Irdai to amend regulatory sandbox norms after committee recommendation

Quick Summary:

Regulator Irdai has proposed to amend the norms related to 'regulatory sandbox' by incorporating principle-based approach and further facilitate adoption of innovative ideas and new concepts across the insurance value chain.

Based on the recommendations of the committee, it has proposed amendments to the regulatory sandbox regulations and seeks comments from the public at large on the proposed amendments.

Insurance Regulatory and Development Authority of India (Irdai) had constituted an internal committee to review the Irdai (Regulatory Sandbox) Regulations.

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Category: BusinessFinance

Markets: India

Topics: Irdai Insurance sector Principle based approach Regulatory sandbox norms

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 19:22:08 (2 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 232 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23461571

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