecc L'Organizzatore non è responsabile per qualsiasi guasto tecnico da parte dei partecipanti finiscono. 5. I partecipanti o vincitori possono essere squalificati per uno dei seguenti motivi: a. Il participantwinner non è ammissibile in base ai requisiti di ammissibilità. b. Il participantwinner ha fornito informazioni errate o non corrette nei confronti dei dettagli ricercati dal partecipante. c. Il participantwinner non ha rispettato le regole del concorso. d. Il partecipante è coinvolto in attività fraudolente o non aderenza di queste condizioni termini di amplificatori o di qualsiasi altre leggi applicabili. In tali casi, Moneycontrol (E diciotto Ltd) si riserva il diritto di squalificare il partecipante e dichiarare il prossimo partecipante qualifica come il vincitore o meno dichiarare qualsiasi vincitore a tutti. 6. comunicazioni relative ai vincitori del concorso a. I vincitori settimanali finali saranno annunciati ogni venerdì alle 05:00 (CET) e vincitori settimanali saranno avvisati tramite l'e-mail id registrato. b. Nel caso in cui qualsiasi premio offerto al Concorso non è avvalsa raccolte dal rispettivo vincitore entro 30 giorni dalla dichiarazione di vincitore Moneycontrol E-diciotto Ltd a causa di qualsiasi motivo tale premio decadrà e incamerati e così il vincitore non avrà alcuna pretesa nei confronti Moneycontrol E-diciotto Ltd, i suoi partner, agenti, fornitori di servizi, amministratori, dipendenti, ecc c. Partecipante comprende e concorda sul fatto che Moneycontrol E-diciotto Ltd si riserva il diritto assoluto di cambiare il Andor premio e numero di vincitori al giorno, in qualsiasi momento durante la gara a suo insindacabile giudizio. d. Moneycontrol E-diciotto Ltd non potrà essere ritenuta responsabile per qualsiasi ritardo o perdita che può essere causato nella consegna dei beni e dei servizi o dei premi. e. I premi per questo concorso devono essere non trasferibili e devono essere accettati come assegnato. Nessuna richiesta di denaro o di altra sostituzione è fatta Moneycontrol. I premi non sono trasferibili. I premi assegnati a beneficio degli utenti e dovrebbero essere utilizzati solo dall'utente. f. Non ci sono sostituzioni o di cambio del premio, diversi da quello che viene descritto nella comunicazione inviata al vincitore sono ammesse in nessun caso. Tuttavia, Moneycontrol E-diciotto Ltd si riserva il diritto di sostituire il premio cambiamento Andor o uno di essi a causa della non disponibilità del Premio, senza alcuna intimazione o di notifica, per iscritto o in altro modo al vincitore. g. Il vincitore dovrebbe avere una carta di PAN valida per rivendicare il premio. h. Moneycontrol (E-Diciotto Ltd) non sarà carico delle spese aggiuntive in relazione al premio. io. Moneycontrol E-diciotto Ltd non resistere alcuna garanzia e non rilascia alcuna dichiarazione circa la qualità, l'utilità, la dignità, la consegna o meno dei beni e servizi o il premio offerto. Moneycontrol (E-Diciotto limitata) per qualsiasi ritardo o perdita che può essere causato nella consegna dei beni e dei servizi o dei Premi o qualsiasi richiesta di danni perdite che possono derivare da uso o meno di eventuali servizi merci premi avvalsa dal vincitore sotto la concorso. j. Il vincitore sarà utilizzare i premi interamente a proprio rischio e dovrà manlevare e tenere il Moneycontrol E-diciotto Ltd innocuo per qualsiasi incidente, danno, la morte, i danni, i costi di perdita di Andor sostenuto dal vincitore a seguito del possesso o l'uso di premi ha vinto al Concorso. K. Il premio non comprende: trasferimenti nazionali, alloggio, spese personali, assicurazione, Governo Prelievi amp tasse o spese accessorie, diversi da quelli in cui detto. l. Qualsiasi imposta o altre passività o oneri da pagare al governo o qualsiasi altro authoritybody legale o qualsiasi stabilimento partecipante, che può sorgere o fruiti dal vincitore a causa di fornitura del premio, devono essere al solo conto del vincitore. Fiscale prelevata alla fonte, se del caso, il valore monetario del Premio sarà a carico del vincitore. m. Tutte le questioni interroga reclami lamentele relative al premio, se del caso, deve essere indirizzata al feedbackmoneycontrol. Lo stesso deve essere trattato all'interno di un periodo di 7 giorni dopo la data di ricezione. un. La partecipazione al concorso è volontaria. b. La grande sfida Sensex sarà condotta online attraverso la nostra piattaforma di valutazione. c. Utilizzando questo portalwebsiteplatform, l'utente accetta di aver letto, compreso e accettato le regole, i termini amp condizioni del concorso. Con l'accettazione delle Condizioni amp Condizioni del Grande Sensex sfida, si sono tenuti da un codice d'onore a raccogliere la sfida, senza alcun aiuto o il sostegno degli altri e in modo equo. d. La partecipazione al concorso implica l'autorizzazione a utilizzare il nome dei vincitori e la fotografia (tutti a E-diciotto Ltd Moneycontrols discrezione) per la pubblicità futuro, la pubblicità in qualsiasi e tutti i media ora o futuri, in tutto il mondo a tempo indeterminato, senza alcun compenso aggiuntivo, notifica o autorizzazione. e. Partecipante accetta che i dati personali, in particolare nome e id-mail, possono essere trattati, condivisi e altrimenti utilizzati per le finalità e nell'ambito del Concorso e tutte le altre finalità di cui nei termini e condizioni stabilite nel presente documento. I dati potranno essere utilizzati da Moneycontrol E-diciotto Ltd, al fine di verificare l'identità partecipanti, indirizzo e-mail, e altri dettagli necessari o per verificare altrimenti i partecipanti ammissibilità di vincere premi al concorso. f. Questi termini e condizioni sono applicabili a tutti i partecipanti che partecipano al grande concorso Sensex Challenge. Un partecipante può partecipare al grande concorso Sensex sfida solo se heshe accetta i termini e le condizioni. g. Una volta che il partecipante ha registrato, tale partecipante non è possibile effettuare alcun cambiamento in nome di un partecipante a un individuo diverso. h. Eventuali controversie derivanti da questo è soggetto ad essere competente in via esclusiva l'alta corte di Mumbai. io. Il sito può fornire collegamenti ipertestuali annunci eo a siti di terzi. Questi siti non sono di proprietà o controllati da Moneycontrol E-diciotto Ltd. Si prega di notare che Moneycontrol E-diciotto Ltd non potrà essere ritenuta responsibleliable informazioni personali che i terzi raccolgono, memorizzare e utilizzare attraverso il loro sito. Partecipante deve sempre leggere l'informativa sulla privacy di ciascun sito visitato da himher. j. Tutte le imagesvisuals del Premio nelle comunicazioni sono solo indicativi. K. In tutte le questioni relative al concorso, la decisione di Moneycontrol E-diciotto Ltd sarà definitiva e vincolante a tutti gli effetti. l. Questi termini e condizioni devono essere in aggiunta e non in sostituzione deroga al Regolamento del Concorso o altre regole notificate dagli Moneycontrol E-diciotto Ltd di tanto in tanto. m. Moneycontrol E-diciotto Ltd si riserva il diritto di modificare il cambiamento in tutto o in uno qualsiasi dei termini applicabili alla grande sfida Contest Sensex senza assegnare alcuna motivazione o senza alcuna intimazione preventiva di sorta. Moneycontrol E-diciotto Ltd si riserva inoltre il diritto di modificare interrompere la gara senza assegnare alcuna motivazione o senza alcuna intimazione preventiva di sorta. Le modifiche apportate alle norme saranno pubblicate su questo sito nelle regole section. We ritengono che muove il mercato può essere previsto con l'uso di analisi tecnica e fornisce opportunità per l'investitore trader tecnico, nuovo o con esperienza, per fare soldi. Il trucco è una guida puntuale e affidabile. Tutto questo concorre a formare la nostra quotidiana Newsletter. Per essere in grado di identificare e condividere le opportunità commerciali concreti e coerenti nei mercati finanziari sulla base di sistemi auto-sviluppato affidabili ricerca solida. mercato si muove può essere previsto con l'uso di analisi tecnica. Mercato offre opportunità per il trader tecnico nuovo o con esperienza, per fare soldi. Il trucco è una guida puntuale e affidabile. Tutto questo concorre a formare la nostra quotidiana Newsletter. La newsletter contiene la saggezza di mercato di Sudarshan Sukhani, Indias noto e ammirato analista tecnico. Esso comprende magazzino dettagliata, idee analisi di mercato. Facciamo affidamento esclusivamente su analisi tecnica per le nostre decisioni di trading reale. Il nostro Backbone: software grafici E 'fondamentale avere il giusto software grafici di prendere i mestieri giusti. Usiamo l'Analizzatore di tendenza, un software grafici e analisi professionale che viene fornito con state-of-the-art strumenti. Essa aiuta a determinare: Trend, Momentum per azioni, futures, commodities, e NSE moneta di scambio. Riconoscere le opportunità consistenti in: Azioni, Futures, Opzioni, Metalli, Valute Presidente e Amministratore Delegato Sudarshan Sukhani è uno dei Indias più noti analisti tecnici. Egli è un Certified Financial Tecnico, un riconoscimento dato dalla Federazione Internazionale di analisti tecnici, Stati Uniti d'America ed è anche il presidente dell'Associazione degli Analisti tecnici (ATA) dell'India. Lui è una presenza costante come un analista di mercato su Moneycontrol, CNBC-TV18 e altre piattaforme di primo piano. Lui è un chartist qualificato e ha condotto più di cinquanta seminari su analisi tecnica. Egli è anche l'autore di negoziazione dei mercati, un libro in testa alle vendite sul attuabili idee stock trading. A tempo pieno operatore di borsa dal 1993, ricerca Sig Sukhanis comprende centinaia di libri, metodi di corsi di trading. Nel 1996, è stato uno dei primi utenti di analisi tecnica automatizzata in India, e continua a seguire il percorso di trading sistematico. Per ottenere l'accesso a programmi di posta su una base in tempo reale su di voi mobili, accedere a m. moneycontrolgamechangers Se non siete soddisfatti al 100 Sudarshan Sukhani. semplicemente di comunicare entro 7 giorni e l'importo integrale sottoscrizione sarà rimborsato. Anche in seguito, se si cambia idea, si riceverà un rimborso pro-rata per il resto del periodo di validità dell'abbonamento. Indice Nifty: vista generale del mercato Ogni aspetto del indice Nifty è analizzato su grafici giornalieri, e talvolta sui grafici settimanali. Settimanale vengono analizzati per identificare i trend di lungo periodo. L'analisi include breve termine, trend di medio e primario di indice insieme al suo supporto e resistenza. Vista sono date per i commercianti di indice. Raccomandazioni sono previste a breve termine e di scambio di posizione con il livello di ingresso e stop loss. La Newsletter comprende anche vista del mercato complessivo e grafici con annotazioni di Nifty, Banca Nifty e CNX IT. Esso copre anche i settori del mercato azionario che superano, underperform e possono essere sottoposti a un cambiamento di leadership. Metalli preziosi, valute, mercati mondiali, sono anche riviste periodicamente, come e quando rilevante. Analisi Tecnica: CONCEPTS STRATEGIE Analisi Tecnica Concetti Strategie rilevanti sono spiegate di volta in volta utilizzando grafici. Cassa e Futures: Idee La Newsletter include le scorte che possono rendere di tendenza si muove in breve termine. La maggior parte delle idee spiegherà le indicazioni tecniche dietro lo stesso. La maggior parte di loro possono anche contenere le perdite di arresto così come descrivere le condizioni in cui dovrebbe o non dovrebbe essere preso il commercio. Nifty, BANCA NIFTY e CNX strategie IT per il commerciante di oscillazione La Newsletter sarà anche includere opzioni Nifty e Banca Nifty Opzioni strategie di breve termine, così come per la costruzione di reddito. Sarà anche condividere idee in oro, argento Valute, come e quando interessanti opportunità di emergere. Il periodo di detenzione tipico delle nostre medie idee a breve termine 2 o 3 giorni (a volte meno in ambienti di mercato mosso). Spesso, le idee più lungo termine sono dato che hanno un periodo di un minimo di 5 giorni fino a molte settimane azienda. Tutte le idee di cui sono tracciati regolarmente. Disclaimer: avvisi via SMS sono un servizio gratuito offerto da poweryourtrade ai suoi abbonati. Questi SMS vengono inviati ogni giorno su una base in tempo reale, ma li riceve in tempo dipende interamente l'operatore. Stiamo lavorando con gli operatori al fine di garantire un servizio veloce e migliore per la consegna di SMS. Nel frattempo, vi preghiamo di controllare il sito per gli aggiornamenti, dove garantiamo informazioni puntuale e tempestivo. 