In order to further strengthen the rating process of the CRAs with regard to ‘Issuer not cooperating’ (INC) ratings, following directions are being issued: a. If an issuer has all the outstanding ratings as non-cooperative for more than 6 months, then the CRA shall downgrade the rating assigned to the instrument of such issuer to non-investment grade with INC status. If non-cooperation by the issuer continues for further six months from the date of downgrade to non-investment grade, no CRA shall assign any new ratings to such issuer until the issuer resumes cooperation or the rating is withdrawn.
SEBI amends provisions of guidelines pertaining to Core Settlement Guarantee Fund and Default Waterfall for Clearing Corporations- It amends clauses related to Further Contribution to/ Recoupment of Core SGF and Capped additional contribution by non-defaulting members of the segment. Circular No. SEBI/HO/MRD2/DCAP/CIR/P/2020/01 Dated: January 03, 2020 Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD2/DCAP/CIR/P/2020/01 January […]
Authority has notified IRDAI (Insurance Intermediaries) (Amendment) Regulations, 2019 for allowing 100% Foreign Direct Investment in insurance intermediaries. One of the conditions specified in the said regulation is that the insurance intermediary that has majority shareholding of foreign investors shall take prior permission of the Authority for repatriating dividend.
The health insurance market is having a number of individual health insurance products. Each product has unique features and the insuring public may find it a challenge to choose an appropriate product. Therefore, with the following objectives, the Authority has decided to mandate all general and health insurers to offer the standard individual health insurance product:
It is hereby informed that the time limit for filing e-form No.BEN-2 is extended upto 31.03.2020 without payment of additional fee and thereafter fee and additional fee shall be payable.
Every individual policyholder (including members under family floater policy) covered under an indemnity based individual health insurance policy shall be provided an option of migration at the explicit option exercised by the policyholder;
Migration means, the right accorded to health insurance policyholders (including all members under family cover and members of group health insurance policy), to transfer the credit gained for pre-existing conditions and time bound exclusions, with the same insurer.
As provided in paragraph 3(i) of the above directions, the Reserve Bank hereby notifies the following benchmarks administered by Financial Benchmarks India Pvt. Ltd. (FBIL) as a ‘significant benchmark’:
Reserve Bank of India RBI/2019-20/130 DoS.CO/CSITE/BC.4084/31.01.015/2019-20 December 31, 2019 To The Chairman / Managing Director / Chief Executive Officer All Scheduled Commercial Banks (excluding Regional Rural Banks) All Small Finance Banks and Payments Banks All Primary (Urban) Co-operative Banks All Local Area Banks and White-Label ATM Operators Madam/Dear Sir, Cyber Security controls for Third party […]
Relaxation on the guidelines to NBFCs on securitisation transactions and the circular DNBR (PD)CC.No.100/03.10.001/2018-19 dated May 29, 2019 extending the dispensation till June 30, 2020.
