Insurance commission: IRDAI extends time for feedback to October 31

Core Development: Insurance commission: IRDAI extends time for feedback to October 31

Market & Financial Impact: The regulator is engaging with different stakeholder groups and has not reached a conclusion on the proposals, IRDAI chairman Ajay Seth had said recently. The objective is to move towards a more efficient regime without disrupting existing businesses or livelihoods. Some stakeholders have sought a longer transition period, while others have raised concerns about low-ticket policies, Seth had said. Larger insurers, smaller companies and new entrants have different concerns, as do various categories of insurance distributors.

Actionable Insight: Monitor price volume action at market open; check key technical support/resistance levels.