21 febbraio 2017 Nifty chiude sopra 8900 l'indice ha mantenuto la sua tendenza al rialzo per la seconda sessione consecutiva Martedì, guidato da banche NBFC e PVT trend di breve termine è fino indice bancario è scambiato vicino ai relativi highs di tempo di vita rimane a lungo con una stringere fermare il trend di breve termine è ora in BANCA NIFTY. Siamo lungo nell'indice. Se vuoi per l'acquisto in solo le banche PVT. Discuteremo anche le scorte BHARATFORG e HDFC con il commercio. Per ognuno di questi stock, ne analizza le foto tecnico identificare traffici con stop loss e target. Discuteremo un concetto di negoziazioni in un mercato CHOPPY nelle nostre ultime REVIEWS. Shares segmento di Reliance Industries ingrandita oltre il 10 per cento nel commercio Mercoledì, un giorno dopo che il presidente companys Mukesh Ambani rivelato nuovi piani tariffari per il suo braccio di telecomunicazioni Reliance Jio. Wed, 22 Feb 2017 13:45:20 0530 Su come presidente degli Stati Uniti Donald Trumps politiche protezionistiche possono influenzare le scorte IT e farmaceutica, Rahul Ajmera, CEO, ufficio degli Stati Uniti, IIFL Institutional Equities, ha detto Trump è stato in carica per soltanto quattro settimane e è troppo presto per speculare. Wed, 22 Feb 2017 12:52:23 0530 Il mercato continua a pollici fino inesorabilmente con il supporto di flussi di fondo nazionale, ma Saurabh Mukherjea di Ambit Capital è prudente considerare il visibile sottostante debolezza macro. Wed, 22 Feb 2017 10:53:07 0530 I mercati globali sono stati interessanti e di supporto. Sul fronte interno, anecdotally così, come figure dure suggeriscono che ulteriori risparmi finanziari sono stati dispiegati in a patrimonio netto attraverso il fondo comune e vari itinerari, che sta guidando il mercato in questo momento, Dipan Mehta ha detto. Tue, 21 Feb 2017 19:02:45 0530 Jyotivardhan Jaipuria fondatore e amministratore delegato, Veda Investment Managers dice, l'India ha sottoperformato i mercati emergenti e si aspetta che i mercati subiscono una correzione 5-7 per cento. Tue, 21 Feb 2017 16:38:04 0530 Jim Walker di Asianomics è preoccupato per l'aumento dei prezzi al consumo e il modo in cui possono influenzare il mercato. Per quanto i prezzi al consumo pick up, i responsabili politici, ha detto, saranno costretti a stringere la politica, mentre la crescita economica aumenta. Tue, 21 Feb 2017 13:48:29 0530 Il 50-share Nifty ha avuto un rally fenomenale negli ultimi otto settimane, ma Gautam Shah, Direttore associato analista tecnico di JM Financial sente mercati sono ora ad un importante punto di svolta. Egli vede poca possibilità di indici che colpiscono i livelli di tempo di vita nel periodo corrente. Tue, 21 Feb 2017 11:55:46 0530 L'acquisto azioni proprie annunciato da Tata Consultancy Services è un buon inizio per il settore IT per tornare avanzo di cassa agli investitori, ma anche di migliorare il rendimento dei guadagni (ROE), dice Nilesh Shah di Envision Capitale. Tue, 21 Feb 2017 11:38:36 0530 Anche se l'ottimismo intorno India è abbastanza elevato, gli investitori stranieri stanno percorrendo con cautela, scegliendo di aspettare che i guadagni del quarto trimestre prima di prendere le chiamate di investimento, dice GV Giri, responsabile della ricerca presso IIFL istituzionali Equities parlando con CNBC-TV18 dal margine della 2-giorni Conferenza IIFL Intraprendente India. Tue, 21 Feb 2017 09:34:25 0530 Parlando con CNBC-TV18, esperto di mercato Ashwani Gujral ha detto che Nifty è a soli 100 punti di distanza dal suo precedente alto, che dovrebbe attraversare come Bank Nifty è mantenere sopra i suoi alti precedenti, è solo una questione di tempo che Nifty segue l'esempio. Mon, 20 Feb 2017 16:33:22 0530 Considerando politiche Trumps possono guidare la crescita e di conseguenza la domanda di servizi IT negli Stati Uniti, sarebbe bene per le aziende IT indiano per iniziare a produrre alcuni dei propri servizi là e abete rosso fino assunzioni locali , dice John Praveen, il Chief Investment Strategist presso Pramerica internazionali Investment Advisors. Mon, 20 Feb 2017 13:19:24 0530 Bharat finanziaria ha una forte rete tra mercato rurale in India e sarà una win-win, se una banca come IndusInd è in grado di acquisire, dice Digant Haria, antica Stock Broking. Mon, 20 Feb 2017 12:04:48 0530 Anche se il settore è stato un deludente inverta rango in passato, le scorte delle telecomunicazioni indiano sono molto attraenti dal punto di vista di tre anni, secondo S Naren, direttore esecutivo di Chief Investment Officer di ICICI Prudenziale. Mon, 20 Feb 2017 10:36:10 0530 Guarda Investor Camp, tenutosi a Mumbai, in cui SP Tulsian di sptulsian condiviso le sue letture e prospettive sul mercato e quello che ci aspetta. Sat, 18 Feb 2017 13:47:55 0530 Anche se aggiunge che gli investitori hanno beem seguendo da vicino Narendra Modi, dopo la sua decisione di vietare ad alta valuta di denominazione dello scorso anno. Quindi, qualsiasi BJP vincere o perdita con un margine enorme possa incidere mercato, aggiunge. Fri, 17 Feb 2017 20:06:33 0530 Il problema pubblico comprende la vendita di nuova emissione di un massimo di 1 crore quote di capitale della società. Questo funziona a 39 per cento della partecipazione complessiva, bozza di prospetto falsa pista (DRHP) depositato presso Sebi mostrato. Wed, 22 Feb 2017 13:02:04 0530 L'IPO è composto nuova emissione di azioni per un valore di Rs 450 crore e un'offerta di vendita di 1,27 crore scrips da parte di azionisti, in base al progetto di prospetto falsa pista. Tue, 14 Feb 2017 14:18:03 0530 La società si aspetta che quotazione delle quote di capitale rafforzerà la nostra immagine e la visibilità del marchio e fornire liquidità ai nostri azionisti. Listing fornirà anche un mercato pubblico per le quote di capitale in India, Eris ha detto nel progetto di documenti. Fri, 10 Feb 2017 12:40:04 0530 Fri, 10 Feb 2017 12:39:43 0530 Wed, 8 febbraio 2017 17:11:44 0530 L'azienda aveva presentato il suo progetto di Red Herring prospetto (DRHP) con Sebi nel mese di settembre. Il regolatore il 3 febbraio ha pubblicato le sue osservazioni finali sui progetti di documenti di offerta, che è necessario per qualsiasi azienda a lanciare un'offerta pubblica. Mar, 7 Feb 2017 09:42:09 0530 E 'stato spettacolare performance da BSE azioni (di un tempo Bombay Stock Exchange) il Venerdì. Lo stock si stabilì a Rs 1,069.20 sul National Stock Exchange, in crescita del 32,65 per cento rispetto al suo prezzo di emissione di Rs 806. Fri, 3 febbraio 2017 17:37:35 0530 Venerdì scorso, il BSE ufficialmente quotata alla National Stock Exchange. Ma 23 anni fa, il lancio della NSE wasnt esattamente accolto da Asias più antica di scambio. Fri, 3 febbraio 2017 14:05:34 0530 BSE Presidente Sudhakar Rao ha detto Moneycontrol che l'attenzione sarebbe sul mantenere le promesse agli investitori dopo che il titolo ha avuto un debutto formidabile al NSE. Fri, 3 febbraio 2017 11:59:26 0530 ESB è stata in grado di crescere i ricavi d'esercizio a poco a poco anche in mezzo di importanti riorganizzazioni aziendali negli ultimi cinque anni, afferma il CEO MD Ashishkumar Chauhan in un'intervista post-annuncio ad CNBC-TV18 . Fri, 3 febbraio 2017 11:43:58 0530 Countrys più antica borsa BSE limitata quotata a Rs 1089 per azione sul National Stock Exchange, in crescita del 35 per cento rispetto al suo prezzo di emissione di Rs 806. Fri, 3 febbraio 2017 10:01:42 0530 l'IPO comprende la vendita di 53,422,169 azioni da parte degli azionisti esistenti, che comprendono promotori e il gruppo promotore. Gio, 2 Febbraio 2017 15:02:03 0530 La questione, che è stata anche la prima quota di vendita da parte di un interno di borsa, era aperto a fare offerte per gennaio 23-25. L'IPO ha visto robusta domanda degli investitori ed è stata sottoscritta in eccesso 51.22 volte. Gio, 2 Febbraio 2017 12:58:02 0530 Mon, 30 Gennaio 2017 08:32:07 0530 L'IPO ha ricevuto offerte per 12,80,04,066 azioni contro la dimensione totale emissione di 1,07,99,039 azioni, i dati disponibili con il NSE fino a 1330 ore hanno mostrato. Mer, 25 gennaio 2017 13:58:03 0530Re: ClosureRelocation sedi di attività A, tutti gli assicuratori, si è venuto a conoscenza del l'Autorità che sedi di attività degli assicuratori vengono chiuse trasferiti senza comunicazioni appropriate agli assicurati che causano loro un sacco di disagi. L'Autorità è anche in ricezione di lamentele da parte degli assicurati colpiti. 2. Le compagnie di assicurazione sono quindi avvertiti che la decisione per closurerelocation delle loro sedi di attività (indipendentemente dalla loro nomenclatura Andor il tipo di servizi offerti rincalzo) dovrebbe essere dopo la dovuta considerazione tutti i fattori, tra cui i possibili disagi per la clientela. E 'essenziale che tale decisione sia adeguatamente informata al Consiglio per le informazioni con le relative motivazioni, dal momento che la proposta di aprire le branchesoffices furono inizialmente approvato dal Consiglio. adeguato avviso da un minimo di 2 mesi sul relocationclosure proposto dovrebbe essere data agli assicurati servite da quel ramo con le modalità alternative stati fatti a loro servizio. 3. Tali chiusure dovrebbero essere segnalate all'Autorità entro un mese dalla data di tale chiusura. 4. E 'stato anche deciso di standardizzare la classificazione dei luoghi di esercizio dell'attività adottate da vari assicuratori e per compilare un database degli uffici di assicuratori. Per raggiungere tale obiettivo, gli assicuratori sono invitati a classificare le loro filiali esistenti in MetroUrban e rami rurali basate sulla classificazione fornita dall'ultimo censimento decennale della popolazione (Census of India). Sono altresì presente che i dettagli di classificazione insieme con l'indirizzo postale del ramo devono essere depositate presso l'Autorità in forme Hardsoft entro e non oltre il 28 febbraio 2007. Mentre cerca approvazioni freschi dettagli di proposte sedi di attività insieme con la classificazione dovrebbe anche essere arredata. (C. R. Muralidharan) CANCELLAZIONE membro di broker LICENZA Mentre Ms. Sapthagiri assicurativi Pvt. Ltd. (di seguito denominato Broker) CON SEDE a D. No. 1-3-2, C19, Penugonda Strada, Hindupur -515 201 sono stati concessi licenza da parte dell'Autorità di agire come un Insurance Broker diretto, vide Licenza n ° 270 del 22 giorno di luglio 2004 ai sensi delle disposizioni della IRDA ( Brokers di assicurazione) Regulations, 2002 (di seguito indicato come il regolamento). Mentre vide la loro lettera del 03.01.2006, il broker ha espresso la sua volontà di cedere la licenza e ha chiesto l'autorità per consentire loro di cedere la licenza concessa. Considerando che il broker ha inoltre impegnata a servire i clienti esistenti le cui politiche sono in vigore per un periodo di sei mesi, come richiesto ai sensi del regolamento 40 di detti regolamenti. Considerando che il mediatore vide la sua lettera in data 08.11.2006 ha presentato la No.270 licenza originale per la cancellazione. Ora, quindi, conformemente alla richiesta fatta dal broker per la consegna volontaria della licenza di intermediazione diretta, l'autorità annulla la presente assicurazioni dirette Broker Licenza No. 270 concesso alla signora Sapthagiri Insurance Services Ltd Di conseguenza, il broker ha cessato di esercitare l'attività di