摘要:本文系统的描述了印度各个商业银行的发展历史,十分具有参考价值,各商业银行的作用不限于普通银行业务,也包括:发行纸币,可以通过电汇,电子转帐处理,互联网银行或者其他手段支付。
s arising not just from politics, but risks in thecourse of international transactions. In this connection, it may be noted that exportcredit insurance has evolved out of uncertainties relating to international trade,particularly due to problems arising out of foreign legal jurisdiction, political changesand currency exchange difficulties faced by many developing countries.
Prohibition for Investment
Manner and conditions For investment
Insurance business in rural / social sector
All insurers are required to undertake such percentage of their insurance business, including insurance for crops, in the rural social sector as specified by the IRDA. They should discharge their obligations to providing life insurance policies to persons residing in the rural sector, workers in the unorganized sector or to economically vulnerable classes of society and other categories of persons as specified by the IRDA.
4.Capital requirement: -
The paid up equity of an insurance company applying for registration to carry on life insurance business should be Rs 100 Crores.
5.Renewal of registration: -
An insurer, who has been granted a certificate of registration, should have the registration renewed annually with each year ending on March 31 after the commencement of the IRDA Act. The application for renewal should be accompanied by a fee as determined by IRDA regulations, not exceeding one forth of one percent of the total gross premium income in India in the preceding year or Rs 5 Crores or whichever is less, but not less than Rs 50000 for each class of business as per Section 3A.
6.Requirements as to Capital
The minimum paid up equity capital, excluding required deposits with the RBI and any preliminary expenses in the formation of the country, requirement of an insurer would be Rs 100 crore to carry on life insurance business and Rs 200 crore to
exclusively do reinsurance business as per Section
7.Investment of funds outside India
Insurers outside India as per Section 27-C cannot invest the funds of policyholders.
8.Insurance business in Rural Sector
After the commencement of the IRDA Act, 1999, every insurer would have to undertake such percentage of life insurance business in the rural sector as may be specified by the IRDA in this behalf. It is mandatory for the new companies to meet the obligations relating to the rural and unorganized sector as per section 32B.
9. Role of the government: -
Since 1956 insurance sector was highly regulated by government of India. On March 16, 1999, the Indian cabinet approved on Insurance Regulatory Authority Bills that was designed to liberalize the insurance sector.
10.BODIES THAT REGULATE THE SECTOR:
For better regulation purpose of the insurance sector the government has established following bodies;
IRA: Insurance Regulatory Authority.
IRDA: Insurance Regulatory and Development Authority.
TAC: Tariff Advisory Committee.
IRA: Insurance Regulatory Authority:
11. TAX POLICY AND INSURANCE SECTOR:
Another factor, which affects the insurance sector, is the tax policy. The tax reforms in India are such that it encourages the citizens to invest in the i
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