General insurers urge IRDAI for mandatory KYC of customers 
At present, sharing KCY details is voluntary while purchasing a general insurance product. Non-life insurers have requested the insurance regulator IRDAI to permit verifying the contact details of policyholders. This…
Provisioning for Standard assets by Non-Banking Financial Company – Upper Layer
June 6, 2022 All Non-Banking Financial Companies(Including Housing Finance Companies) Madam / Dear Sir, Please refer to the circular DOR.CRE.REC.No.60/03.10.001/2021-22 dated October 22, 2021 on “Scale Based Regulation (SBR): A…
Surrender of certificate of registration of Principal Mutual Fund (PMF)
Principal Asset Management Private Limited (Principal AMC) had informed SEBI that they want to surrender the registration granted to Principal Mutual Fund by SEBI. PMF will continue to be liable…
Extension of facility for conducting annual meeting and other meetings of unitholders of REITs and InvITs through Video Conferencing (VC) or through Other Audio-Visual means (OAVM)
June 03, 2022 To,All Real Estate Investment Trusts (“REITs”)All Infrastructure Investment Trusts (“InvITs”)All Parties to REITs and InvITsAll Recognized Stock Exchanges Madam/ Sir, 1. SEBI vide circular no. SEBI/HO/DDHS/DDHS/CIR/P/2020/102 dated…
Public Disclosures by FRBs/Lloyd’s India
Date: 03-06-2022 ToCEOs of all FRBs (including Lloyd’s India) 1. The Authority has received representations on the rationalization of compliance requirements on Public Disclosures of Foreign Reinsurance Branches (FRBs) and…
Investor Grievance Redressal Mechanism
June 3, 2022 ToThe Managing Director / Executive DirectorAll Stock Exchanges Dear Sir / Madam, In order to further strengthen the Investor Grievance Redressal Mechanism, based on feedback received from…
Procedure for seeking prior approval for change in control of Portfolio Managers
June 02, 2022 To,All Portfolio ManagersSir / Madam, Regulation 11(aa) of SEBI (Portfolio Managers) Regulations, 2020 provides that a Portfolio Manager shall obtain prior approval of SEBI in case of…
RBI announces results of its First Global Hackathon – HARBINGER 2021
June 02, 2022 The Reserve Bank had launched its first global hackathon – “HARBINGER 2021 – Innovation for Transformation” with the theme ‘Smarter Digital Payments’ which was communicated vide Press…
Clarification regarding Form No 10AC issued till the date of this Circular
Dated: 3rd June, 2022 Finance Act, 2022 has inserted sub-section (4) in section 12AB of the Income-tax Act, 1961 (the Act) allowing the Principal Commissioner or Commissioner of Income-tax to…
Product Filing procedure
1. Currently, the filings of General Insurance Products are governed by the Guidelines on ‘Product Filing Procedures for General Insurance products issued vide ref: no. IRDAI/NL/GDL/F&U/030/02/2016 dated 18th February, 2016.’.…