NEW DELHI –
With Rakesh Joshi’s term ending earlier in November, the important position of member finance became available, and the Insurance Regulatory and Development Authority of India (IRDAI) is getting ready to interview candidates for it. PC Kandpal from State Bank of India (NS:) and Rajay Kumar Sinha from SBI Capital Markets Limited (SBICAPS) are two of the leading candidates for this important position.
for latest update follow us on https://twitter.com/arthvarta
A panel comprising prominent individuals like Debashish Panda and Vivek Joshi will conduct the interviews, which are slated to take place in the third week of December. Assessing prospective candidates who will be essential in managing the financial facets of India’s insurance industry falls within the purview of this panel.
The maximum age limit for full-time members of the IRDAI, which has ten members in total who work both full- and part-time jobs, is 62 years old. As of September 2023, private insurers held a 53.58% market share in the industry that the regulatory body was keeping an eye on. Health insurance is the largest non-life segment in this industry, and it is closely followed by crop and vehicle insurance.
The year-to-date growth rate has slightly decreased in comparison to the prior year, even though private insurers still hold a sizable portion of the market. With a clear mandate to address these issues and guide the industry toward long-term growth, the new member finance will be entering a dynamic environment.
Find IFSC code : https://arthvarta.com/ifsc-code-find-m…ll-bank-branches/