Moneycontrol online trading game

Untuk berpartisipasi dalam Kompetisi, Kontestan harus log on ke moneycontrol dan memprediksi nilai penutupan Sensex untuk hari entri Kontes akan berlaku hanya jika mereka memiliki id email yang valid dan terverifikasi Kontestan perlu masuk sebelum menebak nilai penutupan Kontes Sensex. Tutup pada setiap hari pasar di 2:30 PM (IST) Kontestan diperbolehkan untuk mengubah tebakan mereka sampai pukul 14.30. Jika mereka mengubahnya setelah pukul 14.30, entri mereka akan ditandai sebagai tebakan untuk hari perdagangan berikutnya Peserta dengan perkiraan terdekat dan jawaban yang benar akan menjadi pemenang Pemenang yang akan diputuskan pada pukul 5:00 PM (IST) Pemenang akan dikomunikasikan oleh Kontes email Dimulai dari tanggal 18 Januari 2017 dan berakhir pada tanggal 7 Februari 2017 Gratifikasi untuk Hadiah akan dimulai dari tanggal 23 Januari 2017 dan berakhir pada tanggal 3 Februari 2017 Hanya satu pemenang yang berhak mendapatkan hadiah Voucher senilai Rs. 5OOO akan diberikan kepada pemenang harian setiap hari selama kontes IPAD Mini 2 32GB akan diberikan kepada pemenang pada hari anggaran Kompetisi ini terbuka untuk warga negara India di atas usia 18 tahun Pemenang harus memiliki Kartu PAN yang valid untuk mengklaim hadiah tersebut. Hadiah akan selang setelah 30 hari jika tidak diklaim sebagai moneycontrol juga berhak mengganti hadiah andor dan jumlah pemenang per hari, sewaktu-waktu selama kompetisi atas kebijakannya sendiri. Hadiah harus tidak dapat dialihkan dan harus diterima sebagai penghargaan. Tidak ada permintaan uang tunai atau substitusi lainnya yang harus dilakukan untuk pengendalian uang Apakah saya perlu menjadi pengguna terdaftar untuk menghadapi tantangan ini Untuk dapat menghadapi tantangan ini, Anda dapat login dengan id bisnis atau login jaringan sosial seperti facebook, twitter, google atau yahoo . Apakah ada batasan berapa banyak pengajuan pengguna yang dapat dilakukan No, pengguna dapat membuat sejumlah tebakan sampai batas waktu yang ditentukan yaitu pukul 14.30 untuk hari tertentu dan mengeposkannya untuk hari perdagangan berikutnya. Bagaimana pengguna memainkan The Great Sensex Challenge Pengguna perlu masuk dengan id pengguna dan kunci validnya dalam nilai penutupan Sensex untuk hari itu. Bagaimana seseorang menjadi pemenang mingguan Kondisi berikut harus dipenuhi agar peserta menjadi pemenang mingguan Peserta dengan jumlah poin tertinggi dan perkiraan tebakan terdekat. Dalam kasus dasi orang yang telah memasukkan dugaan kemenangan sebelumnya. Berapa pemenang akan diumumkan setiap hari Tiga pemenang akan diumumkan setiap hari. Sementara tebakan terbaik Sensex mendapat lima poin. Yang lain mendapatkan tiga poin dan tebakan ketiga mendapat satu poin. Jam berapa pemenang harian dan mingguan diumumkan Pemenang harian akan diumumkan setiap hari perdagangan pukul 17:00 (IST) dan Pemenang Mingguan akan diumumkan setiap Jumat pukul 17:00 (IST) Bagaimana kondisi agar seseorang bisa menjadi Memenuhi syarat sebagai pemenang harian atau mingguan Peserta harus mematuhi yang berikut ini: Seorang pengguna harus memiliki id pengguna id pengaman uang id terverifikasi yang sah Hanya untuk warga negara India di atas usia 18 tahun Pemenang harus memiliki Kartu PAN yang valid Bagaimana pemenangnya diberi tahu Tentang kemenangannya Pemenang akan diinformasikan melalui id email terdaftar mereka. A. Masuk ke kontes ini merupakan penerimaan Anda terhadap persyaratan dan ketentuan berikut: 1. Kontes terbuka hanya untuk warga negara India yang tinggal di India, dan berusia 18 tahun atau lebih. Karyawan, pejabat, direktur, E-eighteen Ltd dan Perusahaan yang menjadi tuan rumah Platform Kontes dan entitas terkait mereka dan tanggungan masing-masing, anggota keluarga dekat (orang tua, anak, saudara kandung dan pasangan) dan orang-orang yang berada di rumah mereka yang sama tidak memenuhi syarat untuk Masuk atau memenangkan hadiah 2. Untuk berpartisipasi dalam Kompetisi, Kontestan harus log on ke moneycontrol dan memprediksi nilai penutupan Sensex pada hari itu. Dengan mendaftar untuk Kontes, masing-masing peserta menyetujui peraturan kontes dan menjamin bahwa dia memenuhi semua persyaratan yang tercantum dalam persyaratan dan ketentuan peraturan. 3. Semua komunikasi akan dikirim hanya melalui id surat tercatat yang digunakan untuk pendaftaran. Entri kontestan hanya berlaku jika mereka memiliki id-email yang valid dan terverifikasi. Pendaftaran akan dikenali oleh surat konfirmasi dari Moneycontrol. Kontestan Peserta diharapkan bisa memberikan informasi yang akurat. 