- "Key Managerial Persons" (KMPs) means as defined in the IRDAI (Registration of Indian Insurance Companies) Regulations, 2022. iii. "Share linked instruments" means (i) employee stock option schemes; (ii) employee stock purchase schemes; and (iii) stock appreciation rights schemes, for the purpose of these guidelines.
What are the KYC norms for Irdai?
Know Your Customer (KYC) Norms
10.1. 2 Effective procedures should be put in place to obtain requisite details for proper identification of new/ existing customer(s).
Special care has to be exercised to ensure that the contracts are not under anonymous or fictitious names..
What are the laws governing insurance companies in India?
The primary legislation regulating the Indian insurance sector comprises the Insurance Act 1938 (Insurance Act) and the Insurance Regulatory and Development Authority Act 1999 (IRDA Act)..
What are the sources of corporate governance rules in India?
The principal sources of governance are the Companies Act, Rules published under the Companies Act, and Notifications and Circulars issued by the Ministry of Corporate Affairs (MCA).
Limited liability partnerships (LLPs) are governed by the Limited Liability Partnership Act, 2008..
What is the corporate governance policy in India?
The Indian corporate governance framework focuses on: protection of minority shareholders; accountability of the board of directors and management of the company; timely reporting and adequate disclosures to shareholders; and..
What is the governance of insurance in India?
Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India..
What is the regulatory framework for corporate governance in India?
The organizational framework for corporate governance initiatives in India consists of the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI).
SEBI monitors and regulates corporate governance of listed companies in India through Clause 49..
What is the role of corporate governance in India?
Corporate governance provides proper encouragement to the owners as well as managers to achieve objectives that are in the interest of stakeholders and the organization by.
It also minimizes wastages, corruption, risks and mismanagement..
- Every Listed Company need to prepare Corporate Governance Report as a annexure to Board Report, In accordance with Regulation 34(3) and 36 read with schedule V of The Securities and Exchange Board of India (SEBI) listing regulation disclosures shall be made in the section on the corporate governance of the annual
- Insurance Regulatory and Development Authority of India (IRDAI), is a statutory body formed under an Act of Parliament, i.e., Insurance Regulatory and Development Authority Act, 1999 (IRDAI Act 1999) for overall supervision and development of the Insurance sector in India.
