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Provision in new Insurance Bill sparks fears of board shake-ups

Economic Times

Economic Times · 1h ago

Provision in new Insurance Bill sparks fears of board shake-ups

The Insurance (Amendment) Bill introduces a provision that might disrupt insurance board compositions, possibly disqualifying directors due to conflicts of interest. Particularly affected could be bank-promoted insurance firms that share directors with banks and other financial subsidiaries. The bill aims to enhance governance and prevent conflicts, but its strict interpretation could force directors to resign, leading to significant changes in board structures. Industry experts call for clarifications to prevent confusion.

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Sebi's FPI Disclosure Rules: Large FPIs fully compliant, investors with concentrated holdings on shopping spree, say sources

Money Control

Money Control · 1y ago

Sebi's FPI Disclosure Rules: Large FPIs fully compliant, investors with concentrated holdings on shopping spree, say sources

Foreign portfolio investors (FPIs) in India with over Rs 25,000 crore in equity assets have either met or been exempted from additional disclosure requirements as per the Section 43B of FPI Regulations. This provision allows the Securities and Exchange Board of India (SEBI) to relax regulations in case of factors beyond the control of the entities or for procedural and technical reasons. Many FPIs have applied for exemptions before the September 9 deadline. Fears of heavy selling by FPIs to avoid non-compliance seem exaggerated, as some FPIs are increasing their exposure to the Indian market to comply with the disclosure framework.

No hurdle likely in Max Financial merger plan: Axis Max Life

Economic Times

Economic Times · 4m ago

No hurdle likely in Max Financial merger plan: Axis Max Life

Axis Max Life Insurance anticipates no regulatory issues with its merger plan with Max Financial Services, contingent upon the passing of a new insurance bill. The bill, which Parliament must approve, amends Section 35 of the Insurance Act to permit mergers between insurance and non-insurance companies with regulatory consent. The merger process, led by the National Company Law Tribunal, is expected to take 8 to 12 months, according to Axis Max Life's CEO, Prashant Tripathy.

House clears bill on 100% FDI in insurance

Economic Times

Economic Times · 5d ago

House clears bill on 100% FDI in insurance

The Indian Parliament has cleared the Sabka Bima Sabki Raksha Bill, 2025, allowing 100% foreign direct investment in the insurance sector. Finance Minister Nirmala Sitharaman highlighted that this move will attract new insurers, intermediaries, and service providers, spurring job creation, skill development, and formal employment. The bill, having passed both the Rajya Sabha and Lok Sabha, is expected to expand the insurance ecosystem, with the Insurance Regulatory and Development Authority of India safeguarding policyholders' interests.

New I-T Bill restores exemption for anonymous donations to trusts, TDS refund claim filing procedure

Economic Times

Economic Times · 4m ago

New I-T Bill restores exemption for anonymous donations to trusts, TDS refund claim filing procedure

The new Income Tax Bill, passed by Lok Sabha, retains existing ITR filing provisions for TDS claims and tax exemptions for anonymous donations to religious-cum-charitable trusts. It includes a provision for professionals with receipts over Rs 50 crore to use electronic payment modes and reduces the TDS correction statement filing period. The bill realigns taxation of anonymous donations with the 1961 Act and provides more flexibility for TDS refund claims without mandatory ITR filing.

Changes in tax on lumpsum and premature withdrawals under UPS and NPS in the latest version of Income Tax Bill - The Economic Times

Economic Times

Economic Times · 4m ago

Changes in tax on lumpsum and premature withdrawals under UPS and NPS in the latest version of Income Tax Bill - The Economic Times

Finance Minister Nirmala Sitharaman introduced the Taxation Law (Amendment) Bill, 2025, to align tax treatment between the Unified Pension Scheme (UPS) and National Pension System (NPS). The bill proposes tax exemptions for UPS payments up to 60% of the corpus on retirement. However, UPS funds withdrawn before retirement will be taxable. Transferring funds to a pool corpus for annuity purposes at retirement will not be treated as income, ensuring parity in tax treatment between the schemes.

Insurance Amendment Bill seeks to accelerate growth of sector, improve regulatory oversight: Nirmala Sitharaman

Economic Times

Economic Times · 6d ago

Insurance Amendment Bill seeks to accelerate growth of sector, improve regulatory oversight: Nirmala Sitharaman

The Lok Sabha discussed the Insurance Amendment Bill, aimed at enhancing the growth and regulatory oversight of the insurance sector. Finance Minister Nirmala Sitharaman emphasized improving regulatory robustness and ease of compliance. The bill also aims to protect policyholders and simplify business operations for insurance companies. Recent government initiatives, such as various insurance schemes, aim to cover economically weaker sections, and the Bill supports public sector insurance to meet citizen needs effectively.

Parliament passes bill to raise FDI to 100% in insurance sector

Economic Times

Economic Times · 5d ago

Parliament passes bill to raise FDI to 100% in insurance sector

The Rajya Sabha has passed a bill to increase foreign direct investment (FDI) in India's insurance sector to 100%, aiming to enhance insurance coverage and attract global capital. The Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, amends multiple acts to facilitate this change. It also allows merging non-insurance companies with insurance firms and establishes the Policyholders' Education and Protection Fund. These reforms aim to accelerate sector growth and improve policyholder protection.

Bill to hike FDI in insurance sector to 100 per cent likely to be tabled in Winter session of Parliament

Economic Times

Economic Times · 1m ago

Bill to hike FDI in insurance sector to 100 per cent likely to be tabled in Winter session of Parliament

The Indian government plans to introduce a bill in the Winter session of Parliament to increase foreign direct investment (FDI) in the insurance sector to 100%. The Insurance Laws (Amendment) Bill 2025, among other legislations, aims to improve insurance penetration, growth, and ease of doing business. Proposed amendments include changes to the Insurance Act, 1938, and related laws, focusing on policyholder interests, financial security, and boosting market competitiveness to support economic growth.

11 leadership changes in 15 months: TechM CEO’s dream team remains elusive

Livemint

Livemint · 5m ago

11 leadership changes in 15 months: TechM CEO’s dream team remains elusive

Tech Mahindra is experiencing significant leadership shake-ups under CEO Mohit Joshi, who assumed his role 18 months ago. Seeking to form a stable leadership team, Joshi has made 11 leadership changes within 15 months and implemented several reassignments among leaders. Despite these efforts, consistent stability in Tech Mahindra’s leadership remains elusive, signaling ongoing challenges in aligning leadership roles effectively.

Draft Digital Competition Bill: government may hold new round of discussions with stakeholders

Economic Times

Economic Times · 1y ago

Draft Digital Competition Bill: government may hold new round of discussions with stakeholders

The government is expected to hold further consultations on the draft of the Digital Competition Bill, focusing on the ex-ante provision and the definition of systemically significant digital enterprises. Stakeholder feedback and suggestions from various ministries will be considered before the final draft is released.

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