assicurazione Broker. Questo è rilasciato con la precedente approvazione da parte dell'Autorità competente. (Suresh Mathur) Joint Direttore Re. Relazione del Comitato K Raman G su Broker e questioni connesse mediatore 225 aziende di intermediazione hanno operato sul mercato. I broker sono stati funzionano per oltre 3 anni e l'Autorità ha ritenuto opportuno costituire un comitato di esperti per esaminare i regolamenti che disciplinano la concessione di licenze di broker alla luce dell'esperienza della IRDA negli ultimi tre anni e per fare le raccomandazioni che considerano occorre rafforzare il ruolo di mediatori, in particolare nel contesto della de-tariffazione delle assicurazioni non vita viene proposto dall'Autorità. Di conseguenza, un comitato è stato costituito con Shri G. K.Raman, Presidente, Reale Sundaram Alliance Insurance Company Ltd. come il Presidente del Comitato, con membri provenienti dal settore. Il Comitato ha presentato la sua relazione il 14 novembre 2006. Il rapporto è stato immesso sul sito web IRDAs a irdaindia. org. L'Autorità sarebbe felice di ricevere commentsobservations sulla relazione del Comitato Raman. Si chiede di inviare le vostre opinioni tramite e-mail: (mmsiddiquiirdaonline. org) o per posta all'Autorità al seguente indirizzo, MM Siddiqui, Consulente Ufficiale speciale, Insurance Regulatory Authority e lo sviluppo, 3 ° piano, Basheer Bagh, Hyderbad - 500004 L'Autorità desidera ricevere le suggestionscomments entro e non oltre il 31 gennaio, 2007. - Sd - 6 (CSRao) Presidente dicembre 2006. IRDA Circolare n 033 IRDA Brok-Comm DEC-06 6 dicembre 2006 Re: Limiti pagamento di commissione o di intermediazione in affari assicurazione generale In virtù del potere attribuite all'Autorità sotto Sezione 14 della legge sulle assicurazioni dell'Autorità di Vigilanza e lo sviluppo, il 1999 e in termini di disposizioni delle sezioni 40 (1), 40A (3) e la Sezione 42E della legge sulle assicurazioni, 1938, l'Autorità dirige la presente che la percentuale di premio che può essere versato a titolo di commissione o intermediazione per una polizza di assicurazione generale non deve superare le percentuali dei premi indicati qui di seguito. Non mediazione può essere pagato nei confronti di un'impresa di assicurazione in cui agenzia di commissione e allo stesso modo, nessuna commissione di agenzia può essere pagato nei confronti di un'impresa di assicurazione in cui mediazione è dovuta. Classe di attività Percentuale massima di premio da pagare come commissione di agenzia o di mediazione 1. Fuoco, Ingegneria assicurazioni ii. I clienti aziendali (compresi PSU) il cui capitale è versato: a) Fino a Rs.15 crore b) Tra Rs.15 crs 25 CRS c) Nel corso Rs.25 crore III. Rischi qualificabili come grandi rischi di cui al comma 19 (v) del file Utilizzare linee guida 2. attività di assicurazione del motore (diversi da quelli di terze parti), bagno di EL e di legge PL attività assicurativa 3. Marine Hull 4. affari Marine Cargo - Nessuna commissione devono essere pagati motore assicurazione di terze parti ai fini della prova della capitale versato una copia dell'ultimo bilancio che è nel pubblico dominio secondo le esigenze del Companies Act del 1956 dovrebbe essere accettabile. In caso di un bilancio che è di 2 anni precedenti l'anno di assicurazione ponendo un certificato revisori deve essere prodotto. In caso di sole aziende proprietorship e partenariato un certificato da un dottore commercialista per il cliente dovrebbe essere accettabile. Delle succursali in India di un riferimento società estera devono essere apportate al capitale versato della società nel paese in cui è incorporato convertendolo in rupie indiane al tasso di cambio corrente alla data di assicurazione Nessun pagamento di alcun genere , comprensivo degli oneri amministrativi o di manutenzione è consentito di essere fatto per l'agente o il mediatore per quanto riguarda l'attività per la quale egli viene pagato commissioni di agenzia o di intermediazione. Questa direzione sostituisce tutte le direzioni esistenti in materia e avrà effetto nei confronti di assicurazioni o rinnovi a decorrere dal gennaio 2007. (CS Rao) Regolamento Presidente tariffe, i termini e le condizioni di attività assicurativa generale o dopo 1 A, tutto Generale assicuratori, The tariffa Comitato consultivo vide la sua rif circolare. TAC706 del 4 dicembre 2006 ha deciso che le tariffe, i termini, le condizioni e le normative applicabili al fuoco, Ingegneria, Motore, Workmens compensazione e le altre classi di attività attualmente in fase di tariffe sono ritirati in vigore dal 1 gennaio 2007. In virtù del potere conferito l'Autorità di cui alla sezione 14 (2) (i) della legge IRDA, del 1999, si comunica che i regolamenti generali tariffari (diverse da quelle relative alla valutazione), termini, condizioni, clausole, garanzie, politica e di firma formulazioni applicabili ai le classi di cui sopra di affari così come Marine Hull settore assicurativo continuano ad essere seguiti fino a nuovo ordine. I tassi di premio può essere variata soggetti al rispetto degli orientamenti in materia di file e si consiglia Uso della General Insurance prodotti notificati il 28 settembre 06. I tassi di premio applicabile al motore Terzi attività assicurativa è fissato in Annesso I. Assicuratori di essere consapevoli delle preoccupazioni espresse dai proprietari di veicoli su entrambi i prezzi e disponibilità di assicurazione. Considerando la natura obbligatoria di assicurazione auto di terze parti, sono invitati gli assicuratori per garantire che l'assicurazione del motore di terze parti è reso disponibile a tutti i loro rami di sottoscrizione e che le richieste di assicurazione vengano eseguiti con tempestività e le politiche sono rilasciati immediatamente. L'Autorità trattare qualsiasi denuncia di non disponibilità di assicurazione o l'uso di metodi per mettere fuori il cliente in cerca di assicurazione, sul serio. Per quanto riguarda tutte le categorie di business in cui le aliquote applicabili sono ora controllati da tariffa, gli assicuratori non sono autorizzati ad annullare i contratti di assicurazione in corso e emettere polizze freschi che coprono sostanzialmente le stesse proprietà o interessi, al fine di alterare i tassi di premio offerti al cliente. L'assicurato è libero di annullare la sua assicurazione in qualsiasi momento, secondo le condizioni di politica rilevanti nel qual caso, premio a tassi di breve periodo a seconda del caso deve essere addebitato per il periodo sul rischio. Gli assicuratori sono invitati a garantire che gli standard di sottoscrizione adeguate sono mantenute anche dopo che le tariffe sono ritirati. (C. S. Rao) Presidente Direzione sotto Sec 34 della legge sull'assicurazione A, tutto Generale assicuratori, Sub. Motore assicurazione RC considerando che sono state ricevute diverse denunce in materia di non-disponibilità di assicurazione partito terzo motore soprattutto per i veicoli commerciali e mentre gli assicuratori sono state esprimendo difficoltà a sottoscrivere questo business a meno che non sono consentiti per i tassi di premio che ritengono appropriato e che, tenuto conto della la natura obbligatoria del motore terzo settore assicurativo parte è necessario che l'Autorità per monitorare le tariffe, i termini e le condizioni della copertura per il momento, e che è di pubblico interesse garantire che tutti gli assicuratori registrati a svolgere attività di assicurazione generale compresa l'assicurazione del motore affari partecipare attivamente nel fornire tale copertura ai proprietari di veicoli a tassi come notificato da parte dell'Autorità di volta in volta Ora dunque, l'Autorità, previa consultazione del comitato costituito ai sensi della Sezione 110G della legge sulle assicurazioni, dirige la presente che tutti gli assicuratori generali registrati da trasportare per affari generali di assicurazione (comprese le attività di assicurazione del motore) o generale riassicurazione partecipano collettivamente in una disposizione pooling di condividere in tutti gli affari di assicurazione di terze parti motore sottoscritto da una delle assicurazioni generali registrati in conformità con le seguenti disposizioni: 1. la partecipazione al pool disposizione: Ogni assicuratore registrata a svolgere attività di assicurazione generale (comprese le attività di assicurazione del motore) o riassicurativa generale partecipa automaticamente nella disposizione pooling nella misura stabilita nel presente documento. 2. Underwriting insurers: Every underwriting office of every insurer that is authorized to underwrite motor insurance business for the insurer shall also be authorized to underwrite motor third party insurance business that will be shared among all insurers through the pooling arrangement. 3. Pooling mechanism: The pooling of business among all insurers will be achieved through a multi-lateral reinsurance arrangement between the underwriting insurer and all the other registered insurers carrying on general insurance business (including motor insurance business) and general insurance reinsurers. 4. Participation in motor third party insurance pooled business: The participation of General Insurance Corporation of India (GIC) in the Pooled business shall be such percentage of the motor business that is ceded to it by all insurers as statutory reinsurance cessions under Sec 101A of the Insurance Act. The business remaining after such cession to GIC shall be shared among all the registered general insurers writing motor insurance business in proportion to the gross direct general insurance premium in all classes of general insurance underwritten by them in that financial year. 5. Underwriting of business: Underwriting offices of insurers shall follow the underwriting instructions of the General Insurance Council in the matter of procedures for underwriting and documentation and accounting and settlement of balances. The business shall be underwritten at rates and terms and conditions of cover as notified by the Authority from time to time. No vehicle owner shall be denied third party insurance cover in respect of his vehicle which is holding a valid permit for use on public roads except on grounds of attempted fraud. 6. Claims processing and settlement: All claims in respect of third party death or injury or physical damage shall be processed for settlement in a speedy and efficient manner in accordance with the instructions of the General Insurance Council. For this purpose, the Council shall adopt a pro-active claims settlement policy adopting the most efficient claims processing practices possible. 7. Administration of the Pooling arrangement: The GIC shall act as the administrator of the pooling arrangement. It will act under the guidance of the General Insurance Council. For this purpose, the Council may establish such Committees of insurers as are necessary to operate the Pooling arrangement and process and settle claims in the most efficient manner. 8. Remuneration: There will be no agency commission or brokerage payable in respect of motor third party insurance business. The underwriting insurer will be paid a reinsurance commission of 10 on the premium ceded by it to all the other insurers and reinsurers. The GIC as administrator shall be paid a fee of 2.5 of the total premium on motor third party insurance business in respect of the business underwritten for the pooled account. Each insurer shall bear the cost of hardware required to operate the pooling arrangement within its offices. The GIC will bear the cost of hardware necessary to administer the pooling arrangement in its offices. The cost of the operating software for the pooling arrangement shall be shared by all the insurers and reinsurers in the manner decided by the General Insurance Council. Each insurer shall bear the cost of travel of its executives to attend to the work relating to the pooling arrangement. However, any travel specifically to service a claim shall be recoverable as claims related expenses. 