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माननीय प्रधानमंत्री ने राष्ट्र की स्वतंत्रता के 75 वर्ष पूर्ण हो जाने पर वर्ष 2022 तक सभी के लिए आवास की परिकल्पना की है। इस उद्येश्य की प्राप्ति के लिए केन्द्र सरकार ने एंक व्यापक मिशन "2022 तक सबके लिए आवास" शुरू किया है। 25 जून 2015 को प्रधानमंत्री श्री नरेन्द्र मोदी ने इस बहुप्रतीक्षित योजना को प्रधानमंत्री आवास योजना के नाम से प्रारम्भ किया है।
Hon’ble Prime Minister envisioned housing for All by 2022 when the Nation completes 75 years of its Independence. In order to achieve this objective, Central Government has launched a comprehensive mission “Housing for All by 2022”. This much awaited scheme has been launched by the Prime Minister of India, Sh. Narendra Modi on 25th June, 2015 as Pradhan Mantri Awas Yojana.

2018-08-29

Cabinet approves Memorandum of Understanding between India and USA in insurance regulatory sector

Cabinet approves Memorandum of Understanding between India and USA in insurance regulatory sector

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the signing of a Memorandum of Understanding (MoU) between Insurance Regulatory and Development Authority of India (IRDAI) and the Federal Insurance Office, USA.

Impact:

The MoU provides a framework for cooperation and coordination, including for the exchange of information and research assistance with respect to each Authority’s overview and other lawful responsibilities.  Under the agreement, both the countries intend to share their experiences on various regulatory functions and to provide mutual assistance including training activities.  India andUSA have also agreed to continue to facilitate cooperation on international standard-setting activities, financial stability and the development and implementation of consumer protection through sound prudential regulation of the insurance sector.

Background:

IRDAI is a body set up under the Insurance Regulatory and Development Authority Act, 1999 to regulate, promote and ensure orderly growth of the insurance and re-insurance business in India. Similarly, in USA, Federal Insurance Office (FIO) is vested with the authority to monitor all aspects of the insurance sector and to represent the USA on prudential aspects of international insurance.

India and USA have strong business relations with each other and both the countries have been in regular discussions at various political and official levels. Various institutional mechanisms have also been put in place over time to strengthen bi-lateral cooperation on wide ranging multi-sectoral issues between the two countries.

USA is one of the major contributors of foreign direct investment in India and many insurance companies have set up joint venture with USA based insurance companies. With increase in foreign investment cap to 49%, there is further scope for foreign investments in Indian insurance sector particularly from USA based companies. Hence the bilateral MoU between IRDAI and FIO, USA holds lot of potential for the two countries.

Source: PMINDIA

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