4. Peserta dapat mengikuti kontes dengan persyaratan sebagai berikut: a. Peserta wajib memberikan salinan data PAN Card yang valid. B. Moneycontrol E-Eighteen Limited berhak meminta bukti tambahan dokumenter informasi. Jika permintaan tersebut dibuat, Peserta harus mematuhi dalam waktu 3 hari sejak tanggal permintaan dibuat, sehingga Peserta dapat didiskualifikasi dari keikutsertaan dalam Kontes. C. Peserta harus memastikan untuk memasukkan dan memeriksa id email dan nomor ponsel Anda selama pendaftaran. D. Kontestan diizinkan untuk mengubah tebakan mereka sampai pukul 14.30. Jika mereka mengubahnya setelah pukul 14.30, entri mereka akan ditandai sebagai tebakan untuk hari perdagangan berikutnya. E. Peserta dapat mengikuti kontes hanya selama tanggal dan slot waktu yang terdaftar. F. Peserta dapat berpartisipasi dalam kontes hanya pada slot waktu yang ditentukan. G. Kontestan perlu masuk sebelum menebak nilai penutupan Sensex. H. Peserta akan bertanggung jawab untuk membuat semua pengaturan untuk berpartisipasi dalam kontes, termasuk komputer, koneksi internet konstan, power back up dll. Penyelenggara tidak bertanggung jawab atas kegagalan teknis dari peserta akhir. 5. Peserta atau pemenang dapat didiskualifikasi karena alasan berikut: a. Peserta tidak memenuhi syarat berdasarkan persyaratan kelayakan. B. Peserta telah memberikan informasi yang salah atau tidak benar sehubungan dengan rincian yang dicari dari Peserta. C. Peserta lomba belum mematuhi peraturan kontes. D. Peserta terlibat dalam kegiatan penipuan atau ketidakpatuhan persyaratan amp atau peraturan lainnya yang berlaku. Dalam kasus seperti itu, Moneycontrol (E eighteen Ltd) berhak mendiskualifikasi peserta dan mengumumkan peserta kualifikasi berikutnya sebagai pemenang atau tidak mengumumkan pemenang sama sekali. 6. Pengumuman yang berkaitan dengan pemenang Kontes a. Final Weekly Winners akan diumumkan setiap Jumat pukul 17:00 (IST) dan pemenang mingguan akan diberitahu melalui id email yang terdaftar. B. Jika Hadiah yang ditawarkan dalam Kontes tidak dicairkan oleh pemenang masing-masing dalam waktu 30 hari setelah pengumuman pemenang oleh Moneycontrol E-eighteen Ltd karena alasan apa pun Hadiah tersebut akan hilang dan dibatalkan dan pemenang tersebut tidak dapat mengajukan tuntutan Moneycontrol E-eighteen Ltd, mitra, agen, penyedia layanan, direktur, karyawan, dll. C. Peserta memahami dan menyetujui bahwa Moneycontrol E-eighteen Ltd berhak mutlak untuk mengubah hadiah andor dan jumlah pemenang per hari, sewaktu-waktu selama kompetisi atas kebijakannya sendiri. D. Moneycontrol E-eighteen Ltd tidak bertanggung jawab atas keterlambatan atau kerugian yang mungkin timbul dalam pengiriman barang dan jasa atau hadiah. E. Hadiah untuk Kompetisi ini tidak dapat dipindahtangankan dan harus diterima sebagai penghargaan. Tidak ada permintaan uang tunai atau penggantian lainnya dilakukan pada Moneycontrol. Hadiahnya tidak dapat dipindahtangankan. Hadiah diberikan untuk kepentingan pengguna dan diharapkan dapat digunakan hanya oleh pengguna. F. Tidak ada penggantian atau pertukaran Hadiah, selain yang dirinci dalam komunikasi yang dikirim ke Pemenang diperbolehkan dalam keadaan apapun. Namun, Moneycontrol E-eighteen Ltd berhak mengganti dan mengganti Hadiah atau salah satu dari mereka karena tidak tersedianya Hadiah, tanpa ada pemberitahuan atau pemberitahuan, tertulis atau tidak kepada Pemenang. G. Pemenang harus memiliki Kartu PAN yang valid untuk mengklaim hadiahnya. H. Moneycontrol (E-Eighteen Ltd) tidak akan menanggung biaya tambahan sehubungan dengan hadiah tersebut. saya. Moneycontrol E-eighteen Ltd tidak menjamin garansi dan tidak membuat pernyataan tentang kualitas, kegunaan, kelayakan, pengiriman atau barang dan jasa atau Hadiah yang ditawarkan. Moneycontrol (E-Eighteen Limited) untuk keterlambatan atau kerugian yang mungkin timbul dalam pengiriman barang dan jasa atau hadiah atau klaim kerusakan kerugian yang mungkin timbul dari penggunaan atau pemberian hadiah barang-barang yang dicairkan oleh Pemenang di bawah kontes. J. Pemenang akan menggunakan Hadiah sepenuhnya atas risikonya sendiri dan akan mengganti kerugian dan menahan Moneycontrol E-eighteen Ltd tidak berbahaya karena kecelakaan, kerusakan, kematian, kerusakan, biaya dan kerugian yang dialami oleh Pemenang karena kepemilikan atau penggunaan Hadiah. Menang dalam kompetisi K. Hadiahnya tidak termasuk: transfer dalam negeri, akomodasi, pengeluaran pribadi, asuransi, retribusi pemerintah, pajak atau biaya tak terduga, selain yang disebutkan di sini. L. Pajak atau kewajiban atau biaya lain yang harus dibayarkan kepada pemerintah atau pihak lain yang berwenang atau pihak yang berpartisipasi, yang mungkin timbul atau diterima oleh