SUBSCRIBE NEWSLETTER
  • Change Language
  • English
  • Hindi
  • Marathi
  • Gujarati
  • Punjabi
  • Tamil
  • Telugu
  • Bengali
  • News From Press Insurance regulator IRDAI floats draft norms for providing loans to employees

    Insurance regulator IRDAI floats draft norms for providing loans to employees

    Source: DNA Money Feb 4, 2016

    Insurance regulator IRDAI on Wednesday floated draft norms on providing loans or temporary advances to full-time employees of the insurers.

    "In view of the above, it has necessitated to frame regulations on loans and temporary advances to the full time employees of the insurers...No loans or temporary advances to non whole-time Director or to their relatives except as provided under Section 29 (1) of the Insurance Act, 1938," the draft said.

    Insurance and Regulatory Development Authority of India said employees may be granted loans or temporary advances for loan for purchasing of car, loan for purchasing of personal computer, loan for purchasing of furniture.

    Besides, loan for constructing or acquiring a house for personal use and advance for festival can be given by insurance company.

    Any other purpose as may be specified by the Authority, it added.

    Click here to read more>>

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

    Click to clap
    Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.
    0 Comment
    Be the first to comment.
    Login or Sign up to post comments.
    More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

    Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.