9. Agreement: The insurers and GIC shall enter into a multi-lateral reinsurance arrangement to give effect to this pooling scheme. 10. Review: The Authority will review the operation of the pooling arrangement and the need for regulation of the premium rates and terms of cover and will issue such directions from time to time as may be considered necessary. (C. S. Rao) Chairman Re: Guidelines on Anti Money Laundering programme for Insurers To, All the Insurers, Dear SirMadam, Further to our circular no. Circular No. 019IRDALIFE SEP-06 dated September 26, 2006 on Guidelines on Anti-Money Laundering Programme for Insurers, we advise that the constraints faced by the insurance industry in complying with the requirement of obtaining a recent photograph of the individuals for all new contracts were apprised to FIU-IND as indicated in para 2 of the referred circular. We are in receipt of a communication from FIU-IND wherein they have indicated that, it is fully justified to obtain a recent photograph from an individual client in view of the objective of the PMLA. In view of the stand taken by FIU-IND, all the insurers are required to comply with the requirement of Rule 9 of the PMLA rules in the implementation of the guidelines. Yours faithfully, (C. R. Muralidharan) Member 10th November 2006. 10th November 2006 INDIAN INSTITUTE OF INSURANCE SURVEYORS AND LOSS ASSESSORS Regd. Off: Parishram Bhavan 5 th Floor, Basheer Bagh, Hyderabad - 500004. Tel: 040- 66626466 67 e-mail: iiislairdaonline. org NOTICE RE: LIST (2) OF APPLICATIONS RECEIVED BY IIISLA OTHER THAN THOSE MENTIONED IN LIST 1 The Indian Institute of Insurance Surveyors and Loss Assessors (IIISLA), hereinafter called the Institute, along with the Insurance Regulatory and Development Authority, had called for applications to the membership of the Institute vide its notices dated 26th November, 2005 and 10 th11 th January, 2006. The last date stipulated for receipt of applications for membership to the Institute with eligibility to contest vote for elections to the first council of the Institute was 28 th February, 2006. The Institute, however, has been receiving applications beyond 28.02.2006. The list(2) of such applications received and processed up to 31.05.2006 is attached. While the applications have been processed, the Institute hereby clarifies that these applications have not been considered for membership for the present. The list of applications processed after 31.05.2006 shall be put up separately at a later date. FOR IIISLA (Yegnapriya Bharath) Authorised signatory Hyderabad Date: November 10, 2006 INDIAN INSTITUTE OF INSURANCE SURVEYORS AND LOSS ASSESSORS Regd. Off: Parishram Bhavan 5 th Floor, Basheer Bagh, Hyderabad - 500004. Tel: 040- 66626466 67 e-mail: iiislairdaonline. org NOTICE RE: LIST (1) OF APPLICANTS ADMITTED AS MEMBERS TO THE INDIAN INSTITUTE OF INSURANCE SURVEYORS AND LOSS ASSESSORS The Indian Institute of Insurance Surveyors and Loss Assessors (IIISLA), hereinafter called the Institute, along with the Insurance Regulatory and Development Authority, had called for applications to the membership of the Institute vide its notices dated 26 th November, 2005 and 10 th11 th January, 2006. The last date stipulated for receipt of applications for membership to the Institute with eligibility to contest vote for elections to the first council of the Institute was 28 th February, 2006. The Institute is pleased to publish the list (1) of 4340applicants approved and admitted as its Members for the aforementioned purpose. The list (2) of members whose applications are processed but are not considered for membership for the present, is also given separately. It is hereby informed that categorization of applicants as Fellow and Associate members is based on the declaration of applicants as regards their eligibility for Fellowship and Associateship respectively laid down by the Institute. While separate membership letters shall be mailed to the members, this may be treated as an initial acknowledgement. If there are any errorsomissions in the names andor address details, please do revert to us within 15 days of publication of this notice, to enable us to carry out the necessary corrections. FOR IIISLA (Yegnapriya Bharath) Authorised signatory Hyderabad Date: November 10, 2006 Re: Designating additional Public Information Officer under Right to Information Act, 2005 A reference in invited to office order No. ADMORD48Oct-05 dated October 24, 2005 designating Central Public Information Officer and Appellate Authority under Right to Information Act, 2005. The following officials are hereby designated as Public Information Officer for the Authority and in terms of Section 19 (1) of the said Act, to discharge the functions assigned under the Act. Name of the Official Department 1. Mr Prabodh Chander, ED - Non-Life, Hindi and Legal 2. Mr. K Subrahmanyam, ED - Actuarial 3. Mr. P C James, ED - Inspection and Health Insurance 4. Mr. M M Siddiqui. CSO - Intermediaries 5. Mr. Kunnel Prem. CSO - Life Insurance 6. Mrs. Vedakumari. ED - ATI, Corporate Agency and any other residuary matters This will be in addition to their normal duties. sd. (C. S. Rao) Chairman CC: All Members DG R D All Executive Directors All CSOs All JDs All the above individual officers Notice Board DD-IT for placing on Intranet This is to inform that the IRDA has constituted an Expert Committee to review the Regulations governing the licensing of brokers. The Committee has been constituted in the light of the experience of the IRDA during the past three years and for making such recommendations as considered necessary to strengthen the role of brokers. The Committee comprises: Shri G. K. Raman, Chairman, Shri G. V. Rao, Shri B. Chakrabarti, Shri S. V. Samant and Shri M. Ramadoss as Members. A copy of the office order constituting the Committee along with the terms of reference is available at the following link: The Committee is keen to have the benefit of the adviceviews of the various stakeholders. We shall be glad to have the views in the form of a written presentation, which may be sent to the Committee through Post Email to the attention of the undersigned. The Email IDs of the undersigned, Chairman and Members of the Committee are given below: The Committee would also be happy to have personal discussions for about half an hour to 45 minutes where the Chairman and the Members shall be present. We propose to have a meeting at New Delhi on 19th of October 2006 at the following venue. 19th October, 2006 Arcot Room Taj Connemara, Binny Road Chennai - 600 002 Please send us a communication if you wish to participate in the personal discussions. (M. M.Siddiqui) Consultant Special Officer (Convener of the Committee) Re: Guidelines on Anti Money Laundering programme for Insurers CEOs of All the Life Insurance CompaniesLife Insurance Council Further to our circular no. 043IRDALIFEAMLMAR-06 dt. 310306, and No. 013IRDALIFE JUL-06 dt. 27th July 2006 on Guidelines on Anti-Money Laundering Programme for Insurers. The following clarificationsrelaxations are being issued in response to the concerns raised by the insurers. 1. Documentation for identity and proof of residence: Doubts have been raised by insurers regarding the documents to be collected as valid identityresidence proof apart from what has been given in Annexure I to the guidelines. It is clarified that the list of documents provided in Annexure I of the guidelines for establishment of identity and residence proof may be deemed as illustrative. However while providing this flexibility to insurers on satisfactory documentation for this purpose the Authority would reiterate that there should be no dilution of the requirement. Documents which are easily obtained in any name like birth certificates, an identity card issued by the employer of the applicant even if bearing a photograph, credit cards, business cards, driving licenses (not bearing a photograph), provisional driving licenses and student union card should not be accepted mechanically and adequate safeguards should be in place to satisfy its acceptance. In other words, any other document that is accepted by the insurer to establish the identity and proof of residence as required under Rule 9 of the PMLA rules should be such that it would satisfy competent authorities (regulatoryenforcement authorities), if need be at a future date, that due diligence was in fact observed by the insurer in compliance with the guidelines and the Act. 2. Requirement of recent photograph address proof under PMLA Rules: a. We observe that documentation of permanent address and current address is mandatory for all the new contracts as required by Rule 9 of the PMLA rules. With the enlargement of the list of documents for establishment of identity as at para 2 above, the obtaining of appropriate documents for establishing the proof of residence would not be a major constraint and insurance companies are advised to comply fully with this statutory requirement in all cases. b. There were requests to do away with the mandatory collection of the photograph in case of individual clients as required under Rule 9 of the PMLA Rules 2005. The issue was represented to FIU-IND for which they have clarified that the requirement of submitting a copy of the recent photograph by an individual client is justified and cannot be relaxed. Mandatory requirement of a recent photograph of the client would be taken up again with FIU-IND in view of the representation received from the industry. In the interim, insurers are advised to comply with the PMLA Rules until the issues are resolved by FIU-IND. 3. We have examined other suggestionsrequests received from Life Insurance Companies and advise that the other requirements listed in the circular dated 31st March 2006 should remain unchanged. Insurers are advised to take note of the above modifications and ensure compliance with the framework in entirety. Yours faithfully, (C. R. Muralidharan) Member Constitution of Committee to review Broker Regulations This is to inform that the IRDA has constituted an Expert Committee to review the Regulations governing the licensing of brokers. The Committee has been constituted in the light of the experience of the IRDA during the past three years and for making such recommendations as considered necessary to strengthen the role of brokers. The Committee comprises: Sri G. K. Raman, Chairman, Sri G. V. Rao, Sri B. Chakrabarti, Sri S. V. Samanth and Sri M. Ramadoss as Members. A copy of the office order constituting the Committee along with the terms of reference is available at the following link: The Committee is keen to have the benefit of the adviceviews of the various stakeholders. We shall be glad to have the views in the form of a written presentation which may be sent to the Committee through Post Email to the attention of the undersigned. The Email IDs of the undersigned, Chairman and Members of the Committee are given below: The Committee would also be happy to have personal discussions for about half an hour to 45 minutes where the Chairman and the Members shall be present. We propose to have a meeting at New Delhi on 5th and 6th of October 2006 at the following venue. Hotel Intercontinental, The Grand, Quorum No.2, Barakhamba Avenue, Connaught Place, New Delhi - 110 001, Ph. No.44447777 We also propose to hold meetings in the other metros, the details of which shall be put up on this website. Please send us a communication if you wish to participate in the personal discussions. (M. M.Siddiqui) Consultant Special Officer (Convener of the Committee) 5th September 2006. 