Pemenang karena pemberian Hadiah, adalah satu-satunya dari Pemenang. Pajak yang dikurangkan pada sumbernya, jika ada, atas nilai uang Hadiah harus dibayarkan oleh Pemenang. M. Semua masalah mengajukan keluhan keluhan yang berkaitan dengan Hadiah, jika ada, harus ditujukan pada pengendalian uang umpan balik. Hal yang sama harus ditangani dalam jangka waktu 7 hari setelah tanggal penerimaan. Sebuah. Partisipasi dalam kontes bersifat sukarela. B. The Great Sensex Challenge akan dilakukan secara online melalui platform penilaian kami. C. Dengan menggunakan portalwebsiteplatform ini, pengguna setuju bahwa mereka telah membaca, memahami dan menyetujui Aturan, Ketentuan Ketentuan Kontes. Dengan menerima Persyaratan Ketentuan Sensex Challenge Besar, Anda terikat oleh sebuah kode kehormatan untuk menghadapi Tantangan tanpa bantuan atau dukungan dari orang lain dan secara adil. D. Berpartisipasi dalam Kontes merupakan izin untuk menggunakan nama dan foto Pemenang (semua berdasarkan kebijaksanaan E-eighteen Ltd Moneycontrols) untuk iklan, publisitas masa depan di semua media yang sekarang atau akhir-akhir ini dirancang di seluruh dunia untuk selamanya, tanpa kompensasi tambahan, pemberitahuan atau izin. E. Peserta setuju bahwa data pribadi, terutama id nama dan email, dapat diproses, dibagi dan digunakan untuk tujuan dan dalam konteks Kontes dan tujuan lain yang diuraikan dalam syarat dan ketentuan sebagaimana diuraikan di sini. Data tersebut juga dapat digunakan oleh Moneycontrol E-eighteen Ltd untuk memverifikasi identitas Peserta, alamat email, dan rincian lain yang diperlukan atau untuk memverifikasi keabsahan Peserta untuk memenangkan Hadiah dalam Kontes. F. Syarat dan ketentuan ini berlaku untuk semua peserta yang berpartisipasi dalam kontes Great Sensex Challenge. Peserta dapat berpartisipasi dalam Kontes Great Sensex Challenge hanya jika dia setuju dengan Syarat dan Ketentuan. G. Setelah Peserta mendaftar, peserta tersebut tidak dapat mengubah nama peserta menjadi individu yang berbeda. H. Setiap perselisihan yang timbul dari hal ini harus tunduk pada yurisdiksi eksklusif pengadilan tinggi Mumbai. saya. Situs web dapat menyediakan hyperlink dan atau iklan ke situs web pihak ketiga. Situs web ini tidak dimiliki atau dikendalikan oleh Moneycontrol E-eighteen Ltd. Harap dicatat bahwa Moneycontrol E-eighteen Ltd tidak bertanggung jawab atas informasi pribadi yang dikumpulkan oleh pihak ketiga, simpan dan gunakan melalui situs web mereka. Peserta harus selalu membaca kebijakan privasi masing-masing situs yang dikunjungi oleh sheher. J. Semua informasi tentang Hadiah dalam komunikasi hanya bersifat indikatif. K. Dalam semua hal yang berkaitan dengan Kontes, keputusan Moneycontrol E-eighteen Ltd bersifat final dan mengikat dalam semua hal. L. Syarat dan ketentuan ini harus menjadi tambahan dan bukan dalam penghentian substitusi terhadap Aturan Kontes atau peraturan lainnya yang diberitahukan oleh Moneycontrol E-eighteen Ltd dari waktu ke waktu. M. Moneycontrol E-eighteen Ltd berhak mengubah semua atau semua persyaratan yang berlaku pada Kontes Great Sensex Challenge tanpa memberikan alasan apapun atau tanpa ada pemberitahuan sebelumnya. Moneycontrol E-eighteen Ltd juga berhak untuk mengubah menghentikan kontes tanpa memberikan alasan atau tanpa pemberitahuan sebelumnya. Perubahan yang dilakukan pada peraturan akan diposkan di situs ini di bagian peraturan. Kami percaya bahwa pergerakan pasar dapat diprediksi dengan menggunakan Technical Analysis dan memberikan kesempatan bagi investor trader teknis, baru atau berpengalaman, untuk menghasilkan uang. Caranya adalah bimbingan yang tepat waktu dan andal. Semua ini menggabungkan untuk membentuk Daily Newsletter kami. Untuk dapat mengidentifikasi dan berbagi peluang perdagangan yang konkret dan konsisten di Pasar Keuangan berdasarkan pada Solid Research Handal sistem yang dikembangkan sendiri. Pergerakan pasar bisa diprediksi dengan menggunakan Technical Analysis. Pasar memberi peluang bagi pedagang teknis baru atau berpengalaman, untuk menghasilkan uang. Caranya adalah bimbingan yang tepat waktu dan andal. Semua ini menggabungkan untuk membentuk Daily Newsletter kami. Newsletter tersebut berisi kebijaksanaan pasar Sudarshan Sukhani, Indias yang terkenal dan dikagumi oleh analis teknikal. Ini mencakup stok rinci, gagasan analisis pasar. Kami mengandalkan Analisis Teknis secara eksklusif untuk keputusan trading kami yang sebenarnya. Backbone kami: Perangkat lunak Charting Sangat penting untuk memiliki perangkat lunak charting yang tepat untuk melakukan perdagangan yang benar. Kami menggunakan Trend Analyzer, perangkat lunak charting dan