Comments
The Insurance Regulatory and Development Authority of India (IRDA) has done away with the current practice of according a case to case basis approval for investments in Infrastructure Development Fund (IDF) by the insurers.
This will give insurers a free hand to insurers in investing in IDF which is of course subjected to a general set of norms.
“To encourage further investments by insurers in the infrastructure sector and to enhance ease of doing business, the requirement of case to case approval for an investment in IDF is done away with,’‘ the regulator said in a circular on Friday.
The conditions include registration of IDF-NBFC with RBI, a residual tenure of not less than five years for debt securities and minimum credit rating of `AA’ or its equivalent by a Credit Rating Agency registered with SEBI to be eligible for approved investments.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.