5th September 2006 On account of the immersion of Lord Ganeshas idols in the twin cities of Hyderabad and Secunderabad on Wednesday the 6th September 2006, the office of the Authority at Hyderabad would remain closed that day. This issues with the approval of the Chairman. (A. Krishnan) Deputy Director (Admn.) Constitution of Committee to review Broker Regulations This is to inform that the IRDA has constituted an Expert Committee to review the Regulations governing the licensing of brokers. The Committee has been constituted in the light of the experience of the IRDA during the past three years and for making such recommendations as considered necessary to strengthen the role of brokers. The Committee comprises: Sri G. K. Raman, Chairman, Sri G. V. Rao, Sri B. Chakrabarti, Sri S. V. Samanth and Sri M. Ramadoss as Members. A copy of the office order constituting the Committee along with the terms of reference is available at the following link: The Committee is keen to have the benefit of the adviceviews of the various stakeholders. We shall be glad to have the views in the form of a written presentation which may be sent to the Committee through Post Email to the attention of the undersigned. The Email IDs of the undersigned, Chairman and Members of the Committee are given below: The Committee would also be happy to have personal discussions for about half an hour to 45 minutes where the Chairman and the Members shall be present. We propose to have a meeting at Kolkata on 26-8-06 at the following venue. Board Room, Hotel Hindustan International, 2351, A. J.C, Bose Road. Kolkata - 700 020, Tel. No.22802323 We also propose to hold meetings in the other metros, the details of which shall be put up on this website. Please send us a communication if you wish to participate in the personal discussions. (M. M.Siddiqui) Consultant Special Officer (Convener of the Committee) 9th August 2006. 9th August 2006 IRDAGIDetariff06 - Draft revised File Use Guidelines for General Insurance Products Enclosed is the draft outlining the revised file use guidelines for compliance by General Insurers. It outlines the various steps to be taken by the insurers in the proposed de-tariffied regime to ensure that the products developed by them comply with the File Use guidelines. If there are any suggestions regarding any of the matters contained in the draft guidelines you may write to us before 25th August 2006 so that it may be duly considered and appropriate modifications, if any, made. (PC James) Executive Director 7th August 2006. 7th August 2006 Updated list of Accredited (Off Line On Line) Agents Training Institutes These are divided into four zones. Circular No. 013IRDALIFE JUL-06 Re: Guidelines on Anti Money Laundering programme for Insurers All the Insurers, Further to our circular no. 043IRDALIFEAMLMAR-06 dt. 310306, Guidelines on Anti-Money Laundering Programme for Insurers. The following clarificationsrelaxations are being issued in response to the doubtsqueries raised by the insurers. 1. Application of AML guidelines to existing customers: In view of the practical hardships on account of retrospective application of AML guidelines from 1st April 2004, and in order to reduce the burden for carrying out KYC exercise for the very large number of existing customers, compliance of KYC norms on existing customers should be carried out by you with effect from 1st January 2006 . The compliance requirements are also further limited to the policies coming into force on or after 1st January 2006 and those covered under detailed due diligence procedures vide para 3.1.1 (ii), 3.1.3 and 3.1.5 of the circular. The AML requirements may not be applied to the remaining existing customers . i. e, those below the threshold premium of Rs. 1 lakh per annum. 2. Documentation for identity and proof of residence: a. All insurance customers would need to give identity of their name, through any of the documents listed in Annexure I of the guidelines (split into identityproof of residence requirements). If the document of identity also gives the proof of residence, no further documentation would be necessary in cases where proof of residence needs to be obtained. In other cases, the companies may verify their current residential detail as given in the guidelines. b. The following documentary evidences could also be treated as valid proofs of identity and residence besides the documents mentioned in Annexure I of the guidelines: i. Written confirmation from the banks where the prospect is a customer, regarding identification and proof of residence. ii. Personal identification and certification of the employees of the insurer for identity of the prospective policyholder. iii. Valid lease agreement along with rent receipt, which is not more than 3 months old as a residence proof. iv. Employers certificate as a proof of residence. (Certificates of employers who have in place systematic procedures for recruitment along with maintenance of mandatory records of its employees are generally reliable). c. The following documentary evidences under Annexure I of the guidelines are valid proofs only under the specified condition: i. Bank account statement includes any bank account opened by the customer wherein his permanentpresent residence address is available. However, the statement should not be older than six months as on the date of acceptance. ii. Telephone bill pertaining to any kind of telephone connection like, mobile, landline, wireless etc is a valid proof of residence, provided it is not older than six months from the date of insurance contract. 3. In these guidelines unless the context otherwise requires - a. Public Authority is as defined under Section 2(h) of the Right to Information Act, 2005. (persmin. nic. inRTIWebActRTI. htm) b. Public Servant is as defined in Section 2(c) of the The Prevention of Corruption Act, 1988. (indialawinfobareactsprevca. htmlToc509302969) c. Politically Exposed Persons is as defined in the KYC norms issued by Reserve Bank of India (rbi. org. inscriptsNotificationUser. aspxMode0Id2039) The other requirements listed in the circular dated 31st March 2006 remain unchanged. Insurers are advised to take note of the above modifications and ensure compliance with the framework in entirety. (C R MURALIDHARAN) Member SUB :WORKING GROUP ON IRDA INVESTMENT REGULATIONS The IRDA (Investment) Regulations, 2000 were after its notification was subsequently modified partially in the year 2004. The KPN Committee on amendments to Insurance Act, 1938 have also recommended a re-look at the statutory provisions on the pattern of Investments prescribed for Insurers and have suggested amendments that would provide flexibility to the Authority in the manner of Regulation on Investments of Insurance Companies. With the expansion of the financial sector and introduction of new financial instruments requests for investment in such instruments and derivatives need to be examined for developing appropriate regulatory framework. IRDA has therefore decided to form a Working Group to examine the existing Investment Regulations and to review comprehensively the current statutory prescriptions and pattern of Investments for Insurance Companies and suggest changes considered necessary in the light of experience gained developments in Financial Markets and the genuine constraints faced by Insurance Companies. Further, it will look into the structure of the prescribed Returns and suggest modifications as may be considered necessary. The Working Group would be chaired by Shri C R Muralidharan, Member and will comprise of the following as its members. Shri G Mahalingam Chief General Manager (IDMD) Reserve Bank of India Shri Subhoban Sarkar Executive Director (Investments) Shri N S Kannan ICICI Prudential Life Insurance Company Shri G Muralidhar Chief Financial Officer Kotak Mahindra Life Insurance Company Shri Anuj Mathur Aviva Life Insurance Company Shri N V Murali United India Insurance Company Shri S S Gopalarathnam Chief Operating Officer Cholamandalam MS General Insurance Company Shri Viraj Londa M P Chitale Company Chartered Accountants (C R MURALIDHARAN) Member The IRDA and the Indian Institute of Insurance Surveyors and Loss Assessors (the Institute) had invited applications for membership of the Institute. We are glad to inform that we have received a good response of around 5000 applications for membership of the Institute. The processing of the applications is on. No sooner it is complete, than the list containing the exact number and other details shall be hosted on this website for information of all concerned. This will be followed by individual communications to the applicants. ( M. M. SIDDIQUI) CONSULTANT SPECIAL OFFICER Expression of Interest Re. Expression of Interest TAC has collected data from the general insurance companies on motor health insurance for the years 2003-04 and 2004-05. The statistics thus collected need to be analysed from actuarial and rate making point of view which could be useful in the ensuing detariffed regime. Before a final analysis is contemplated, it becomes necessary that a preliminary exercise need to be conducted on the collected data so as to assess the usefulness of the data from the analytics point of view and for rate making purposes. Agency (ies) based on the in-house technical capabilities and with proven experience in the analysis of general insurance data will be short listed as service provider(s) at a later date. This will be based on the preliminary exercise that they will undertake now on the available data. Any agency with proven experience in the analysis of general insurance data may express their interest by approaching IRDA within 21 days from today (26.5.06). For further details contact H. Ananthakrishnan, OSD, IRDA at hananthakrishnanirdaonline. org. (V. Vedakumari) ED(Admn.) Investment In Innovative Perpetual Debt Instruments Of Banks Tier-1 Capital Debt Capital Instruments Of Banks Upper Tier-2 Capital Re. INVESTMENT IN INNOVATIVE PERPETUAL DEBT INSTRUMENTS OF BANKS TIER-1 CAPITAL DEBT CAPITAL INSTRUMENTS OF BANKS UPPER TIER-2 CAPITAL The Reserve Bank of India vide Master Circular DBOD. No. BP. BC.5721.01.0022005-2006 dated 25th Jan, 2006 has allowed banks to raise Capital through issue of Hybrid Instruments as under for augmenting their Capital Adequacy: 1. Innovative Perpetual Debt Instruments for inclusion as Tier 1 Capital 2. Debt Capital Instruments eligible for inclusion as Tier 2 Capital 3. Perpetual Non-Cumulative Preference Shares for inclusion as Tier 1 Capital and 4. Redeemable Cumulative Preference Shares eligible for inclusion as Tier 2 Capital Insurance Companies, in general, have long term liabilities and require Instruments of Investment with matching maturities to optimally manage their assets and liability position. The above Instruments, which are likely to be issued by both Public and Private Sector Banks would have a minimum maturity period of 10 and 15 years, and would provide adequate flexibility to the Insurers in their Asset-Liability Management, with reasonable returns and hence provide Insurance Companies with appropriate Investment opportunity. The Authority had therefore examined the various aspects of these instruments and have decided that the above Instruments may be deemed as a part of Approved Investments for the purpose of Section 27A and 27B of Insurance Act, 1938, under powers vested in Section 27A(s) and 27B(j) of Insurance Act, 1938, subject to the following conditions: 1. The Debt Instrument issued by Banks in Private Sector shall be rated not less than AAA by an independent, reputed and recognized Rating Agency and those issued by Banks in Public Sector shall have rating not less than AA. 2. Preference shares issued by the Banks shall satisfy the conditions specified under section 27A (1) (i) and 27A (1) (j) of Insurance Act, 1938 in the case of Life Insurers and 27B (1) (e) and 27B (1) (f) of Insurance Act, 1938 in the case of Non-Life Insurers. 3. In the case of a Life Insurer, investments in the various Hybrid Instruments shall at all times not exceed 10 of Investment in Approved Category which are subject to Exposure Norms (i. e. 10 of 35 which is 3.5 of Life Fund) and not more than 5 of respective fund size of other than Life Fund, namely Pension General Annuity Funds, Groups excluding Group Pension and Group Annuity Funds and Unit Linked Funds. 