analisis profesional yang hadir dengan peralatan canggih. Ini membantu menentukan: Trend, Momentum untuk saham, futures, komoditas, dan perdagangan mata uang NSE. Kenali peluang yang konsisten di: Ekuitas, Futures, Options, Metals, Currencies Chairman dan Managing Director Sudarshan Sukhani adalah salah satu analis teknis terbaik di India. Dia adalah Teknisi Keuangan Bersertifikat, sebuah pengakuan yang diberikan oleh Federasi Analis Teknik Internasional, AS dan juga Presiden Asosiasi Analis Teknik (ATA) India. Dia adalah kehadiran konstan sebagai analis pasar moneycontrol, CNBC-TV18 dan platform terkemuka lainnya. Dia adalah seorang chartist yang berkualitas dan telah melakukan lebih dari lima puluh seminar mengenai analisis teknis. Dia juga penulis buku Trading the Markets, sebuah buku terlaris tentang gagasan perdagangan saham yang dapat ditindaklanjuti. Seorang pedagang saham penuh waktu sejak 1993, penelitian Sukhanis mencakup ratusan buku, metode kursus trading. Pada tahun 1996, dia adalah salah satu pengguna analisis teknis otomatis pertama di India, dan terus mengikuti jalur perdagangan sistematis. Untuk mendapatkan akses ke mailer secara real time di ponsel Anda, masuk ke m. moneycontrolgamechangers Jika Anda tidak puas dengan Sudarshan Sukhani. Cukup beritahu kami dalam waktu 7 hari dan jumlah langganan penuh akan dikembalikan. Bahkan jika Anda berubah pikiran, Anda akan menerima pengembalian dana pro-nilai untuk sisa masa berlangganan Anda. Nifty Index: Keseluruhan tampilan pasar Setiap aspek Indeks Nifty dianalisis pada grafik harian, dan terkadang pada grafik mingguan. Pandangan mingguan dianalisis untuk mengidentifikasi tren jangka panjang. Analisis mencakup tren indeks jangka pendek, menengah dan utama seiring dengan dukungan dan resistannya. Tampilan diberikan untuk pedagang indeks. Rekomendasi disediakan untuk perdagangan jangka pendek dan posisi dengan tingkat masuk dan stop loss. Newsletter juga mencakup keseluruhan tampilan pasar dan grafik anotasi Nifty, Bank Nifty dan CNX IT. Ini juga mencakup sektor-sektor di pasar saham yang mengungguli, underperform dan mungkin mengalami perubahan kepemimpinan. Logam Mulia, Mata Uang, Pasar Dunia, juga secara berkala ditinjau dan relevan. ANALISIS TEKNIS: STRATEGI KONSEP Konsep Teknis Konsep Strategi yang relevan dijelaskan dari waktu ke waktu dengan menggunakan grafik. Kas dan Futures: Gagasan Newsletter memuat saham yang cenderung membuat pergerakan tren dalam jangka pendek. Sebagian besar ide akan menjelaskan indikasi teknis dibalik hal yang sama. Kebanyakan dari mereka mungkin juga mengandung stop loss sekaligus menggambarkan kondisi dimana perdagangan harus atau tidak boleh dilakukan. Strategi Nifty, bank Nifty dan CNX IT untuk trader swing The Newsletter juga akan menyertakan opsi Nifty Options dan Bank Nifty Options untuk jangka pendek, dan juga untuk bangunan Penghasilan. Ini juga akan berbagi gagasan dalam Gold, Silver Currencies saat dan saat peluang menarik muncul. Jangkauan tipikal dari ide jangka pendek kami rata-rata 2 sampai 3 hari (terkadang kurang dalam lingkungan pasar yang berombak). Seringkali, gagasan jangka panjang diberikan yang memiliki masa simpan minimal 5 hari sampai beberapa minggu. Semua gagasan yang disebutkan dilacak secara teratur. Penafian: Peringatan SMS adalah layanan gratis yang ditawarkan oleh poweryourtrade kepada pelanggannya. SMS ini dikirim setiap hari secara real-time, namun menerima mereka tepat waktu bergantung sepenuhnya pada operator. Kami bekerja sama dengan operator untuk memastikan layanan yang cepat dan lebih baik untuk pengiriman SMS. Sementara itu, kami meminta Anda untuk memeriksa situs pembaruan, di mana kami memberikan informasi yang cepat dan tepat waktu. 21 Februari 2017 Nifty ditutup di atas 8900 indeks mempertahankan uptrend untuk sesi kedua berturut-turut Selasa, dipimpin oleh NBFC dan PVT bank tren jangka pendek adalah sampai indeks bank adalah perdagangan di dekat waktu hidup tertinggi tinggal lama dengan berhenti mengencangkan Tren jangka pendek adalah Sekarang di BANK NIFTY. Kami panjang dalam indeks. Carilah pembelian di PVT BANK saja. Kami juga akan membahas saham BHARATFORG dan HDFC dengan perdagangan. Untuk masing-masing saham ini, kami menganalisis gambaran teknis mereka mengidentifikasi perdagangan dengan stop loss dan target. Kami akan membahas konsep TRADING IN A CHOPPY MARKET di segmen terakhir kami ULASAN. Saham Industri Reliance melesat lebih dari 10 persen dalam perdagangan Rabu, sehari setelah ketua perusahaan Mukesh Ambani mengungkapkan rencana tarif baru untuk armada telekomunikasi Reliance Jio. Wed, 22 Feb 2017 13:45:20 0530 Tentang