2023 2024 EduVark > Education Discussion > General Discussion


  #1  
May 10th, 2016, 10:21 AM
Unregistered
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Irda rbi

Sir I am an MBA Finanace student and want to know that what are the functions of the Reserve Bank of India RBI and the Insurance Regulatory and Development Authority (IRDA) so can you please tell 3m the same
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  #2  
May 10th, 2016, 10:22 AM
Super Moderator
 
Join Date: Mar 2012
Re: Irda rbi

Hey buddy

The Insurance Regulatory and Development Authority (IRDA)15 is the statutory body for the regulation and development of insurance industry in India.

The IRDA regulates life insurance companies, general insurance companies and reinsurance companies.

IRDA also regulates intermediaries such as agents, corporate agents, brokers, third party administrators, surveyors and loss assessors and web aggregators.

RBI

The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.

The Central Office is where the Governor sits and where policies are formulated.

Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India.

Financial regulatory bodies in India:


PFRDA under the Finance Ministry

Forward Market Commission India (FMC)

Insurance Regulatory and Development Authority

Securities and Exchange Board of India

Reserve Bank of India

If you want more details then feel to contact again


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