4. In the case of Non Life Insurers, all Investments in such Hybrid Instruments shall at any point of time not exceed 10 of Investments under Approved Investments which are subject to Exposure Norms (i. e. 10 of 55 which is 5.5 of Investment Assets) 5. All exposure Norms applicable for Approved Investments shall be applicable for these Hybrid Debt Instruments Preference Shares Issued by the Banks. 6. If the Hybrid Debt Instrument is down graded below AAA, in the case of Private Sector banks and (below AA in the case of Public Sector Banks) such investments shall be re-classified as Other than Approved Investments apart from reporting in FORM 2 of IRDA (Investment) Regulations, 2000. 7. In case the Interest on the Instrument is not serviced on due dates, the Investment in such Hybrid instruments are to be re-classified as Other than Approved Investments from such date for reporting to the Authority through FORM 3A (Part A) or FORM 3B (Part A) of IRDA (Investment) Regulations, 2000 in respect of Life and Non-Life Insurers respectively and all guidelines for Classification, Income Recognition and Valuation of Assets issued by RBI shall be applicable for such Investments. The necessary changes to incorporate the Investments made as per this circular have been given in Guidelines INVGLN0012003-04 (ver.02 - 28042006) and INVGLN0022003-04 (Ver.02 - 28042006) (C R MURALIDHARAN) Memeber Sub: Tendering for Insurance Covers All CEOs of General Insurance Companies It has been reported to IRDA that a practice of calling for tenders for insurance cover required by some clients has developed and that in some of these tender exercises, the insurer is required to pay some amount for buying the tender documents and also to pay an earnest money deposit. It has also been reported that in some cases clients invite bidding through the internet where the portal is kept open for a short window of time and insurers are expected to compete on price. Insurers are reminded that competition should not result in introduction of practices that are not suitable to technically sound transaction of insurance business. Insurance cannot be transacted like sale of a commodity. Proper underwriting requires that the insurer fully understands the requirements of the client and is able to ask for and receive all the information required to support a technically sound rating of the covers required. This is obviously not possible in the sealed tender system or e-bidding system. Besides, limiting competition to price alone is against the interests of the client to whom quotation is offered and since the policyholders fund ultimately is affected by the results of the business, it is generally against policyholders interests. Insurers are therefore, advised to inform any client seeking to use the tender process about the impropriety of that system for insurance business and offer to provide competitive quotations for the covers best suited to the needs of the client after obtaining all the required underwriting information. Insurers should not canvass business through a non-participative process of tendering or e-bidding. The Authority reserves the right to require an insurer to state the process of quoting terms for a particular client and to technically justify the premium quoted for its covers. (C. S. Rao) Chairman Re: IRDA (Assets, Liabilities and Solvency Margin of Insurers) Regulations, 2000Clarifications All Life Insurers, Non Life Insurers and Re-insurer, Queries have been raised by insurers on various matters relating to the manner of computation of solvency margin as provided in the Regulations. To ensure consistency in the interpretation of the Regulations, the following clarifications are issued. Insurers are required to ensure compliance with these clarifications while computing the solvency margin as at 31st March, 2006 and thereafter. 1. Table I to Form KG: Statement of Solvency Margin: (General Insurers) (a) Gross Premium for the purpose of Solvency Margin shall be the aggregate of gross direct premium and reinsurance accepted premium and (b) Incurred claims: Explanation (ii) to Section 64VA of the Insurance Act, 1938 stipulates that net incurred claims means the average of the net incurred claims during the specified period of not exceeding three preceding financial years. It is now clarified that: i. the Gross Incurred Claims and Net Incurred Claims (inclusive of IBNR and IBNER) shall be taken as the average of the previous three years (excluding the financial year with reference to which the solvency of the insurer is being computed) and shall in no case be less than the amounts of Gross and Net incurred claims for the financial year ending on the reporting date and ii. The incurred claims should also include claims pertaining to reinsurance accepted. 2. Valuation of Assets: Schedule I of the Regulations Clause 2 (3) of the Regulations provides that all assets of an insurer, other than those specified at (1) and (2), have to be valued in accordance with the IRDA (Preparation of Financial Statements and Auditors Report of Insurance Companies) Regulations, 2002. However, as a matter of prudence and also consistent with the requirement of section 64 V (1) (i) of the Insurance Act, 1938 which states that assets shall be valued at values not exceeding their market or realizable values, for the purpose of computation of solvency margin, debt securities shall be valued at lower of the amortized cost and the market value. It is, thus, clarified that while for the purpose of preparation of financial statements the debt securities would continue to be valued at the amortized cost, for the purpose of computation of solvency margin, these shall be valued at lower of the amortized cost and the market value. 3. Clause 2 (ii) to Schedule II-B of the regulations lays down the manner of determination of Reserve for Unexpired Risk. Some insurers have misinterpreted this provision to mean that even where the actual reserves maintained in the Accounts of the insurer are higher, it is adequate to use the percentages stated in the Regulations for assessing the solvency margin. It is clarified that it will not be prudent to consider a reserve for computation of solvency margin which is less than that created in the financial statements. Accordingly, the Reserve for Unexpired Risks taken into account for the purpose of computation of solvency margin should be the higher of (i) the actual reserve maintained in the books of accounts of the insurer and (ii) the URR arrived at based on the percentages stated in the Regulations for each class of business stated therein. 4. Deferred Tax Assets: Section 64 V (1) of the Insurance Act, 1938 and the regulations list out the assets which shall be assigned value zero. While Deferred Tax Assets have not been listed there under, as a matter of prudence, it is hereby advised that such assets shall also be assigned zero value for the purpose of computing solvency margin. All insurers are advised to ensure compliance with the clarifications issued herewith effective from the statements as at the end of financial year 2005-06. (C. S. Rao) Chairman Re: Guidelines on Anti Money Laundering programme for Insurers All the Insurers, 1. The Prevention of Money Laundering Act, 2002 (PMLA) has been brought into force with effect from 1st July 2005. Necessary Notifications Rules under the said Act have been published in the Gazette of India on 1st July 2005 by the Department of Revenue, Ministry of Finance, and Government of India. 2. As per the provisions of the Act, every banking company, financial institution (which includes Insurance company) and intermediary shall have to maintain a record of all the transactions the nature and value of which has been prescribed in the Rules notified under the PMLA. 3. The Guidelines enclosed herewith are being issued to the insurers in the context of the recommendations made by the Financial Action Task Force (FATF) on anti-money laundering standards. 4. You are advised to ensure that a proper policy framework as per the Guidelines on anti-money laundering measures is put into place by 1st July 2006. You are also advised to designate an officer as Principal Compliance Officer who would be responsible for ensuring compliance of the provisions of the PMLA. Names, designation and addresses (including e-mail addresses) of Principal Compliance Officer should be intimated to the Office of the Director-FIU, 6th Floor, Hotel Samrat, Chanakyapuri, and New Delhi 110021 India and to the Authority immediately. 5. This circular is being issued in exercise of powers conferred under Section 34 of the Insurance Act, 1938. (C. R. Muralidharan) Member Ms. ICAN Health Services Private Limited, (hereinafter referred to as the company) with Registered Office at A-92 Meera Nagar, North Main Road, Koregaon Park, Pune 411 001, was granted TPA-Health Services License No. 14 under TPA-Health Services Regulations 2001 for a period three years from 21st March 2002 to 20th March 2005. The operating office of the company is located at 101, Naina Gracias Plaza, 1st Floor, Opp. Fatima Convent, Above Kitchenette, Margo 403601, Goa. Several Complaints were received against ICAN Health Services Private Limited pointing out irregularities and deficiencies in their functioning. The Authority therefore appointed Mr K J Prabhakar to inspect the records of the company and submit report. The inspection report of Mr K J Prabhakar brought out following irregularities and violations of IRDA (Third Party Administrators - Health Services) Regulations, 2001: bull Breach of code of conduct prescribed by the said Regulations more particularly Regulation No 21(1) relating to professional conduct and Regulation No. 21(2) relating to the duties, obligations and responsibilities of the TPA and is officers, employees and representatives. bull Breach of Regulation 3(4) of the IRDA (TPA - Health Services Regulations, 2001) with regard to maintaining of working capital. bull Unauthorized alteration in the Character and ownership of the company since the grant of license in violation of Regulation 14(3). bull Causing this financial condition of the company to deteriorate to such an extent that it cannot function effectively thus providing a cause of action for revocation or cancellation of licence under Regulation 14(2). bull The company is functioning improperly and against the interests of insurers and policy holders thus providing a cause of action for revocation or cancellation of licence under Regulation 14(1). The Authority, therefore vide its letter dated 22nd August, 2005 appointed Shri. J. P.Jain as the enquiry officer to conduct an enquiry in the matter. Mr. Rashid Souza, on behalf of ICAN Health Services Private Limited, participated in the enquiry and had the opportunity of making submissions and presenting documents. The company applied for renewal of its licence expiring on 20th March, 2005. To facilitate the enquiry, the licence of the company was provisionally renewed extended up to 20th December, 2005 and the company was also directed not to enter into any fresh contract with insurance companies. As per directions of the Enquiry Officer, during the course of the enquiry proceedings, a copy of the Investigation report was made available to the company. Shri J. P. Jain Enquiry Officer, on the completion of enquiry, submitted his report dated 14th November, 2005 and holding that the following charges were fully established: 1) That Ms ICAN Health Services Pvt. Ltd has breached the code of conduct prescribed by Regulation 21(1) and 21(2) of the TPA Health Services Regulations, 2001 by not following the guidelinesdirections issued by the Authority. 2) That it breached Regulation 3(4) of the IRDA (TPA-Health Services Regulations, 2001) with regard to maintaining of working capital. 