bagaimana kebijakan proteksi Presiden AS Donald Trump dapat mempengaruhi saham IT dan farmasi, Rahul Ajmera, CEO, US Office, IIFL Institutional Equities, mengatakan bahwa Trump telah berada di kantor hanya selama empat minggu dan Masih terlalu dini untuk berspekulasi. Wed, 22 Feb 2017 12:52:23 0530 Pasar terus berlanjut tanpa henti dengan dukungan dana dari arus dana domestik, namun Saurabh Mukherjea dari Ambit Capital berhati-hati mengingat kelemahan makro yang terlihat. Rabu, 22 Feb 2017 10:53:07 0530 Pasar global telah menarik dan mendukung. Di dalam negeri, secara anekdot juga, karena angka-angka sulit menunjukkan bahwa lebih banyak penghematan keuangan telah dikerahkan ke ekuitas melalui reksa dana dan berbagai rute, yang mendorong pasar saat ini, kata Dipan Mehta. Tue, 21 Feb 2017 19:02:45 0530 Jyotivardhan Jaipuria Pendiri dan Managing Director, Veda Investment Managers mengatakan, India telah mengungguli pasar negara berkembang dan mengharapkan pasar mengalami koreksi 5-7 persen. Sel, 21 Feb 2017 16:38:04 0530 Jim Walker dari Asianomics khawatir tentang kenaikan harga konsumen dan bagaimana hal itu dapat mempengaruhi pasar. Seiring dengan kenaikan harga konsumen, para pembuat kebijakan, katanya, akan dipaksa memperketat kebijakan sementara pertumbuhan ekonomi meningkat. Selasa, 21 Februari 2017 13:48:29 0530 Saham 50-saham Nifty telah melakukan rally fenomenal selama delapan minggu terakhir namun Gautam Shah, Analis Teknik Associate Director di JM Financial merasa pasar sekarang berada pada titik belok utama. Dia melihat sedikit kemungkinan indeks memukul tertinggi waktu hidup dalam jangka waktu berjalan. Tue, 21 Feb 2017 11:55:46 0530 Pembelian kembali yang diumumkan oleh Tata Consultancy Services merupakan awal yang baik bagi sektor TI untuk mengembalikan kelebihan uang kepada para investor, sementara juga meningkatkan laba atas laba (RoE), kata Nilesh Shah Modal Envision. Sel, 21 Feb 2017 11:38:36 0530 Meski optimisme seputar India cukup tinggi, investor asing mengamatinya dengan hati-hati, memilih untuk menunggu pendapatan kuartal keempat sebelum melakukan investasi, kata GV Giri, Kepala Riset di Ekuitas Kelembagaan IIFL Berbicara dengan CNBC-TV18 dari sela Konferensi 2-hari IIFL Enterprising India. Selasa, 21 Februari 2017 09:34:25 0530 Berbicara dengan CNBC-TV18, pakar pasar Ashwani Gujral mengatakan bahwa Nifty hanya berjarak 100 poin dari level tertinggi sebelumnya, yang harus dilalui saat Bank Nifty mempertahankan di atas harga tertinggi sebelumnya, Hanya masalah waktu yang menurut Nifty sesuai. Mon, 20 Feb 2017 16:33:22 0530 Menimbang Trumps kebijakan dapat mendorong pertumbuhan dan akibatnya permintaan akan layanan TI di AS, akan sangat baik bagi perusahaan IT India untuk mulai memproduksi beberapa layanan mereka di sana dan merapikan perekrutan lokal , Kata John Praveen, Kepala Strategi Investasi di Pramerica International Investment Advisors. Mon, 20 Feb 2017 13:19:24 0530 Bharat Financial memiliki jaringan yang kuat di pasar pedesaan di India dan akan menjadi win-win jika bank seperti IndusInd dapat memperolehnya, kata Digant Haria, Antique Stock Broking. Mon, 20 Feb 2017 12:04:48 0530 Meskipun sektor ini telah berada di bawah kinerja terdepan di masa lalu, saham telekomunikasi India sangat menarik dari perspektif tiga tahun, menurut S Naren, Direktur Eksekutif Chief Investment Officer di ICICI Prudential. Mon, 20 Feb 2017 10:36:10 0530 Watch Investor Camp, yang diadakan di Mumbai, di mana SP Tulsian sptulsian berbagi bacaan dan pandangannya di pasar dan apa yang ada di depan. Sat, 18 Feb 2017 13:47:55 0530 Meskipun ia menambahkan bahwa investor telah mengikuti dengan ketat mengikuti Narendra Modi setelah keputusannya untuk melarang mata uang denominasi yang tinggi tahun lalu. Jadi, setiap kehilangan atau kehilangan BJP dengan selisih besar kemungkinan akan mempengaruhi pasar, tambahnya. Jum, 17 Feb 2017 20:06:33 0530 Isu publik terdiri dari penjualan saham baru hingga 1 saham ekuitas crore perusahaan. Ini berhasil mencapai 39 persen dari total holding, draft red herring prospectus (DRHP) yang diajukan ke Sebi menunjukkan. Wed, 22 Feb 2017 13:02:04 0530 IPO terdiri dari saham baru senilai Rs 450 crore dan penawaran untuk penjualan 1,27 crore scrips oleh pemegang saham, menurut draf red herring prospectus. Sel, 14 Feb 2017 14:18:03 0530 Perusahaan memperkirakan bahwa pencatatan saham ekuitas akan meningkatkan visibilitas dan citra merek kami dan memberikan likuiditas kepada para pemegang saham. Listing juga akan menyediakan pasar umum untuk saham ekuitas di India, kata Eris dalam draf dokumen. Fri, 10 Feb 2017 12:40:04 0530 Fri, 10 Feb 2017 12:39:43 