On June 12, IRDAI dismissed life insurers’ concerns regarding higher premature exit payouts, retaining most provisions related to increased special surrender value (SSV) for endowment policies proposed last month. It mandated life insurance companies to offer surrender value (SV) from the first year, a change from previous norms that allowed […]
HDFC Life
Piramal Enterprises: The company announced its decision to merge with its unlisted subsidiary Piramal Capital & Housing Finance, thus avoiding a mandatory public share sale by the unlisted arm. The merger is expected to be completed in nine to 12 months. Bank of Baroda: The RBI lifted restrictions on Bank […]