Indian Streams Research Journal

Volume : V, Issue : XI, December - 2015

CORPORATE GOVERNANCE IN INDIAN INSURANCE COMPANIES- A STUDY ON THE ROLE IRDA

Chandrakantha. K , M. Ramachandra Gowda

DOI : 10.9780/22307850, By : Laxmi Book Publication

Abstract :

The economic reforms initiated in India in the early 90s paved the way for the growth and opening up of the financial sector. Insurance and banking are the main components of finance sector. The reforms in insurance sector started in the year 2000 with the implementation of recommendations made by the Malhotra committee. The Indian insurance industry was opened up for private players in the year 2000 with the enactment of IRDA Act and they allowed to have Foreign Direct Investment up to a limit of 26%. However to meet the capital requirement of private insurance companies the Government approved to enhance the FDI cap from 26% to 49%.

Keywords :

• Liberalisation
• FDI
• IRDA
• Liberalisation
• FDI
• IRDA
• Liberalisation
• FDI
• IRDA

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References :

1. Ashvin parekh & Chandrajit banergee (2010) Indian insurance sector- stepping into the next decade of growth-Ernst& Young- Confederation of Indian Industry
2. Khimji Kunverji and Co. –Chartered Accountants- IFRS and India.
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18. Khimji Kunverji and Co. –Chartered Accountants- IFRS and India.
19. ROSC (2004)- Report on the Observations of Standards and Codes
20. Rahul Gupta(2012) Fraud-abuse and leakage- food for thought- The Journal of Insurance Institute of India. Pp 67-69.
21. Annual reports of IRDA
22. www.insuranceinstituteofindia.com
23. Ernst & Young (2012) IFRS insights – data, systems and process
24. Dr. Monoj s, Kamat & Manasvi–Ethical governance issues in accounting and reporting- dilemmas of the Accountant.
25. Website: www.irdaindia.org
26. The Genereal Insurance Association (2006)- Good Corporate Governance and Best practices for insurance companies.
27. The Genereal Insurance Association (2006)- Good Corporate Governance and Best practices for insurance companies.
28. Ernst & Young (2012) IFRS insights – data, systems and process
29. Dr. Monoj s, Kamat & Manasvi–Ethical governance issues in accounting and reporting- dilemmas of the Accountant.
30. Website: www.irdaindia.org
31. Ashvin parekh & Chandrajit banergee (2010) Indian insurance sector- stepping into the next decade of growth-Ernst& Young- Confederation of Indian Industry
32. Khimji Kunverji and Co. –Chartered Accountants- IFRS and India.
33. ROSC (2004)- Report on the Observations of Standards and Codes
34. Rahul Gupta(2012) Fraud-abuse and leakage- food for thought- The Journal of Insurance Institute of India. Pp 67-69.
35. Annual reports of IRDA
36. www.insuranceinstituteofindia.com
37. The Genereal Insurance Association (2006)- Good Corporate Governance and Best practices for insurance companies.
38. Ernst & Young (2012) IFRS insights – data, systems and process
39. Dr. Monoj s, Kamat & Manasvi–Ethical governance issues in accounting and reporting- dilemmas of the Accountant.
40. Website: www.irdaindia.org

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