Insurers get two years to treat IDFC investment as BFSI exposure

170

IDFCThe Insurance Regulatory & Development Authority (Irda) has directed insurance companies to treat their investments in IDFC’s fixed-income securities as exposure to the banking sector, instead of their “infrastructure” status, two years after the infrastructure lender turns into a bank.

Most insurance companies have a 25% cap – the maximum investment they can make on the banking, financial services and institutions (BFSI) sector.

IDFC had requested Irda to allow insurance companies to continue classifying their investment in its debt instrument on the date of conversion into bank as exposure to “infrastructure”.

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 3rd Elets BFSI Leadership Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.