Insurance In India: GK, Current Affairs, Questions, Trivia and News

Over 14 lakh join Pradhan Mantri Kisan Maan Dhan Yojana

The government had launched the Pradhan Mantri Kisan Maan Dhan Yojana to provide social security through pensions for small and marginal farmers. How did the enrolment go? The scheme was rolled out in the month of August and in a month about over 14 lakh farmers have registered under the scheme. Analysis of initial data ..

Uttar Pradesh becomes No. 1 in implementation of Pradhan Mantri Suraksha Bima Yojana

Uttar Pradesh has become number one in implementation of Pradhan Mantri Suraksha Bima Yojana (PMSBY) in the country. As per the statement released by state government, 1.95 crores people have been given insurance cover under the scheme till 31 march 2019. The implementation of this ambitious central government scheme started in state from January 2018 ..

Suresh Mathur head of IRDA committee to review microinsurance framework

The Insurance Regulatory and Development Authority of India (IRDAI) has recently constituted a 13-member Committee to review the regulatory framework on microinsurance and recommend measures to increase the demand for such products. . The committee, under the chairmanship of IRDAI Executive Director Suresh Mathur, has been tasked with suggesting product designs with customer-friendly underwriting, including ..

RBI permits Reinsurance brokers to open Foreign Currency accounts

RBI has permitted Reinsurance brokers to open non interest bearing foreign currency accounts with banks for undertaking transactions. Earlier, the Insurance Regulatory and Development Authority of India (IRDAI) had issued notification and then RBI issued Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) Regulations, 2015 – Opening of Foreign Currency Accounts by ..

M R Kumar appointed as new Chairman of Life Insurance Corporation of India (LIC)

M R Kumar has been appointed the new Chairman of Life Insurance Corporation of India (LIC) and will hold the post for a period of five years. Prior to this post, he was Zonal Manager (in-charge) of North Zone. LIC is the largest insurance company in India headquartered in Mumbai. It was founded in 1956 ..

Ministry of Housing & Urban Affairs launches Shehri Samridhi Utsav

On 5th February, the Ministry of Housing & Urban Affairs (MoHUA) has launched Shehri Samridhi Utsav to extend the outreach of DAY-NULM (Deendayal Antyodaya Mission – National Urban Livelihoods Mission) to the most vulnerable. The event will also showcase its initiatives and facilitate access of Self-Help Group (SHG) members to the other government schemes. Through ..

West Bengal government launches Krishak Bandhu scheme to address farmers distress

The West Bengal government has launched Krishak Bandhu scheme to provide financial assistance to farmers and landless labourers. The state government will give an annual financial assistance (cash dole) of Rs 5,000 per acre in two instalments – one during kharif and another during rabi – for a single crop. Farmers can take the financial ..

Suresh Mathur head of IRDA panel to study feasibility of paying claims in installments

The Insurance Regulatory and Development Authority of India (IRDAI) has formed a panel to examine the feasibility of payment of general and health insurance claims in instalments. It will be headed by Suresh Mathur, ED (Health) in IRDAI. The panel will look into the need for allowing settlement of personal accident and benefit-based health insurance ..