Aadhaar-insurance policy linking: IRDAI extends date till 31 March, 2018

On 8 November, the IRDAI had directed the insurers to link Aadhaar and PAN card numbers with insurance policies.

Indo Asian News Service|Dec 19, 2017, 10:54:00 IST

Chennai: Insurance regulator on Monday extended the time to link Aadhaar number to insurance policies till 31 March, 2018.In a circular issued on Monday to all the life, non-life (including standalone health insurers) the Insurance Regulatory and Development Authority of India (Irdai) said the date of submission of the Aadhaar Number and Permanent Account Number or Form 60 by clients to reporting entity is 31 March, 2018.[caption id="attachment_213749" align="alignleft" width="380"] Reuters image[/caption]The Irdai cited the central government's gazette notification on December 13, relating to Prevention of Money-Laundering (Maintenance of Records) (Seventh Amendment) Rules, 2017.On 8 November, the Irdai had directed the insurers to link Aadhaar and PAN Card numbers with insurance policies."These rules have statutory force and, as such, life and general insurers (including standalone health insurers) have to implement them without awaiting further instructions," the Irdai had said in a statement.

Brent crude flirts with $100, reigniting inflation and forex concerns for India

Experts say a prolonged rally above $100 per barrel is unlikely, but sustained high oil prices could push up inflation, widen the current account deficit and pressure the rupee.

2 min read

Can a record May offset a shrunk international schedule and help IndiGo turn a profit?

Record domestic market share boosts operating performance, but forex losses, rising oil prices and geopolitical disruptions could weigh on IndiGo's bottom line.

3 min read

China has dominated Myanmar’s rare earth mines — now India eyes deal to harness country’s critical minerals

India is deepening rare earth cooperation with Myanmar as New Delhi seeks alternative sources of critical minerals dominated by China, including dysprosium and terbium used in EVs, defence systems and clean energy technologies

6 min read

JPMorgan to hire 1,000 technology professionals for India GCCs amid AI-led transformation

Wall Street banking giant to expand hiring across cloud, cybersecurity and AI data pipeline roles as it strengthens its India Global Capability Centres despite AI-driven workforce optimisation.

1 min read

BOJ seen raising interest rates by December as weak yen fuels inflation risks

Majority of economists expect Japan's central bank to deliver a 25-basis-point rate hike by year-end, with further policy tightening likely through 2027.