The Latest Breaking News from Ajay Seth

Insurance mis-selling is arising because upfront commissions are too high: Ajay Seth, Chairman, IRDAI

The benefit of cost efficiency should be passed on to customers. This entire exercise is intended to ensure that the public and policyholders benefit. For a life insurance savings product, the outcome should be better returns. In general insurance, it should result in better claim ratios. Cost efficiencies should get…

The Economic Times · Sep 27

IRDAI’s insurance reforms: Why fixing commissions matters more than tracking sellers

Some carmakers sell vehicles without a spare wheel, offering just a puncture repair kit instead. Nobody proposes a register of the salesmen who sold these cars because we know the choice was made above their level. The agent sitting across from an insurance buyer is in the same position, as…

The Economic Times · Aug 3

Two general insurance licences approved since 100% FDI move by govt: Irdai chairman Ajay Seth

India's insurance regulator has greenlit two proposals for 100% foreign ownership in general insurance firms, following the government's FDI liberalization. The much-anticipated BIMA Sugam platform, aiming for zero-commission policies, is slated for launch by September's end. Additionally, the Irdai is preparing distribution reforms to combat misselling and has established a…

The Economic Times · Jun 30

Bill for NFIR almost ready; likely to be introduced in next session: DEA Secretary

Ajay Seth has said that a draft Bill for setting up a National Financial Information Registry (NFIR) is almost ready

The Hindu · Feb 4, 2024

New Delhi declaration ‘almost ready’, says India’s G-20 Sherpa, as Ukraine para remains sticking point

G-20 Sherpa Kant says joint declaration "almost ready"; India able to bring all countries on board with its priorities. Negotiations on finance, climate action, phasing out fossil fuels, and debt restructuring have seen considerable movement. Leaders to discuss declaration and other issues on September 9 and 10; if no agreement,…

The Hindu · Sep 8, 2023

No G20 joint statement as China refuses to condemn Russia's war in Ukraine

G20 finance ministers on Saturday failed to adopt a joint closing statement at talks in India, after China sought to soften references to Russia and the war in Ukraine.

Radio France Internationale · Feb 26, 2023

G-20 finance chiefs to tackle global economic threats

Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru to tackle challenges to global growth and stability

The Independent UK · Feb 22, 2023

India has fairly large forex reserve to deal with current situation: Economic affairs secretary

NEW DELHI: Economic affairs secretary Ajay Seth on Tuesday dismissed the concerns over depletion of forex reserve as "overblown" and said India has fairly large reserve to tide over the current situation.

The Times of India · Sep 27, 2022

India has fairly large forex reserve to deal with current situation: Economic Affairs Secretary

Foreign exchange reserves were down for a seventh continuous week, dropping to $545.65 billion on September 16.

The Hindu · Sep 27, 2022

Economy likely to grow at 7-7.4% in FY23, says finance secretary

NEW DELHI: The government is expecting the economy to grow at 7-7.5 per cent in 2022-23, in line with its projections made at the beginning of this financial year.

The Times of India · Aug 31, 2022