Act 2005 status not recorded
Insurance Act 2005
Issued by Financial Services Commission
Plain-English summary
Act 21 of 2005, in force since 28 September 2007, establishing the framework for regulating and supervising insurance business. The FSC administers it: licensing (ss. 10-11), solvency (s. 15) and the filing of accounts (s. 51). The linked FSC text is an unofficial consolidation as at 29 January 2016; the Government Gazette is authoritative.
Who it applies to
Insurance
Topics
Prudential & Capital Insurance & Pensions
Latest news
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RBI extends supervisory directions for Industrial Co-operative Bank Ltd.
3 Oct 2026
The Reserve Bank of India has extended supervisory directions issued to The Industrial Co-operative Bank Ltd., Guwahati under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The original directive…
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RBI finalizes Basel III market risk capital requirements for banks
26 Sep 2026
The Reserve Bank of India has issued final Directions on minimum capital requirements for market risk under the revised Basel III framework, effective April 1, 2027. The framework adopts the Simplified Standardised…
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RBI penalizes gold-loan fintech KLM Axiva Finvest Limited for auction surplus non-payment
26 Sep 2026
The Reserve Bank of India imposed a monetary penalty of ₹2.70 lakh on KLM Axiva Finvest Limited for regulatory non-compliance discovered during statutory inspection. The company failed to remit surplus amounts to…