new regulation by IRDA Minimum capital by insurance company

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Accepted Answer

IRDA has introduced new regulation regarding minimum capital requirement for insurance companies.

IRDA has increased the minimum capital requirement for insurance companies from Rs. 100 crore to Rs. 250 crore.
This regulation is aimed at ensuring the financial stability of insurance companies and protecting the interests of policyholders.
Insurance companies have been given a deadline of 31st March 2021 to comply with the new regulation.
The increased capital requirement is expected to lead to consolidation in the insurance industry, with smaller players merging with larger ones to meet the new requirement.

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