Launching a New Era in Health Insurance Regulation The Union finance ministry is spearheading an innovative venture to create a dedicated health insurance regulator, signaling a transformative shift in healthcare accessibility and affordability in India. This new development, poised to take the regulatory stage after the next government assumes office, underscores the ministry’s proactive stance in revolutionizing health insurance coverage for every Indian citizen. Early Actions and Collaborations Initiation of Consultations: The finance ministry has […]

Filing Income Tax Returns: A Comprehensive Guide for FY24 Mandatory Filing of Returns In the new fiscal year 2024 (FY24), individuals in India need to carefully assess whether they meet the criteria for mandatory filing of income tax returns (ITR). Understanding the requirements can help avoid penalties and ensure compliance with tax regulations. It’s essential to consider the following factors: Total Income Considerations For FY24, the basic exemption limits are as follows: ₹2.5 lakh under […]

Insurers to Reveal Insurance Claims and Corporate Governance: IRDAI Circular Introduction The Insurance Regulatory and Development Authority of India (IRDAI) has released a master circular on corporate governance for insurers, bringing forth a series of disclosure requirements for insurance companies. This circular aims to enhance transparency and accountability in the insurance sector. Let’s explore the key provisions and their implications in more detail. Disclosure Requirements for Insurance Companies The circular mandates insurers to disclose the […]

Banks Seek Waiver for MSME Loans In light of the recent developments in the banking sector, banks are contemplating reaching out to the Reserve Bank of India (RBI) and the finance ministry to request an exemption for loans extended to micro, small, and medium enterprises (MSMEs) from the proposed provisioning regulations for infrastructure project financing. The goal is to safeguard the interests of MSMEs, recognizing their significant presence in the infrastructure landscape. As the government […]

Understanding ESG Ratings and Their Importance to Investors In the last few weeks, about half a dozen entities have received approval from the Securities and Exchange Board of India (Sebi) to provide Environmental, Social, and Governance (ESG) ratings. These certifications include units of Credit Rating Agency (CRA) ICRA, CRISIL, and Care Edge, as well as proxy advisory firms, Stakeholders Empowerment Services (SES), and Institutional Investor Advisory Services (Ilias). Several firms, including units of MSCI and […]