0530 Wed, 08 Feb 2017 17:11:44 0530 Perusahaan telah mengajukan draf red herring prospectus (DRHP) dengan Sebi pada bulan September. Regulator pada 3 Februari mengeluarkan pengamatan terakhir pada dokumen penawaran draft, yang diperlukan bagi perusahaan untuk meluncurkan penawaran umum. Selasa, 07 Februari 2017 09:42:09 0530 Pertunjukannya spektakuler oleh saham BSE (dahulu Bombay Stock Exchange) pada hari Jumat. Saham tersebut berada di Rs 1.069,20 di Bursa Efek Nasional, naik 32,65 persen dari harga penerbitan Rs 806. Fri, 03 Feb 2017 17:37:35 0530 Pada hari Jumat, BSE secara resmi terdaftar di Bursa Efek Nasional. Tapi 23 tahun yang lalu, peluncuran NSE tidak disambut dengan baik oleh bursa tertua di Asias. Jum, 03 Feb 2017 14:05:34 0530 Ketua BSE Sudhakar Rao mengatakan kepada Moneycontrol bahwa fokusnya adalah pada memberikan janji kepada investor setelah saham tersebut memiliki debut hebat di NSE. Fri, 03 Feb 2017 11:59:26 0530 BSE telah mampu menumbuhkan pendapatan operasionalnya secara bertahap bahkan di tengah reorganisasi bisnis utama selama lima tahun terakhir, kata CEO MD Ashishkumar Chauhan dalam sebuah wawancara pasca-cetak ke CNBC-TV18 . Fri, 03 Feb 2017 11:43:58 0530 Bursa saham tertua BSE Limited tercatat di Rs 1089 per saham di Bursa Efek Nasional, naik 35 persen dari harga penerbitan Rs 806. Fri, 03 Feb 2017 10:01:42 0530 IPO terdiri dari penjualan 53.422.169 saham oleh pemegang saham yang ada, termasuk promotor dan kelompok promotor. Thu, 02 Feb 2017 15:02:03 0530 Isu yang juga merupakan penjualan saham pertama di bursa domestik, terbuka untuk penawaran pada 23-25 ​​Januari. IPO melihat permintaan investor yang kuat dan oversubscribed 51,22 kali. Thu, 02 Feb 2017 12:58:02 0530 Mon, 30 Jan 2017 08:32:07 0530 IPO menerima penawaran untuk 12.807.464 saham dengan total penerbitan saham 1.07.99.039 saham, data tersedia dengan NSE sampai 1330 jam menunjukkan. Wed, 25 Jan 2017 13:58:03 0530Re: Penutupan Tempat usaha Untuk, Semua Penanggung, Telah sampai pada pemberitahuan Otorita dimana tempat usaha perusahaan asuransi ditutup direlokasi tanpa pemberitahuan yang benar kepada pemegang polis yang menyebabkan Mereka banyak ketidaknyamanan. Otorita juga menerima keluhan dari pemegang polis yang terkena dampak. 2. Oleh karena itu, perusahaan asuransi menyarankan agar keputusan untuk menutup tempat kerja di tempat usaha mereka (terlepas dari nomenklatur mereka dan atau jenis layanan yang diberikan di dalamnya) harus mempertimbangkan semua faktor termasuk kemungkinan ketidaknyamanan bagi kliennya. Adalah penting bahwa keputusan semacam itu secara tepat diberikan kepada Dewan untuk mendapatkan informasi dengan alasan-alasannya, karena usulan pembukaan kantor cabang tersebut pada awalnya disetujui oleh Dewan. Pengumuman minimal minimal 2 bulan mengenai relokasi yang diusulkan harus diberikan kepada pemegang polis yang dilayani oleh cabang tersebut beserta pengaturan alternatif yang dilakukan untuk melayani mereka. 3. Penutupan tersebut juga harus dilaporkan ke Otorita dalam waktu satu bulan sejak tanggal penutupan tersebut. 4. Ini juga telah diputuskan untuk menstandardisasi klasifikasi tempat usaha yang diadopsi oleh berbagai perusahaan asuransi dan untuk mengumpulkan basis data kantor perusahaan asuransi. Untuk mencapai tujuan ini, perusahaan asuransi disarankan untuk mengklasifikasikan kantor cabang mereka yang ada ke cabang MetroUrban dan Pedesaan berdasarkan klasifikasi yang diberikan oleh sensus populasi terakhir (Sensus India) terbaru. Mereka selanjutnya menyarankan agar rincian klasifikasi beserta alamat pos cabang harus diajukan ke Otorita dalam bentuk yang tidak lazim selambat-lambatnya tanggal 28 Februari 2007. Sewaktu meminta persetujuan baru mengenai rincian tempat-tempat usaha yang diusulkan beserta klasifikasinya juga harus berperabot. (C. R. Muralidharan) Anggota PEMBATALAN LISENSI BROKER Sedangkan Ms. Sapthagiri Insurance Services Pvt. Ltd. (selanjutnya disebut Pialang) yang memiliki Kantor Terdaftar di D. No. 1-3-2, C19, Jalan Penugonda, Hindupur -515 201 telah mendapat izin dari Otorita untuk bertindak sebagai Pialang Asuransi Langsung, memberikan Lisensi No. 270 pada tanggal 22 Juli 2004 sesuai dengan ketentuan IRDA ( Pialang Asuransi) Peraturan, 2002 (selanjutnya disebut Peraturan). Sedangkan vide surat mereka tertanggal 03.01.2006, Pialang menyatakan keinginannya untuk menyerahkan lisensinya dan meminta kewenangan untuk mengizinkan mereka menyerahkan izin yang diberikan. Sedangkan Pialang juga telah melakukan untuk melayani klien yang ada yang kebijakannya berlaku untuk jangka waktu enam bulan seperti yang dipersyaratkan dalam Peraturan 40 dari