3) That character and ownership of the company has changed significantly since the grant of licence, which is violation of Regulation 14(3). 4) That the Financial condition of the Ms ICAN Health Services Pvt. Ltd. has deteriorated and that it cannot function effectively which is violation of Regulation 14(2). The enquiry officer held the following charge as partly established. 5) That Ms ICAN Health Services Pvt. Ltd. are functioning improperly and against the interest of the Insurance Company and policyholders, which is a violation of regulation 14(1). A Copy of the enquiry report was made available to the company. An opportunity was also given to the company to make submissions before Member of the Authority on 6th of January, 2006. The company did not present themselves on that date and requested for a revised date. On the revised date of 30th of January, 2006, the company did not present themselves through a representative. The inspection report, enquiry report, submissions and the documents on record have been carefully examined and Authority is satisfied that the charges as enumerated in 1 to 5 above against the company have been established to the extent they have been upheld by the enquiry officer in his report. In view of the foregoing and having regard to the nature and the gravity of the charges as established, the application for renewal of TPA Health Services License No. 14 of Ms. ICAN Health Services Private Limited is hereby declined. SD. (C. S. Rao) Chairman Re. PUBLIC NOTICE It has come to the notice of the Authority that a company by the name and style Sunlink India Insurance Company Limited is doing insurance business and collecting money from the general public for issuance of motor insurance policies from the following address:- Room No.301, Antrix Complex, 5 th Floor, Near BBC Tower. Sayajigunj, Vadodara Tel. 0265 222 62956297 Fax: 0265 222 6295 This is to inform that this Authority has not granted any license whatsoever under Section 2C (1) and 3 (1) of the Insurance Act, 1938 to the said company for carrying on the business of insurance which is a condition precedent under the provisions of the Act and the companys operations are in violation of the provisions of the Insurance Act, 1938 and IRDA Act, 1999. IRDA has already initiated further appropriate action in the matter. The general public are hereby cautioned not to purchase insurance policies from the said company or through any person claiming thereunder. The general public are hereby cautioned not to purchase insurance policies from the said company or through any person claiming thereunder. Pursuant to the advice of the Government of India based on the recommendations of the Bhandari Committee to set up an institute for surveyors and loss assessors, the Insurance Regulatory and Development Authority has got The Indian Institute of Insurance Surveyors and Loss Assessors ( IIISLA) incorporated on 4th October, 2005. Notice calling for membership to IIISLA was first given on 26th November, 2005.It was followed up by another notice on 11th January, 2006 wherein the One-time entry fee and Annual membership fee to IIISLA stood reduced. The reduction in fee was in response to appeals from a large number of surveyors and loss assessors who felt that the fee initially proposed was high. The revised fee for membership to IIISLA for all eligible surveyors and loss assessors is as follows: One-time entry fee: Rs.5000-(uniform for all members) Annual Membership fee: Fellow - Rs.2000- Associate - Rs.1500-. Following the reduction, the last date for submission of applications has been extended from 24th January, 2006 to 28th February, 2006. Only those surveyors who apply for membership before the due date i. e. 280206 shall be eligible to participate in the elections to the first Council of the Institute. The Annual membership fee being collected would be valid for the period upto 310307. Those who have paid membership fee as per notice dated 26th November, 2005 are being refunded the excess fee paid. Details about IIISLA, including the application form for membership along with instructions and the Memorandum and Articles of Association, are available on IRDA website irdaindia. org. Details may also be obtained from the office of the IRDAIIISLA at 3rd 5th floors, Parishram Bhavan, Basheerbagh, Hyderabad: 500 004. Telephone Nos of Surveyors department are: 040 55626466, 040 55626467 General Telephone Nos are: 040 55820964, 040 55789768, Fax: 040 55823334. 8th February, 2006. Message for Trainee Surveyor Examination, May 2006 Trainee Surveyors Examination 1. ALL THE APPLICANTS ENROLLED WITH INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY AS TRAINEE SURVEYORS UPTO JUNE 30TH, 2005 (TRAINING ENROLLMENT NO. 3331 TO 3740) AND HAVE SUBMITTED THEIR QUARTERLY TRAINING REPORTS WITH THE AUTHORITY ARE ADVISED TO DOWNLOAD THE APPLICATION FORM FOR INSURANCE SURVEYORS EXAMINATION AND SUBMIT THE SAME ALONGWITH THE REQUISITE FEE TO INSURANCE INSTITUTE OF INDIA, UNIVERSAL INSURANCE BUILDING, 6TH FLOOR, SIR PHEROZSHAH MEHTA ROAD, MUMBAI - 400001, TELEPHONE NOS. 022-22872923 AND 22874722, FAX NO.022-22873491. 2. CANDIDATES ARE ADVISED TO APPEAR FOR THE EXAMINATION ONLY FOR THE RESPECTIVE DEPARTMENTS FOR WHICH THEY ARE ENROLLED. SURVEYORS WHO ARE LICENCE HOLDERS NOT CATEGORIZED BUT ENROLLED WITH IRDA AS TRAINEE SURVEYORS, LICENCE HOLDERS ENROLLED FOR ADDITIONAL DEPARTMENTS, PROVISIONALLY CATEGORIZED SURVEYORS AND REPEATERS ARE ALSO ELIGIBLE TO APPEAR FOR THE EXAMINATION. 3. THE LAST DATE OF SENDING APPLICATION FORMS TO INSURANCE INSTITUTE OF INDIA, MUMBAI IS 20th MARCH, 2006. INCOMPLETE APPLICATION FORM IN ANY RESPECT WILL NOT BE ENTERTAINED. 4. THE FEE STRUCTURE IS AS FOLLOWS :- ADMISSION FEE. RS.150- SECTION - I (Compulsory Paper). RS.250- SECTION - II. RS. 250- PER SUBJECT. 5. EXAMINATION TIME TABLE IS AS UNDER. SUBJECT NO. TITLE Section-I(S-01) Motor Insurance 09.30am to 12.30pm 2.00pm to 5.00pm 09.30am to 12.30pm 2.00pm to 5.00 pm Fire Ins. Marine Cargo 09.30am to 12.30pm 02.00pm to 05.00pm LOP Marine Hull 09.30am to 12.30pm CONSULTANT AND SPECIAL OFFICER 1st February, 2006. Change of name of AMP SANMAR Life Insurance Co. Ltd. Consequent to the acquisition of the entire equity capital of AMP, Australia and Sanmar Group in AMP Sanmar Life Insurance Co. Ltd. by Reliance Capital Limited, the Authority has taken note of the change of name of the company AMP Sanmar Life Insurance Co. Ltd. to that of Reliance Life Insurance Co. Ltd. and the fresh certificate of incorporation, consequent to change of name, issued by the Registrar of Companies, Tamil Nadu dated 17.01.2006. The Authority has noted the above change in its record and permitted Reliance Life Insurance Co. Ltd. (RLICL), to carry on the business of life insurance in India subject to the condition, inter-alia, that RLICL shall honour its commitments to the policyholders of AMP Sanmar Life Insurance Co. Ltd. on the same terms and conditions subject to which they were issued and that RLICL shall take necessary steps to protect the interests of the policyholders in accordance with the provisions of IRDA Act, 1999, Insurance Act, 1938 and the Rules and Regulations made thereunder. All Life Insurers, Attention is invited to IRDA circular No. IRDALife0062005-2006 dated 27 April 2005 on the subject of Keyman insurance. It has been reported that some insurers are disregarding the spirit behind that circular and are selling Partnership insurances through endowment or unit-linked plans. Insurers should not lose sight of the basic principle that a person purchasing life insurance can only do so to the extent of his insurable interest in the life assured. An employer buying keyman insurance purportedly for his own benefit cannot prove insurable interest beyond a certain cover protecting against death of the key employee and similar is the position of a partner buying insurance on the life of another partner or the partnership firm buying insurance on the lives of its partners. Accordingly, all insurers are advised strictly to ensure that where the premium for the insurance on the life of an employee is paid by the employer or where the premium on the life of a partner is paid by another partner or by the partnership firm, the scope of cover is not wider than term assurance. It is hoped that insurers will abide by these instructions in letter and in spirit. Any products designed to circumvent this circular will be considered as a deviation from good business practice besides being considered as a violation of these instructions. Please acknowledge the receipt of this circular. (C. S. Rao) Chairman All the Insurers, At present, the in-principle approval of IRDA to insurers in respect of opening of new places of business do not prescribe a time limit for the actual opening of offices. It has been observed that some of the insurance companies take an unduly long time to open new places of business after obtaining the sanction for the same from the Authority, defeating the objective of expeditious opening of branch offices to provide better reach to the customer. It has therefore been decided that effective from 1st January 01, 2006, new places of business should be opened within a period of one year from the date of approval letter from the Authority and after the expiry of the time limit, insurers have to apply afresh. 2. Insurers are advised to review the existing position in respect of the branchesoffices where in-principle approval of IRDA has been granted but the offices have not been opened for more than one year thereafter and furnish us the full details. 3. Insurers shall also intimate to IRDA henceforth, the date of opening of the approved branch office, within 15 days of its opening. (C. R. Muralidharan) Member all General Insurance Companies General Insurance Corporation of India. The Insurance Regulatory and Development Authority (General Insurance-Reinsurance) Regulations, 2000 stipulates inter alia as under: Regulation 3(7):Insurers shall place their reinsurance business outside India with only those reinsurers who have over a period of the past five years counting from the year preceding for which the business has to be placed, enjoyed a rating of at least BBB(with Standard Poor) or equivalent rating of any other international rating agency. Placements with other reinsurers shall require the approval of the Authority. Insurers may also place reinsurances with Lloyds syndicates taking care to limit placements with individual syndicates to such shares as are commensurate with the capacity of the syndicate. The above mentioned provision requires insurers to choose appropriate reinsurers abroad for placing their reinsurances. There is no limitation on use of Indian insurers or reinsurers for placement of reinsurance since they are regulated by IRDA. It has come to the Authoritys notice that some insurers are agreeing to the insured choosing the reinsurers either directly or indirectly. The Authority reiterates that the contract of insurance is independent of the contract of reinsurance and the client is not a party to the contract of reinsurance. It is the function and responsibility of the insurance company to choose the appropriate reinsurers within the framework of the Regulations. The Authority will therefore not permit any insurer to dilute this function and responsibility by permitting the broker or the insured to specify conditions with regard to reinsurance placements or leaving the choice of the reinsurers directly or indirectly to the insured. Non-compliance of the directives contained herein shall invite appropriate action of the Authority. (C. S. Rao) Chairman The IRDA and the Indian Institute of Insurance Surveyors and Loss Assessors (the Institute) had, vide a notice dt. 26-11-2005 invited applications for membership of the Institute indicating the fee structure which was as follows: Entry fee - Rs. 10,000- for surveyors existing on cut-off date, i. e.20-11-2000 Rs. 5,000- for surveyors enrolled after cut-off date Annual