Insurance commission: IRDAI extends time for feedback to October 31

What happened: IRDAI extended the deadline for feedback on its insurance commission proposals to October 31. The regulator says it is still engaging with stakeholder groups and has not reached a conclusion. Key numbers: Feedback deadline extended to October 31. Why it matters: IRDAI chairman Ajay Seth said the aim is a more efficient regime without disrupting existing businesses or livelihoods. Stakeholders have sought a longer transition period, and concerns were raised about low-ticket policies.

IRDAI extended the deadline for feedback on its insurance commission proposals to October 31. The regulator says it is still engaging with stakeholder groups and has not reached a conclusion.

IRDAI chairman Ajay Seth said the aim is a more efficient regime without disrupting existing businesses or livelihoods. Stakeholders have sought a longer transition period, and concerns were raised about low-ticket policies.