Peraturan tersebut. Sedangkan broker vide suratnya tertanggal 08.11.2006 mengajukan lisensi asli No.270 untuk pembatalan. Oleh karena itu, berdasarkan permintaan yang diajukan oleh broker untuk menyerahkan diri secara sukarela dari lisensi perantara langsung, wewenang dengan ini membatalkan Lisensi Pialang Asuransi Langsung No. 270 yang diberikan kepada Ms. Sapthagiri Insurance Services Ltd Oleh karena itu, Pialang berhenti melakukan Bisnis Pialang Asuransi. Ini dikeluarkan dengan persetujuan Otoritas Kompeten sebelumnya. (Suresh Mathur) Direktur Bersama Re. Laporan Komite G K Raman tentang Broker dan broker terkait 225 perusahaan pialang telah beroperasi di pasar. Pialang telah berfungsi selama lebih dari 3 tahun sekarang dan Otorita menganggap perlu untuk membentuk Komite Pakar untuk meninjau Peraturan yang mengatur perizinan broker berdasarkan pengalaman IRDA dalam tiga tahun terakhir dan untuk membuat rekomendasi seperti yang dianggap Diperlukan untuk memperkuat peran calo, lebih khusus lagi dalam konteks de-tariffing asuransi non-jiwa yang diajukan oleh Otorita. Dengan demikian, Komite dibentuk dengan Shri G. K.Raman, Chairman, Royal Sundaram Alliance Insurance Company Ltd selaku Ketua Komite dengan anggota yang diambil dari industri ini. Komite telah menyampaikan Laporannya pada tanggal 14 November 2006. Laporan tersebut telah dimuat di situs IRDA di irdaindia. org. Otorita dengan senang hati akan menerima komentar dari Laporan Komite Raman. Anda diminta untuk mengirimkan pandangan Anda melalui e-mail: (mmsiddiquiirdaonline. org) atau melalui pos ke Otorita ke alamat berikut, MM Siddiqui, Petugas Khusus Konsultan, Otoritas Pengaturan dan Pengembangan Asuransi, Lantai 3, Basheer Bagh, Hyderbad - 500004 Otorita ingin menerima saran tersebut paling lambat tanggal 31 Januari 2007. - Sd - (CSRao) Ketua 6 Desember 2006. Surat Edaran IRDA No. 033 IRDA Brok-Comm DEC-06 6 Desember 2006 Re: Batasan pembayaran komisi atau broker pada bisnis asuransi umum Berdasarkan kewenangan yang diberikan di Otorita di bawah Bagian 14 dari Undang-Undang Otoritas Regulasi dan Pengembangan Asuransi, 1999 dan dalam hal ketentuan Bagian 40 (1), 40A (3) dan Bagian 42E Undang-Undang Asuransi, 1938, Otoritas dengan ini mengarahkan bahwa persentase premi yang dapat Dibayar dengan cara komisi atau perantara pada polis asuransi umum tidak boleh melebihi persentase premi yang disebutkan di bawah ini. Tidak ada broker yang dapat dibayar sehubungan dengan asuransi dimana komisi agensi dibayarkan dan juga, tidak ada komisi agen yang dapat dibayarkan sehubungan dengan asuransi dimana brokerage dibayarkan. Kelas bisnis Jumlah maksimum premi dibayarkan sebagai komisi agensi atau pialang 1. Api, asuransi teknik ii. Klien perusahaan (termasuk PSU) yang modal disetornya adalah: a) Upto Rs.15 crores b) Antara Rs.15 crs 25 crs c) Lebih dari Rs.25 crores iii. Resiko kualifikasi sebagai risiko besar di bawah para 19 (v) Pedoman Penggunaan File 2. Bisnis asuransi motor (selain pihak ketiga), WC EL dan Bisnis PL wajib 3. Asuransi Hull Laut 4. Bisnis Kargo Laut - Tidak ada komisi yang harus dibayar Asuransi pihak ketiga untuk tujuan bukti modal disetor salinan Neraca terakhir yang berada dalam domain publik sesuai dengan persyaratan Companies Act, 1956 harus dapat diterima. Dalam hal neraca yang 2 tahun sebelum tahun yang bersangkutan untuk menempatkan asuransi, sertifikat auditor harus dibuat. Jika perusahaan perseorangan dan perusahaan kemitraan, sertifikat dari Akuntan Chartered kepada klien harus dapat diterima. Sehubungan dengan cabang di India, sebuah referensi perusahaan asing harus diberikan pada modal disetor perusahaan di negara tempat perusahaan memasukkannya ke dalam Rupee India dengan kurs saat ini pada tanggal asuransi Tidak ada pembayaran dalam bentuk apapun , Termasuk biaya administrasi atau servis diperbolehkan dilakukan kepada agen atau broker sehubungan dengan bisnis sehubungan dengan dia dibayar komisi agensi atau brokerage. Arah ini menggantikan semua arahan yang ada pada subjek dan akan berlaku berkenaan dengan asuransi atau perpanjangan yang dimulai pada atau setelah tanggal 1 Januari 2007. (CS Rao) Ketua Peraturan tarif, syarat dan ketentuan bisnis asuransi umum kepada, Semua Penanggung Umum, The Komite Penasihat Tarif vide circular ref. TAC706 tanggal 4 Desember 2006 telah memutuskan bahwa tarif, syarat, ketentuan dan ketentuan yang berlaku untuk Kompensasi Kebakaran, Rekayasa, Motor, Workmens dan kelas usaha lainnya yang saat ini dikenakan tarif akan mulai berlaku efektif sejak tanggal 1 Januari 2007. Berdasarkan hal tersebut, Otorita berdasarkan Bagian 14 (2) (i) Undang-Undang tentang