subscription - Fellow Rs 3,500- Associate Rs.2,500- The IRDA and the Institute have received representations from a large section of surveyors indicating that they would find it difficult to pay the entry fee and annual subscription as notified vide notice dated 26-11-05. The matter was put before the Ad-hoc committee of surveyors and after due consideration it was decided by the Institute and the IRDA that the fee structure would be revised as follows: One-time entry fee. Rs. 5,000- (uniform for all members) Annual fee - Fellow. Rs. 2000- Associate. Rs. 1500- The due date for submission of the applications has also been extended up to 28-02-2006. The annual fee paid now would be valid for the period up to 31-03-2007. The Institute and the IRDA hereby invite all eligible surveyors and loss assessors (i. e. surveyors who are both licensed and categorized) to enroll themselves as members of the Institute by paying the prescribed fee and submitting the duly filled in application form along with the required enclosures on or before 28-02-2006. All surveyors who have already sent the application with the fees notified earlier would be refunded the excess fees. For further details, application form, instructions, etc. kindly access the website irdaindia. org. (M M SIDDIQUI) Consultant Spl. Officer The Authority had issued new Guidelines for Corporate Agents vide Circular Ref: 017IRDACircularCA Guidelines2005 dated 14th July, 2005. Clause 7 of the aforesaid Guidelines reads as under: The Chief Insurance Executive, the designated officer and other specified persons who will be employed by the applicant should be whole time employees of the applicant. Atleast one of the persons should have insurance qualification to the extent of FFII or AFII or such qualification or experience that IRDA may at its sole discretion, consider adequate. The Authority has received a number of representations from the Insurers seeking relaxation of the above guideline in respect of issuance of fresh licenses as well as renewal of existing licenses on the ground that persons with FFII AFII or equivalent qualifications are not readily available. Some of the insurers have indicated that they had instructed their CIE or SP to acquire the requisite qualification which will take some more time. The Authority, after careful examination of the difficulties expressed by the Insurers and also having regard to the need to follow the above guidelines scrupulously for the ordely development of the Industry, has decided as under: i) In so far as issuance of new licenses of Corporate Agents are concerned, there shall be no relaxation whatsoever of the Guidelines dated 14th July, 2005. (ii) However, in case of existing licenses that come up for renewal, the aforesaid Clause 7 of the Guidelines will not be enforced till 1st April, 2007 and the renewal will be provisional subject to review by 1st April, 2007. (iii) All other provisions of the Circular dated 14th July, 2005 shall be implemented in toto. (V Vedakumari) Executive Director 21st December 2005. Press release - Guidelines to insurers in respect of design of products under Unit-Linked Life Insurance Plans The Insurance Regulatory and Development Authority has issued today Guidelines to insurers in respect of design of products under Unit Linked Life Insurance Plans. The Guidelines are intended mainly to ensure that they lead to greater transparency and understanding of these products to the insured, since, the investment risk is borne by the policyholders. The Guidelines concurrently envisage extension of minimum insurance cover to be offered under the products (with exceptions in respect of the pension and the annuity products) and certain prudent practices on other features of ULIP products like partial withdrawals, top-up premiums, etc. to meet the objective of greater flexibility and long term protection to the insured. The Guidelines define the nomenclature of various charges and how they are to be levied, so that the customers are clearly aware of various charges under the product and are apprised of the unit prices on a daily basis. For more details, the IRDAs website may be consulted at irdaindia. org. (C. R. MURALIDHARAN) MEMBER This is further to our notice dated 26th November, 2005 inviting applications for membership to the Indian Institute of Insurance Surveyors and Loss Assessors. The Insurance Regulatory and Development Authority (IRDA) and the Indian Institute of Insurance Surveyors and Loss Assessors (the Institute), along with the Ad-hoc Committee of Surveyors constituted for the purpose of assisting IRDA in setting up the Institute, are organizing meetings for the benefit of all Surveyors who are eligible to become members of the Institute. The last of these meetings would be held in Hyderabad at the venue mentioned below at 14.30 Hrs. on 27th December, 2005: Surana Udyog Auditorium Federation of Andhra Pradesh Chambers of Commerce Industry 11-6-841 Red Hills Post Box No.14 Hyderabad - 500004. The meeting might be subject to change and details of modifications, if any, shall be indicated on our website (irdaindia. org). All eligible Surveyors and Loss Assessors of Andhra Pradesh region are invited to attend the meeting at the aforesaid venue. ( P. C. James ) Executive Director (NL) The existing procedure for grant of permission by RBI for opening of an office by an insurance company registered outside India has been revised in consultation with the Government of India and it has been decided that hence forth such permission would be granted by IRDA. In this context a Liaison Office would mean a place of business to act as a channel of communication between the Principal place of business or Head Office by whatever name called and entities in India but which does not undertake any commercial trading industrial activity, directly or indirectly, and maintains itself out of inward remittances received from abroad through normal banking channel. Persons desirous of opening liaison offices shall apply to the Insurance Regulatory and Development Authority in Form IRDA - FIC -1 attached as Annexure 1 . The applicant company shall be required to comply with the terms and conditions of the General Permission granted by RBI under the Foreign Exchange Management Act, 1999 and any other law in force. The permission for opening of liaison office in India by an insurance company registered outside India are subject to the terms and conditions as may be additionally stipulated by the Authority from time to time. In order to streamline, regulate and develop the profession of Surveyors Loss Assessors, the Bhandari Committee, appointed by the Ministry of Finance, Government of India, had proposed that it was necessary to promote the establishment of an institute for Surveyors and Loss Assessors. The Ministry of Finance accepted the recommendation and advised the IRDA to promote an institute on the model of the Institutes of Company Secretaries or Chartered Accountants. From three years of its establishment, the institute would be considered for conferment of a chartered status. In furtherance of the Ministrys advice, IRDA has got the Indian Institute of Insurance Surveyors and Loss Assessor incorporated on 4th October, 2005 under Section 25 of the Companies Act, 1956. The Institute has its registered office at Hyderabad. The main objects of the Institute. inter alia, are promotion of quality in the profession of surveyors and loss assessors through education and training, introduction of best practices amongst its members, conduct of professional examinations relating to the profession of surveyors and loss assessors, promotion of research and studies in loss control and minimization techniques, development and administration of code of conduct and ethics among the surveyors and loss assessors and ensuring compliance of the same. The Certificate of Incorporation and the Memorandum and Articles of Association of the Institute can be accessed at irdaindia. org. (The Institute is in the process of enrolling members and the Application form for this purpose is hosted alongside this notice. Surveyors and loss assessors holding valid licence as well as categorization issued by the IRDA are eligible to become members of the Institute. There are two classes of membership, viz Associate and Fellow and criteria therefor are mentioned in the annexure to the Application form. Membership fee: One Time entry fee - Rs.10,000- for existing surveyors on cut-off date Rs.5,000- for members enrolled thereafter. Cut-off date for this purpose would be 20112000 i. e. the date on which IRDA (Insurance Surveyors and Loss Assessors ) Regulations, 2000 came into force. Annual Membership fee: Fellow: Rs.3500- Associate: Rs.2500- The IRDA and the Institute hereby invite all eligible surveyors and loss assessors fulfilling the above criteria to enroll themselves as members of the Institute by paying the prescribed fee and submitting the duly filled in application form along with the required enclosures on or before the expiry of 60 days from the date of this notice. (P. C. JAMES) EXECUTIVE DIRECTOR WHEREAS Ms. Inspire Ensurance Broking Solutions Pvt. Ltd.(hereinafter referred to as broker) a Direct Insurance Broker having Insurance Broking License No. 201, Code No. DB096-03 presently having Regd. Office at Commerce House, 5th Floor, 2 A, Ganesh Chandra Avenue, Kolkatta had voluntarily approached this Authority vide their letters dated, 15th October and 13th May, 2005, to surrender the direct insurance broking license granted to them. WHEREAS the Authority had put up a Notice No. IRDADB09603 dated 20th June, 2005 on its website inviting all concerned to express their objectionsclaims, if any, with regard to the voluntary surrender of the insurance broking license by the broker within 30 days from the publication of this notice. The Authority did not receive any objections or claims against the request of surrendering the license made by the broker. NOW THEREFORE, The Authority in exercise of powers conferred under section 14(2)(a) of IRDA Act, 1999 hereby withdraws the License NO. 201 granted to the broker Code No. DB096-03. This is issued for the information of all concerned in public interest. (P. C. James) Executive Director The Law Commission submitted its Report to the Government of India, vide letter D. No. 6(3)(75)2002-LC (LS) on 1st June 2004, indicating the amendments modifications to the Insurance Act 1938. While submitting the Report to Government of India, the Law Commission opined that in respect of a few areas, a detailed examination by the experts is needed. Consequently, the Commission did not indicate any amendments or modifications to these sections of Insurance Act, 1938, which require inputs from those with domain knowledge. The Authority has. therefore, constituted a Committee with Sri K. P. Narasimhan as Chairman on 7th March 2005 to give a report to the Authority on the following:- 1. The areas in which the Commission suggested examination by insurance experts. 2. The areas in which the Commission did not recommend any modification at all, but require changes. 3. Suggestions if any, on the recommendations made by Law Commission. 4. Any new sections, which may be created to suit to the needs of the stakeholders of the insurance industry. The Committee has submitted its report. The KPN Committees Report is kept on IRDAs website at irdaindia. org. The Law Commission Report is also available on the website at lawcommissionofindia. nic. in. The Authority would be happy to receive the comments on the Report of the KPN Committee and also the Law Commission. You are requested to send your views either by e-mail: commentskpncirdaonline. org or by post to the Authority to the following address. Sri K. Subrahmanyam, Executive Director, Insurance Regulatory and Development Authority, 3 rd Floor, Parishram Bhavan, Basheer Bagh, Hyderabad - 500 004.
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