Insurance Bill likely to be passed by the Parliament - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  
  • Home
  • Outlook Arena
  • Dec 2, 1999 - Insurance Bill likely to be passed by the Parliament

Insurance Bill likely to be passed by the Parliament

Dec 2, 1999

The chances of the Insurance Regulatory and Development Authority (IRDA) Bill being passed in the current session of the Parliament dramatically improved today with the Congress, the largest opposition party, proposing just four amendments to the bill. The bill has to be passed before the change of the century according to commitments given to the World Trade Organisation (WTO). The four proposed amendments include:

  • The private insurers must give priority to health insurance
  • A manner in which the funds of the insurance companies are to be invested in the infrastructure sector must be specified
  • Failure to comply with the rules should invite a fine of Rs 2.5 m. In case of persistent failures, the licence must be terminated
  • The social sector obligations that the public sector insurers have to undertake must also be extended to the private sector insurers.

The amendments are minor in nature and will probably be accepted by the government to prevent further jeopardising the fate of the bill. The passage of the IRDA Bill will finally set into motion the process of the setting up of private insurance companies in India.

A well-developed insurance industry, apart from improving social standards, will go a long way in supporting the growth of infrastructure in the country. This is so because insurance companies have access to long term funds that are ideal for financing long gestation infrastructure projects.

Equitymaster requests your view! Post a comment on "Insurance Bill likely to be passed by the Parliament". Click here!

  

More Views on News

Ride the Indian Real Estate Revival with this 'Different' Smallcap Stock (Profit Hunter)

Mar 23, 2021

Affordability in the housing segment has never been so good in last one and a half decade. Here's how you could make the most of it...

My Latest Stock Recommendation (Fast Profits Daily)

Oct 9, 2020

How I picked an exciting stock using trends from both the commodity and equity markets.

Data is the New Oil but It's Also the New Sugar. Here's How to Fight it (Profit Hunter)

Jun 1, 2020

Is too much data hurting your quest for market beating returns?

Quantum Mutual Fund: Hum woh nahi hain (The Honest Truth)

Apr 29, 2020

Ajit Dayal on how the mutual fund industry robs you of your wealth.

This One Trigger Could Turnaround Yes Bank's Stock Price (The 5 Minute Wrapup)

Oct 16, 2019

If Yes Bank manages to do this, it could be the start of a much-needed turnaround for the bank.

More Views on News

Most Popular

India: Recovery Stalled by Vaccine Games? (The Honest Truth)

Apr 13, 2021

Ajit Dayal on how India's vaccine strategy will impact the markets.

4 Stocks to Make Your Portfolio Immune to the Second Covid Wave (Profit Hunter)

Apr 6, 2021

Rather than predicting the market, successful investing is more about preparing well and placing your bets accordingly.

An India Revival Stock I'm Bullish On... (Profit Hunter)

Apr 9, 2021

This could take India to the position of 3rd largest economy.

Why Did the Market Crash on Monday? (Fast Profits Daily)

Apr 13, 2021

In this video, I'll you what I think is the real reason behind yesterday's market crash.

Why the Market Fell Yesterday (Fast Profits Daily)

Apr 6, 2021

In this video, I'll tell you the two reasons why the market fell on Monday and how you can prepare yourself for such events in the future.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

MARKET STATS