IRDA, 1999, dengan ini diberitahukan bahwa peraturan umum Tarif (selain yang berkaitan dengan pemeringkatan), persyaratan, ketentuan, klausul, garansi, kebijakan dan pengesahan yang berlaku untuk Kelas bisnis bisnis Hull dan asuransi yang disebutkan di atas harus terus diikuti sampai pesanan lebih lanjut. Tingkat premi dapat bervariasi sesuai dengan Pedoman Penggunaan dan Penggunaan Produk Asuransi Umum yang diberitahukan pada tanggal 28 September 06. Tingkat premi yang berlaku untuk bisnis asuransi Pihak Ketiga Motor adalah sebagaimana tercantum dalam Lampiran I. Penanggung disarankan Untuk memperhatikan kekhawatiran yang diungkapkan oleh pemilik kendaraan tentang tingkat suku bunga dan ketersediaan asuransi. Mengingat sifat wajib asuransi Pihak Ketiga Motor, perusahaan asuransi disarankan untuk memastikan bahwa asuransi Pihak Ketiga Motor tersedia di semua cabang penjaminan emisi mereka dan bahwa permintaan asuransi diproses dengan segera dan kebijakan dikeluarkan segera. Otorita akan memperlakukan setiap keluhan tentang tidak tersedianya asuransi atau penggunaan metode untuk menunda klien mencari asuransi, secara serius. Sehubungan dengan semua kelas bisnis dimana tarif yang berlaku sekarang dikendalikan oleh tarif, perusahaan asuransi tidak diizinkan untuk membatalkan polis asuransi saat ini dan mengeluarkan kebijakan baru yang mencakup properti atau kepentingan yang sama, untuk mengubah tingkat premi yang ditawarkan ke klien. Tertanggung bebas untuk membatalkan asuransinya kapanpun sesuai dengan kondisi kebijakan yang relevan, premi pada tingkat suku bunga jangka pendek yang berlaku akan dikenakan biaya untuk periode risiko. Penanggung disarankan untuk memastikan bahwa standar underwriting yang benar dijaga bahkan setelah tarif ditarik. (C. S. Rao) Arah Ketua di bawah Sec 34 Undang-undang Asuransi kepada, Semua Penanggung Umum, Sub. Asuransi Pihak Ketiga Motor Padahal beberapa keluhan telah diterima terkait tidak tersedianya asuransi pihak ketiga terutama untuk kendaraan komersial. Sedangkan perusahaan asuransi telah menyatakan kesulitan untuk menanggung bisnis ini kecuali jika mereka diizinkan untuk mengenakan tarif premium yang mereka anggap tepat. Sementara mempertimbangkan Sifat wajib dari bisnis asuransi pihak ketiga motor adalah penting bagi Otoritas untuk memantau tarif, syarat dan ketentuan penutupan untuk saat ini. Sedangkan untuk kepentingan umum memastikan semua perusahaan asuransi yang terdaftar untuk menjalankan bisnis asuransi umum termasuk asuransi kendaraan bermotor. Bisnis secara aktif berpartisipasi dalam memberikan perlindungan kepada pemilik kendaraan pada tingkat yang diberitahukan oleh Otorita dari waktu ke masa Sekarang oleh karena itu, Otorita, setelah berkonsultasi dengan Komite yang dibentuk berdasarkan Bagian 110G Undang-Undang Asuransi, dengan ini mengarahkan bahwa semua perusahaan asuransi umum yang terdaftar untuk membawa Pada bisnis asuransi umum (Termasuk bisnis asuransi kendaraan bermotor) atau bisnis reasuransi umum secara bersama-sama berpartisipasi dalam pengaturan Pooling untuk dibagikan ke dalam semua bisnis asuransi pihak ketiga yang ditanggung oleh salah satu perusahaan asuransi umum terdaftar sesuai dengan ketentuan sebagai berikut: 1. Partisipasi dalam pengaturan penyatuan: Setiap perusahaan asuransi Terdaftar untuk menjalankan bisnis asuransi umum (termasuk bisnis asuransi motor) atau bisnis reasuransi umum secara otomatis berpartisipasi dalam pengaturan penyatuan sejauh yang ditentukan di sini. 2. Perusahaan penjamin emisi: Setiap kantor penjamin emisi dari setiap perusahaan asuransi yang diberi wewenang untuk menanggung asuransi kendaraan bermotor untuk perusahaan asuransi juga diberi wewenang untuk menanggung asuransi kendaraan bermotor pihak ketiga yang akan dibagi di antara semua perusahaan asuransi melalui pengaturan penyatuan. 3. Mekanisme penyatuan: Penyatuan bisnis di antara semua perusahaan asuransi akan dicapai melalui pengaturan reasuransi multi-lateral antara perusahaan penjamin emisi dan semua perusahaan asuransi terdaftar lainnya yang menjalankan bisnis asuransi umum (termasuk asuransi kendaraan bermotor) dan reasuransi umum. 4. Partisipasi dalam bisnis asuransi pihak ketiga bermotor: Partisipasi dari General Insurance Corporation of India (GIC) dalam bisnis Pooled adalah persentase dari bisnis motor yang diserahkan kepadanya oleh semua perusahaan asuransi sebagai hak reasuransi hukum di bawah Sec 101A dari Undang-Undang Asuransi. 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. aku aku aku. 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 al ong 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.